Commissioning Complete at Li-ion Recycling Plant

Technology Minerals PLC

28 September 2023

 

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 law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

28 September 2023

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

Commissioning Phase Completed at Li-ion Battery Recycling Plant

Commencement of Commercial Operations

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce its 48.25% owned battery recycling business, Recyclus Group Ltd ("Recyclus"), has successfully completed the commissioning phase at the UK's first industrial scale lithium-ion ("Li-ion") battery recycling facility in Wolverhampton, West Midlands.

As part of completing the commissioning phase, Recyclus installed bulk liquid nitrogen tanks and the company has also received the first fill of liquid nitrogen, which facilitates continuous processing at the plant. Recyclus is now focussing on ramping up Li-ion battery processing through the plant to achieve a run rate of 8,300 tonnes per annum based on a single shift and has a permit to expand this to process up to 22,000 tonnes per annum.

The plant processes end-of-life Li-ion batteries to produce black mass, which contains critical battery metals that can be reprocessed and sold back into the battery supply chain, in addition to other saleable materials.

Robin Brundle, Chairman of Technology Minerals, said: "We are pleased to announce that Recyclus has successfully completed the commissioning phase at our Li-ion battery recycling plant. This milestone allows us to commence commercial operations and is another step towards the realisation of our planned processing rate. By using cutting-edge recycling solutions at our facility, we aim to tackle the challenge of discarded batteries, playing a pivotal role in the electrification transition and forging a sustainable circular economy in the UK."

Enquiries

Technology Minerals Plc
Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer	c/o [phone]
Oberon Investments Limited
Nick Lovering, Adam Pollock	[phone]
Gracechurch Group
Harry Chathli, Alexis Gore, Rebecca Scott	[phone]

Technology Minerals Plc 

Technology Minerals is developing the UK's first listed company, providing a 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 extracting raw materials required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. As with the increasing global demand for battery metals to supply electrification increases, the group will explore, mine, and recycle metals from spent batteries. Further information on Technology Minerals is available at 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 of battery metals. Further information on Recyclus Group is available at www.recyclusgroup.com  

 

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