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.
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
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Technology Minerals Plc
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Robin Brundle, Executive
Chairman
Alex Stanbury, Chief Executive
Officer
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c/o +44 (0)20 4582 3500
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Oberon Investments Limited (Broker)
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Nick Lovering, Adam
Pollock
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+44 (0)20 3179 0500
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Gracechurch Group (Financial PR)
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Harry Chathli, Alexis Gore, Rebecca
Scott
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+44 (0)20 4582 3500
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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.
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/.