Technology Minerals PLC Commissioning Phase To Commence at Recycling Plant (8828E)
July 04 2023 - 2:00AM
UK Regulatory
TIDMTM1
RNS Number : 8828E
Technology Minerals PLC
04 July 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
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now considered to be in the public domain.
4 July 2023
Technology Minerals Plc
("Technology Minerals" or the "Company")
Commissioning Phase To Commence at Li-ion 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 its 48.25% owned battery recycling
business, Recyclus Group Ltd ("Recyclus"), will be initiating the
commissioning phase at the UK's first industrial scale lithium-ion
("Li-ion") battery recycling facility in Wolverhampton, West
Midlands.
During the commissioning phase, the plant will be operational
for certain periods of time while any emissions are carefully
monitored and recorded. Providing the emissions continue to be
within approved levels, the number of processing hours will be
extended until the facility reaches continuous operation.
In the commissioning phase, the first end-of-life Li-ion
batteries will be fed into the plant to produce black mass. Black
mass contains critical battery metals that can be reprocessed and
sold back into the battery supply chain. Recyclus anticipates the
receipt of gate fees for collection and storage of Li-ion
batteries, and from the sale of black mass, produced from the
recycling process.
In April 2023, Recyclus secured an Environment Agency ("EA")
permit that allows the company a daily storage limit of 140 m3
(c.100 tonnes) of Li-ion batteries on site and to process up to
22,000 tonnes of Li-ion batteries per annum. Recyclus expects that
8,300 tonnes will be processed in the first year, utilising a
single shift pattern of labour during the standard working week.
Annual capacity can be increased through additional shifts, with
the expectation that the plant will be able to process up to 22,000
tonnes of Li-ion batteries per annum. The aim is for Recyclus to
increase its processing capability through the construction of four
more Li-ion recycling plants in the UK.
In January 2023, McKinsey Battery Insights team conducted a
study that projected that the entire Li-ion battery chain, from
mining through recycling, could grow by over 30 percent annually
from 2022 to 2030, when it would reach a value of more than $400
billion and a market size of 4.7 TWh.
Robin Brundle, Chairman of Technology Minerals, said: "We are
pleased that Recyclus will shortly begin the commissioning phase at
the state-of-the-art Li-ion battery recycling facility, the first
of its kind and of this scale in the UK. With the ongoing global
shift towards electrification, the accumulation of discarded
batteries poses a significant challenge, underscoring the need for
recycling initiatives such as our Wolverhampton plant. By
implementing advanced recycling solutions, we are committed to
addressing this burgeoning issue and contributing to the
sustainable evolution of the global economy."
Enquiries
Technology Minerals Plc
Robin Brundle, Executive Chairman c/o +44 (0) 20 4582 3500
Alexander Stanbury, Chief Executive
Officer
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Oberon Investments Limited
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Nick Lovering, Adam Pollock +44 (0)20 3179 0535
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Gracechurch Group
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Harry Chathli, Alexis Gore, Anysia
Virdi +44 (0) 20 4582 3500
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Technology Minerals Plc
Technology Minerals is developing the UK's first listed company,
providing a 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. As with the
increasing global demand for battery metals to supply
electrification increases, 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 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 of battery metals. Further
information on Recyclus Group is available at
www.recyclusgroup.com
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