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Technology Minerals' Recylus inks recyling deal with Beryl

Mon, 18th Mar 2024 13:50

(Alliance News) - Technology Minerals PLC on Monday said its battery recycling business, Recyclus Group Ltd has signed an agreement with UK-based shared sustainable transport operator, Beryl Ltd, to recycle waste lithium-ion batteries from its fleet of e-bikes and e-scooters.

The London-based battery metals and recycling firm said under the deal, Beryl will send its lithium-ion battery waste to Recyclus' Wolverhampton facility for processing and recycling.

Recyclus will receive gate fees for receiving the batteries, as well as any sales of black mass and other recoverable materials produced from the recycling process, Technology Minerals explained.

"The agreement provides Beryl with a solution for recycling the Li-ion e-bike and e-scooter batteries needed to decarbonise urban travel, and forms part of its strategy to develop accredited recycling partnerships with firms specialising in hard-to-recycle waste such as [lithium-ion] batteries," it added.

Technology Minerals owns a 48% stake in Recyclus.

Commenting on the contract win, Technology Minerals Chair and Director of Recylus Robin Brundle said: "We are excited to be working with Beryl, a leading micromobility specialist with a network and infrastructure that expands across the country. With the e-bike market continuing to grow year on year, there is a growing demand for the safe disposal and recycling of Li-ion batteries. This agreement with Beryl is a testament to the strength of our solution as the first industrial scale, lithium-ion battery waste recycler in the UK."

Shares in Technology Minerals fell 2.1% to 1.05 pence each in London on Monday afternoon.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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