REG - Technology Minerals - Recyclus Operational Update

Technology MineralsAnnouncement

22/08/2024 07:01

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RNS Number : 3381B  Technology Minerals PLC  22 August 2024

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22 August 2024

Technology Minerals Plc

 

("Technology Minerals" or the "Company")

Recyclus Operational Update

 

Technology Minerals Plc (LSE: TM1), the UK's pioneering firm in establishing a
circular economy for battery metals, provides the following update regarding
its 48.35% owned battery recycling business, Recyclus Group Ltd
("Recyclus").

 

End-of-Life LIB production to Black Mass

Further to the update on 4 July 2024, Recyclus has continued to progress
operations at its lithium-ion ("Li-ion") recycling facility. Recyclus'
industrial-scale facility, the first of its kind in the UK, operated every day
with a high level of availability and shredding production levels surpassed
the current budgeted level for the month. The production input included
batteries received and processed from  automotive, e-bike and waste
management clients.

 

Discharge & Dismantle

The Recyclus new Discharge and Dismantle Unit ("DDU") for Li-ion batteries at
its Wolverhampton site is now operational and processing inventory.  The new
DDU strategically positions Recyclus as the UK's first industrial-scale
full-service collection-to-black mass separation solution.  The new unit will
provide various cost benefits and increases in productivity for the Company,
allowing Recyclus to discharge and dissemble EV batteries on-site before
processing. This offers an end-to-end solution to automotive OEMs and industry
customers and partners.

 

Black Mass Offtake

Recyclus has strengthened its position as a seller of black mass, having
established an offtake agreement with a leading player in the industry,
India's largest battery recycler, LOHUM.  The partnership with Lohum
originated from Recyclus' academic partnership with the University of
Birmingham. This collaboration led to Recyclus' involvement in hosting a
delegation from India, which included a government representative, academia
and industry leaders.

 

Libox

Recyclus' Libox inventory of 50 "safe boxes" are currently deployed with
commercial customers under contracts and the commercial team continues to
expect further progress across a range of sectors for this industry leading
solution for the safe storage and transportation of end-of-life li-ion
batteries. Recyclus is also manufacturing further boxes to meet current sales
contracts.

 

Robin Brundle, Chairman of Technology Minerals and Director of Recyclus, said:
"We are pleased to see ongoing steady progress throughout our business,
particularly at our Wolverhampton facility. July has been the busiest for us
commercially where we have exceeded our battery throughput targets and
continued to build traction across a number of sectors in the UK market which
require an end-to-end battery recycling solution. As we enhance our
relationships within the recycling industry, both established and new, we are
excited to build on this success and position Recyclus as the UK's premier
choice for safe transportation, safe storage and recycling of lithium-ion
batteries."

 

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
and lead acid 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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