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.
20 January 2025
Technology Minerals Plc
("Technology Minerals" or the "Company")
Project to recycle EV
batteries from major OEM
Technology Minerals Plc (LSE: TM1),
the first UK listed 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 completed a programme to recycle fire-damaged
lithium-ion ("Li-ion") battery packs from an electric vehicle
original equipment manufacturer ("EV OEM").
Recyclus processed complete vehicle
EV Li-ion battery packs from the EV OEM after the batteries had
been compromised by a thermal event. The damaged units had to be
dismantled by Recyclus' specialist high voltage engineer team
before being fast tracked, on site, to the recycling team. All
batteries were safely processed at the industrial scale Li-ion
battery recycling facility in Wolverhampton.
The project provides further
validation of Recyclus' cradle-to-cradle recycling solution. It
marks the third new customer announced this month, including two
majors in the automotive sector and a leading online retailer. It
highlights Recyclus' capabilities to address the critical challenge
of safely storing, transporting, processing, and recycling of
Li-ion batteries. Recyclus not only resolves issues surrounding
end-of-life or compromised Li-ion batteries but also contributes to
increasing the supply of critical metals essential for driving the
transition to electrification.
Robin Brundle, Chairman of Technology Minerals and Director of
Recyclus, said: "It has been an exciting
start to 2025, with this contract marking the second automotive
customer agreement announced this month, in addition to our
agreement with a leading online retailer. The selection of our
Li-ion battery recycling solutions by such high-calibre
organisations demonstrates the growing demand and recognition of
our pioneering technology. It is a strong validation in
Recyclus' ability to address the challenges of recycling
end-of-life Li-ion batteries and, in this case, offering what we
believe is a unique UK solution for extracting value from fire
damaged batteries that might otherwise end up in
landfill."
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 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/.
