REG - Technology Minerals - Recyclus Li-ion Recycling Plant Update

Technology MineralsAnnouncement

20/11/2023 07:00

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RNS Number : 9040T  Technology Minerals PLC  20 November 2023

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20 November 2023

 

Technology Minerals Plc

("Technology Minerals" or the "Company")

 

Update on Wolverhampton Lithium Battery Recycling

Production Achieving up to 45% Recycling Rate for Black Mass

 

Technology Minerals Plc (LSE: TM1), the UK's pioneering firm in establishing a
circular economy for battery metals, is excited to share progress updates from
its 48.35% subsidiary, Recyclus Group Ltd. Recyclus operates one of the first
industrial-scale lithium-ion (Li-ion) battery recycling plants in the UK,
located in Wolverhampton.

 

Recent achievements at the Wolverhampton plant include:

·    The accumulation of 100 tonnes of feedstock, the maximum allowed
under the Environmental Agency permit.

·    A significant rise in recycling production, reaching up to 45% net
black mass yield.

 

This black mass, a key component in battery manufacturing, contains essential
metals like lithium, manganese, nickel, and cobalt. The Wolverhampton facility
not only recovers these valuable metals but also segregates and prepares other
materials such as copper, aluminium, and plastics for resale. With the market
rate for black mass exceeding £3,500 per tonne, this process marks a notable
stride in battery recycling efficiency.

 

The Wolverhampton plant continues to see a steady influx of Li-ion battery
waste from various commercial sources. Recyclus' commercial team is actively
engaging with numerous UK organizations to streamline battery recycling,
leveraging their robust logistics network for efficient collection and
processing.

 

On the funding front, Technology Minerals remains well-positioned to support
ongoing operations with convertible loan facilities for additional working
capital as needed. Furthermore, Recyclus has access to £525,000 under a £1
million loan facility from a company shareholder.

 

Robin Brundle, Director and Co-Founder of Recyclus Group, commented: "Our
Wolverhampton plant is successfully ramping up production of high-quality,
high-rate black mass, crucial for the battery sector. This achievement
underscores the effectiveness of our technical solutions and the expertise of
our on-site engineers, emphasizing our commitment to sustainable battery metal
recovery."

 

Enquiries

 

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

 Alexander Stanbury, Chief Executive Officer

 Oberon Investments Limited
 Nick Lovering, Adam Pollock                   +44 (0)20 3179 0535

 Gracechurch Group
 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. The Company
currently holds 48.35% of the issued share capital of Recyclus Group Ltd, the
UK's first industrial-scale recycler of both lithium-ion and lead batteries.

 

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 Li-ion and
lead acid batteries and is a significant contributor towards the circular
economy of battery metals. Further information on Recyclus Group is available
at www.recyclusgroup.com (http://www.recyclusgroup.com/) .

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