Recyclus Receives Battery Testbed System

RNS Number : 8756P

Technology Minerals PLC

23 June 2022

 

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. 

23 June 2022

Technology Minerals Plc  

("Technology Minerals" or the "Company")  

Recyclus Receives Battery Testbed System

Battery testing technology creates capability to charge, discharge, test and sort batteries for reuse and recycling

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that its 49% owned battery recycling business, Recyclus Group Ltd ("Recyclus"), has received three lithium battery ("LIB") testbed systems designed to measure a range of different battery chemistries of different sizes at its Wolverhampton site.

The LIB testbeds give Recyclus the operational capability to test the effective capacity of battery packs from a range of EV and industrial usages as well as for degradation or damage at the cell level. By charging and discharging batteries to measure capacity and capture stored energy it can also perform a number of other critical performance test criteria. The ability to discharge stored energy unlocks future opportunities to feed energy back into the national grid and for use on-site.

This testing capability enables Recyclus to grade batteries and access the reuse market for batteries alongside recycling. The tested battery packs will be sorted into one of three categories: the first are suitable for reuse as they are, the second are defective and need to be recycled, and the third are a split with some cells being retrievable and others not. It creates an opportunity for Recyclus to send suitable batteries back into alternative repurposed applications, depending on their condition and test results.

With UK Government estimates suggesting that there could be almost 28 million EVs on the UK's roads by 2035,¹ a substantial number of battery cells are likely to reach end-of-life that are suitable for reuse for different applications, representing a significant market opportunity beyond recycling.

Robin Brundle, Chairman of Technology Minerals, said: "This testing capability is another key development for Recyclus designed to create an additional potential new revenue stream by unlocking more of the value-chain in the battery circular economy .

"We are constantly exploring new avenues to expand under our circular economy strategy, and this represents a significant milestone for us in developing our capability for recycling and reuse of batteries, and our ability to harness otherwise wasted energy. Implementing these systems into our process will help to maximise the lifespan of batteries and minimise energy waste."

Jonathan Regan, Senior Battery Engineer of Recyclus, said: "Developing this function will allow us to work with manufacturers to increase the amount of carbon offset from the batteries' production by extending their working life through repurposing into alternative applications , supporting the transition to net-zero, and supporting future and current legislative targets."

Enquiries

Technology Minerals Plc
Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer	[phone]
Arden Partners Plc
Ruari McGirr, George Morgan	[phone]
Luther Pendragon
Harry Chathli, Alexis Gore, John Bick	[phone]

Notes to Editor

^{1   Climate Change Committee - The Sixth Carbon Budget: The UK's path to Net Zero, 2020 , pg.98.}

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 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. With the increasing global demand for battery metals to supply electrification, 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 substantially increase . 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, 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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