TIDMTM1
RNS Number : 4970S
Technology Minerals PLC
06 November 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.
6 November 2023
Technology Minerals Plc
("Technology Minerals" or the "Company")
Recyclus to Supply WMG, University of Warwick with Lithium-ion
Battery Shredder
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 been
selected by WMG, University of Warwick, to supply it with a bespoke
lithium-ion ("Li-ion") battery shredder.
Following a competitive tender process, WMG, University of
Warwick has selected Recyclus to design, manufacture, supply,
install, commission, and train operators for the use of an
industrial grade Li-ion battery shredder. The shredder will be
based on Recyclus' pioneering industrial scale Li-ion battery
recycling plant at Wolverhampton and will enable WMG to shred cells
and modules in a safe manner to further advance its research in
battery recycling technologies and black mass.
Recyclus will receive an immediate initial upfront fee, and
additional fees for completing various project milestones. The
equipment is to be delivered and commissioned by 31 March 2024.
The agreement is a strong endorsement of Recyclus' innovative
technology as well as its leading expertise and capability in this
field. Recyclus' unique recycling plant has a dry front-end
process, which uses an inert atmosphere to safely shred and dry
end-of-life Li-ion batteries in a safe and environmentally friendly
manner. This protects the environment while producing high quality
shredded battery materials, which can then be sent on for further
treatment, including battery metal recovery.
Recyclus' first Wolverhampton Li-ion plant is operational and
will be steadily building production volumes over the next 12
months. It is the first industrial scale Li-ion battery recycling
plant in the UK 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.
This agreement further strengthens the relationship between WMG
and Recyclus who have worked together for a number of years and
recently created a four-year Engineering Doctorate focused on
battery recycling technologies. WMG is a leading academic group
providing research, education and knowledge transfer in
engineering, management, manufacturing and technology.
Anwar Sattar, Principal Engineer in Battery Recycling Re-Use and
Remanufacture at WMG, said: " We are delighted to be working
alongside Recyclus to further develop and enhance our battery
recycling capabilities. As an academic institution, our
requirements are unique, and the Recyclus system offers the
greatest balance of compactness, to be seamlessly integrated into
our laboratory, and robustness to powerfully shred large modules.
Upon its delivery, the shredder will provide a significant
enhancement to our capabilities. "
Robin Brundle, Chairman of Technology Minerals, said: "We are
delighted to secure this order to supply a Li-ion battery recycling
shredder to WMG using our leading technology and proven recycling
process. WMG are a leader in R&D for Li-ion battery recycling
so to secure their endorsement speaks volumes for our teams'
capabilities, expertise and innovative technology. Through this
partnership with WMG we will continue to lead the way as a pioneer
in the battery recycling market."
Enquiries
Technology Minerals Plc
Robin Brundle, Executive Chairman c/o +44 (0) 20 4582 3500
Alexander Stanbury, Chief Executive
Officer
-------------------------
Oberon Investments Limited
-------------------------
Nick Lovering, Adam Pollock +44 (0)20 3179 0535
-------------------------
Gracechurch Group
-------------------------
Harry Chathli, Alexis Gore, Rebecca
Scott +44 (0) 20 4582 3500
-------------------------
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
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 .
About WMG
WMG is a leading academic department at the University of
Warwick that was established by Professor Lord Kumar Bhattacharyya
in 1980. WMG has an international reputation for collaborative
R&D and world class education. What makes us unique is our
multidisciplinary approach to innovation. Pushing the boundaries
for science and technology-driven businesses, we enable the
transfer of knowledge into new areas to make a real impact on
society and the economy. We have forged strong partnerships with
over 1,000 global companies, leading on major multi-partner
projects across sectors including automotive, aerospace, and
defence, business, energy and utilities, food and drink,
healthcare, IT, security, and rail. We are proud that UK government
reviews have cited us as an international role model for university
and business collaboration.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFSWSUMEDSEDF
(END) Dow Jones Newswires
November 06, 2023 04:42 ET (09:42 GMT)
Technology Minerals (LSE:TM1)
Historical Stock Chart
From Jul 2024 to Jul 2024
Technology Minerals (LSE:TM1)
Historical Stock Chart
From Jul 2023 to Jul 2024