First lead acid batteries recycled at Tipton

RNS Number : 1753I

Technology Minerals PLC

01 December 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. 

1 December 2022

Technology Minerals Plc  

("Technology Minerals" or the "Company")  

First 19 tonnes of lead acid batteries recycled at Tipton

Recyclus in discussions with multiple parties to sell recycled battery material processed at battery recycling plant

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 Recyclus Group Ltd ("Recyclus"), its 49% owned battery recycling business, has processed 19 tonnes of end-of-life batteries at its battery recycling plant in Tipton, West Midlands.  

Highlights

· First 19 tonnes of batteries manually processed and recycled into 16.5 tonnes of lead, lead plate and other recovered materials

· Facility is licenced for manual recycling activities while awaiting Environmental Agency ("EA") approval for automated industrial-scale processing

· Process recycles the entire battery into separate constituent parts to recover lead, acid, and plastic materials, which can then be reused in a wide range of industries

· Recyclus is in discussions with several potential buyers for the recycled materials and will update the market in due course

Recyclus plans to scale up its operations at Tipton while preparing to commence industrial-scale automated processing once it has received the final approval from the Environmental Agency.

As announced in September 2022, Recyclus received Approved Battery Treatment Operator ("ABTO") status at the Tipton plant, granting approval to begin manual processing of lead-acid batteries at the site. Under ABTO status, Recyclus is authorised to produce up to 15,000MT per annum of lead and store up to 300MT of inbound stock at any one time on-site. This enabled phase one of production to begin, with the second phase set to begin once final approval is granted by the EA.

Robin Brundle, Chairman of Technology Minerals, said:  "We are delighted to process the first batch of end-of-life batteries as Recyclus looks to ramp up its operations at the recycling plant in Tipton. Our process enables the recycling of spent batteries to recover lead, acid, and plastic materials to be repurposed back into a range of industries. We have seen strong demand for the recovered materials and look forward to securing first sales and generating cashflow at Tipton. Recyclus is in discussions with multiple parties regarding the sale of the recycled material and will update the market in due course."  

As announced on 19 October 2022, the Company signed binding Heads of Terms to acquire the remaining issued share capital of Recyclus (the "Proposed Transaction"). The Company will update shareholders as to progress made in relation to the Proposed Transaction as and when appropriate.

Enquiries

Technology Minerals Plc
Robin Brundle, Executive Chairman Alexander Stanbury, Chief Executive Officer	[phone]
Oberon Investments Limited
Nick Lovering, Adam Pollock	[phone]
Arden Partners Plc
Ruari McGirr	[phone]
Gracechurch Group
Harry Chathli, Alexis Gore, Amy Stupavsky	[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. 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    

 

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