REG - Technology Minerals - Recyclus contract with global automotive company

Technology MineralsAnnouncement

13/01/2025 07:00

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RNS Number : 0003T  Technology Minerals PLC  13 January 2025

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
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now considered to be in the public domain.

 

 

13 January 2025

 

Technology Minerals Plc

 

("Technology Minerals" or the "Company")

 

Contract to recycle lithium-ion batteries from global automotive company

 

Technology Minerals Plc (LSE: TM1), the first UK listed company focused on
creating a sustainable circular economy for battery metals, is pleased to
announce that its 48.35% owned battery recycling business, Recyclus Group Ltd
("Recyclus"), has signed an agreement to recycle lithium-ion ("Li-ion")
battery packs from a global automotive company (the "Customer").

 

Under the terms of the contract, Recyclus will process hundreds of electric
vehicle Li-ion battery packs at its Wolverhampton industrial scale Li-ion
battery recycling facility. The batteries will be sourced both domestically
and internationally following a battery recall programme by the Customer and
represents Recyclus' first contract for recycling batteries from overseas. The
contract demonstrates Recyclus' global reach and growing reputation in the
Li-ion battery recycling sector, and the increasing demand for its
cradle-to-cradle solution.

 

Robin Brundle, Chairman of Technology Minerals and Director of Recyclus, said:
"We are thrilled to collaborate with a globally renowned company that shares
our commitment to driving sustainability in the automotive sector. The
multinational scope of the partnership highlights the industry-leading nature
of Recyclus' solutions, building further momentum for the company and
reinforcing our position as a trusted service provider for Li-ion battery
recycling."

 

 

Enquiries

 

 Technology Minerals Plc
 Robin Brundle, Executive Chairman          c/o +44 (0)20 4582 3500

 Alex Stanbury, Chief Executive Officer

 Oberon Investments Limited (Broker)
 Nick Lovering, Adam Pollock                +44 (0)20 3179 0500

 Gracechurch Group (Financial PR)
 Harry Chathli, Alexis Gore, Rebecca Scott  +44 (0)20 4582 3500

 

Technology Minerals Plc

 

Technology Minerals is developing the UK's first listed, sustainable circular
economy for battery metals, using cutting-edge technology to recycle, recover,
and re-use battery technologies for a renewable energy future. Technology
Minerals is focused on raw material exploration required for Li-ion batteries,
whilst solving the ecological issue of spent Li-ion batteries, by recycling
them for re-use by battery manufacturers. Further information on Technology
Minerals is available at  www.technologyminerals.co.uk
(http://www.technologyminerals.co.uk/) .

 

Recyclus Group Ltd

 

The demand for the raw materials used in battery manufacturing is anticipated
to increase substantially. Recyclus Group provides a national recycling
initiative that supports the transition to carbon neutrality. Recyclus Group's
battery recycling capacity will prove essential in the shift from fossil fuels
to electric transportation. Through its strategic support from Technology
Minerals, Recyclus is an integral component to the recycling of lithium-ion
batteries and is a significant contributor towards the circular economy for
battery metals. Further information on Recyclus Group is available
at https://www.recyclusgroup.com/ (https://www.recyclusgroup.com/) .

 

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