Tech Minerals Regulatory News (TM1)

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. 

30 March 2023

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

Innovate UK awards £1.96m grant for mobile recycling system

Recyclus Group to create a mobile battery recycling system capable of safely despatching any type of lithium-ion battery

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, announces that its 48.25% owned battery recycling business, Recyclus Group Ltd ("Recyclus"), in collaboration with the University of Birmingham ("UoB"), has been awarded funding of £1.96m from the UK Government's Innovate UK, to create a mobile battery recycling system capable of safely handling any type of lithium-ion ("Li-ion") battery.

Recyclus will lead the project and design and build a compact prototype Universal Battery Recycling System ("UBRS"), a mobile recycling truck that handles a complete range of Li-ion battery modules from all areas of industry. The main unit will be designed to accept batteries on an individual or batch-load basis and will implement a new industry standard that can benefit the UK and global recycling sectors. The Advanced Materials & Processing Laboratory ("AMPLab") at the UoB will support the project providing leading edge 3D printing techniques, incorporating additive manufacturing for the required cutting tools.

The innovative recycling trucks will be based on Recyclus' existing technology for industrial-scale Li-ion battery recycling, capable of safely dealing with the 5+ types of Li-ion battery chemistry, in any combination. Recyclus plans to operate the recycling trucks with three size options ranging from 7.5 to 16 tonnes which will be capable of processing between 500 and 2,000 kilogrammes per hour of Li-ion batteries.

The aim is to develop a consistent battery recycling channel which creates safe and environmentally friendly recycling of Li-ion batteries across the UK. The whole system will be completely sealed, emission free, with a gated infeed chamber and a series of sealed outfeed chutes which feeds separated materials into collection containers. The system will reduce Li-ion batteries to five recyclable products:

· Black mass, which contains lithium, manganese, cobalt and nickel

· Electrolyte

· Ferrous (steel)

· Non-ferrous (aluminium & copper)

· Light mixed fraction (plastic, rubber & paper)

According to analysis from McKinsey & Company, 'Battery 2030: Resilient, sustainable, and circular', global demand for Li-ion batteries could grow 30 per cent annually from 700 GWh in 2022 to around 4,700 GWh by 2030.

Kate Jermey, Business Engagement Manager (KTP) at the University of Birmingham, said: "This project will enable Recyclus Group and The University of Birmingham to respond to the current challenges around battery recycling infrastructure, and provide a viable and desperately needed solution to the issue of waste batteries, through the usage of Industry 4.0/ Additive Manufacturing Solutions to speed up systems design and deployment."

Robin Brundle, Chairman of Technology Minerals, said: "Securing this grant from Innovate UK is a strong endorsement for Recyclus and we look forward to working with the University of Birmingham on this programme which could be the catalyst for future collaboration.

"The rapid development of consumer goods such as vapes, handhelds, e-Bikes and the general transition to electric transport is already causing serious environmental issues. The build-up of end-of-life Li-ion batteries over the coming years will create a battery waste tsunami that we need to prepare for by investing in the capabilities and capacity for large-scale battery recycling.

"The Recyclus mobile unit takes the recycling solution to the problem and will provide a reliable, cost-effective and automated process for safe and environmentally friendly recycling of Li-ion batteries across the UK. This will accelerate the recovery of the critical raw materials essential to the transition to electrification and significantly reduce the use of landfill. This innovative mobile battery recycling system will implement a new industry standard that can benefit not just the UK, but around the world."

Innovate UK

Innovate UK, the UK's innovation agency, drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas. It funds business and research collaborations to accelerate innovation and drive business investment into R&D. Its support is available to businesses across all economic sectors, value chains and UK regions. They help businesses grow through the development and commercialisation of new products, processes, and services.

Enquiries

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 substantially increase. 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, 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