Technology Minerals PLC Commissioning Phase Progressing on Schedule (8752G)
July 24 2023 - 1:00AM
UK Regulatory
TIDMTM1
RNS Number : 8752G
Technology Minerals PLC
24 July 2023
The information contained within this announcement is deemed to
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24 July 2023
Technology Minerals Plc
("Technology Minerals" or the "Company")
Commissioning Phase Progressing on Schedule
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"), continues to make good
progress through the commissioning phase at the UK's first
industrial scale lithium-ion ("Li-ion") battery recycling facility
in Wolverhampton, West Midlands.
The commissioning phase is advancing on schedule with the plant
steadily increasing its hours of operation as it builds up to
continuous operations. Furthermore, the facility has passed
comprehensive inspections conducted by all relevant agencies,
ensuring the uninterrupted continuation of operations without any
delays.
The plant has a permit to process up to 22,000 tonnes of Li-ion
batteries per annum and 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. The plant processes
end-of-life Li-ion batteries to produce black mass, which contains
critical battery metals that can be reprocessed and sold back into
the battery supply chain.
Robin Brundle, Chairman of Technology Minerals, said: "The
commissioning phase at the Li-ion battery recycling site is
performing well and on schedule. We are steadily increasing the
hours of operation as we gear up to full continuous operations and
we look forward to updating the market as we continue our
progress."
Enquiries
Technology Minerals Plc
Robin Brundle, Executive Chairman c/o +44 (0) 20 4582
Alexander Stanbury, Chief Executive Officer 3500
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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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+44 (0) 20 4582
Harry Chathli, Alexis Gore, Rebecca Scott 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
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
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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