We were delighted to welcome Technology Minerals (TM1) CEO Alex Stanbury to speak at the London South East IR webinar last night 25.04.2023.
Alex got his timing just right as that morning the Environmental Agency announced their approval of the Recyclus Lithium-Ion battery recycling plant in Wolverhampton, the UK's first.
He estimated this would be in production within 4/5 weeks, recycling 8,300 tonnes of batteries in the first year, hitting break even quite quickly and 'creating significant revenue streams'. "Demand is huge".
TM1 also hope to get EA approval for a lead battery recycling plant in Tiverton near Birmingham within 8/12 weeks.
Alex told us that the Lithium-Ion factory will be the far more profitable of the two, and also that they had first mover advantage, with no other Lithium-Ion factory operating in the UK so far.
Technology Mineral still plan to integrate Recyclus into the Technology Minerals business, keeping it as a separate division, however the FCA paperwork has been much higher than anticipated.
AIM-listed Technology Minerals operates at both ends of the battery metals spectrum. It also explores for battery metals which are in high demand currently, including lithium and nickel, and Alex told us they have offtake agreements in place for some of the future Lithium production in Leinster.
Tech Minerals (TM1)