Final Approval Draft for Li-ion Battery Recycling

RNS Number : 8885V

Technology Minerals PLC

12 April 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. 

12 April 2023

Technology Minerals Plc  

("Technology Minerals" or the "Company")  

EA Issues Final Approval Draft for Lithium-ion Battery Recycling Plant

Wolverhampton facility will be the UK's first industrial scale lithium-ion battery recycling facility to commence operations, with official EA certification expected by the end of the month

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 48.25% owned battery recycling business, Recyclus Group Ltd ("Recyclus"), has received the final "Draft Operator Review" from the Environment Agency ("EA") for the variation licence to commence full operations for its lithium-ion ("Li-ion") battery recycling plant in Wolverhampton, West Midlands.

Following receipt of the EA's final approval draft licence, Recyclus has responded to the EA to confirm its acceptance of the draft permit and expects the official EA certification to be completed imminently.

The draft approval from the EA is a major milestone for Recyclus. The Wolverhampton plant will be the first industrial scale plant in the UK with the capability to recycle Li-ion batteries. Following the final certification, on-site treatment and processing of spent Li-ion batteries will commence immediately.  

The plant has the potential to recycle up to 8,300 tonnes of Li-ion batteries in the first year of operation based on a single operating shift on five days per week. The aim is to increase that capacity to approximately 41,500 tonnes by building five additional Li-ion recycling plants in the coming years.

Recyclus receives revenues from gate fees for collection of Li-ion batteries, as well as from processing including the production of black mass which contains critical battery metals for recycling into the battery supply chain.

According to the latest study from BIS Research, 'Black Mass Recycling Market - A Global and Regional Analysis', the global black mass recycling market, valued at $9.22bn in 2022, is projected to reach $53bn by 2031.

Robin Brundle, Chairman of Technology Minerals, said: "Receiving the EA final approval draft to commence full automated operations at our Li-ion battery recycling plant in Wolverhampton is a landmark moment for the Company and for the UK.

"The battery recycling facility will be the first in the UK with capability to recycle Li-ion batteries on an industrial scale and will immediately begin recycling operations once the official certification is issued, which we expect imminently. With feedstock stored and ready to be processed, everything is in place to kick start operations at the facility and commence generation of cash flow.

"Recyclus will generate revenue through gate fees and the sale of the recycled materials that can then be reused in various industries, with the added benefit of diverting spent batteries from landfill. As the world transitions to electrification and demand for Li-ion batteries increases, we believe we have a strong first mover advantage for what is an industrial scale opportunity. We look forward to building long term relationships with businesses and organisations, both in the UK and internationally, which need a solution for their end-of-life batteries ."

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, 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. To meet 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    

Demand for the raw materials used in battery manufacturing is expected 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, Recyclus is integral 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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