21 March 2024
Replacement: The following amendments
have been made to the 'Recycles signs MoU for black mass refining'
announcement released on 21 March 2024 at 07.00 under RNS No 6955H.
The headline of the RNS Reach read 'Recycles' which has been
corrected to 'Recyclus'.
Technology Minerals Plc
("Technology Minerals" or the "Company")
Recyclus
signs an MoU with a cleantech company for black mass refining
technology
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 48.35% owned battery recycling business, Recyclus Group Ltd
("Recyclus") has signed a Memorandum of Understanding ("MoU") with
a cleantech company who has developed a world-leading low carbon
technology capable of processing black mass, recovering critical
raw materials from Lithium-ion ("Li-ion") batteries.
The partnership will involve the
already established processing of Li-ion batteries ("LIBs") into
black mass by Recyclus, which can then be further refined, through
an innovative, low-carbon and scalable chemistry-based technology,
into precursor cathode active materials adaptable for any LIB
manufacturer. After two years of assessing the emerging
technologies available in black mass refining, Recyclus decided on
this collaboration as the process is significantly more advanced
that existing hydromet processes, and in turn will result in higher
grade material recovery. The new process will be embedded into
Recyclus' business model aligned with UK feedstock availability as
volumes continue to increase.
Subject to final agreement, the
collaboration is estimated to be operational within the next 18
months and will strengthen Recyclus' position in establishing a
circular economy to provide a stable and secure supply of key
battery metals in the UK.
Recyclus' industrial scale Li-ion
recycling plant in Wolverhampton, the first of its kind in the UK,
produces black mass which contains critical battery metals that can
be reprocessed and sold back into the battery manufacturing supply
chain. The facility is building production volumes and is permitted
to process up to 22,000 tonnes of batteries per year with the aim
to process 8,300 in its first full year of production on a single
shift.
Anwar Sattar, Scientific Director of Recyclus,
said: "Recyclus has continued to strengthen the UK's
supply security of key battery metals through the deployment of its
state-of-the-art recycling plant in Wolverhampton. This MoU with an
innovative cleantech company has the potential to revolutionise how
critical metals are extracted from spent Li-ion batteries in the
UK, providing a new source for minerals essential in the race
towards electrification. It will only further strengthen Recyclus'
position as a pioneer in this field and while providing additional
scientific advancements toward the establishment of a circular
economy within the UK."
Robin Brundle, Director and Co-Founder of Recyclus,
commented: "Establishing a cradle-to-cradle solution
through the recycling and refining of recycled materials is a
critical pathway to support the UK's electrification
transition. It also supports the UK's need to establish a
stable and secure supply of key battery metals. This collaboration
aligns with the Government's goal of minimising the UK's carbon
footprint whilst potentially supplying up to 30% of the raw
materials for future UK battery manufacturers."
Enquiries
Technology Minerals Plc
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Robin Brundle, Executive
Chairman
Alexander Stanbury, Chief Executive
Officer
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c/o +44 (0)20 4582 3500
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Oberon Investments Limited
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Nick Lovering, Adam
Pollock
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+44 (0)20 3179 0535
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Gracechurch Group
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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.
The Company currently holds 48.35% of the issued share capital of Recyclus
Group Ltd, the UK's first industrial-scale recycler of both
lithium-ion and lead batteries.
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
Li-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.