Technology Minerals PLC Recyclus contract with global automotive company

RNS Number : 0003T

Technology Minerals PLC

13 January 2025

 

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.

 

 

13 January 2025

 

Technology Minerals Plc 

 

("Technology Minerals" or the "Company") 

 

Contract to recycle lithium-ion batteries from global automotive company

 

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 signed an agreement to recycle lithium-ion ("Li-ion") battery packs from a global automotive company (the "Customer").

 

Under the terms of the contract, Recyclus will process hundreds of electric vehicle Li-ion battery packs at its Wolverhampton industrial scale Li-ion battery recycling facility. The batteries will be sourced both domestically and internationally following a battery recall programme by the Customer and represents Recyclus' first contract for recycling batteries from overseas. The contract demonstrates Recyclus' global reach and growing reputation in the Li-ion battery recycling sector, and the increasing demand for its cradle-to-cradle solution.

 

Robin Brundle, Chairman of Technology Minerals and Director of Recyclus, said: "We are thrilled to collaborate with a globally renowned company that shares our commitment to driving sustainability in the automotive sector. The multinational scope of the partnership highlights the industry-leading nature of Recyclus' solutions, building further momentum for the company and reinforcing our position as a trusted service provider for Li-ion battery recycling."

 

 

Enquiries

 

Technology Minerals Plc
Robin Brundle, Executive Chairman Alex Stanbury, Chief Executive Officer	c/o [phone]
Oberon Investments Limited (Broker)
Nick Lovering, Adam Pollock	[phone]
Gracechurch Group (Financial PR)
Harry Chathli, Alexis Gore, Rebecca Scott	[phone]

 

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/.

 

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