Tech Minerals Regulatory News (TM1)

24 November 2021

Technology Minerals Plc

("Technology Minerals" or the "Company")

Technology Minerals and Slicker Recycling Partner to Revolutionise UK Battery Recycling

National initiative launched to support Technology Minerals' aim of creating a circular economy for the UK battery market

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that Recyclus Group, a 49% Technology Minerals owned company, has signed a partnership agreement with Slicker Recycling Limited ("Slicker Recycling"), one of the UK's leading hazardous waste management and service delivery providers, with a view to further their visions of creating a circular economy for the UK battery market.

The agreement between Recyclus Group and Slicker Recycling (the "Partnership") launches a national initiative with the aim of improving the UK capability for battery recycling from dangerous, small-scale manual operations to recycling safely and sustainably on an industrial scale - which the Company believes is a necessary development for the UK to reach its climate targets.

Slicker Recycling, which has 13 depots nationwide and executes more than 25,000 collections per annum, will collect battery waste from around the UK and safely transport it to the closest Recyclus Group Ltd ("Recyclus") plant. Recyclus is a battery-recycling business with innovative technology that can safely salvage key materials from spent batteries to produce black mass (consisting of cobalt, nickel, lithium, and manganese). These recycled raw materials can then be subsequently fed back into the market for re-use and resale. Recyclus will also test the safety of the batteries to determine whether they should be re-used or repurposed. Recyclus believes this partnership alone could deliver up to 40% of the lead-acid battery capacity, and up to 90% of its Li-ion capacity once the two plants are commissioned in Q1 2022.

The Partnership is expected to be a driver in Technology Minerals' growth strategy and aim to increase its recycling capacity in 2022 for lead-acid batteries to 16,000 tonnes per annum and 5,000 tonnes per annum for lithium-ion ("Li-ion") batteries.

Alex Stanbury, Chief Executive Officer of Technology Minerals, said: "We are delighted to launch this national initiative for battery recycling in the UK and partner with Slicker Recycling, one of the UK's largest waste collectors. The Partnership will help ramp up our recycling capacity for both lead-acid and Li-ion batteries and builds on our strategy and goal to help tackle the critical upcoming supply shortages of the key minerals being used to drive the global transition to electric vehicles. 

"Technology Minerals and Slicker Recycling recognise the market need for an integrated, strategic waste management partnership, and this end-to-end logistical solution furthers both our interests in addressing the UK's battery waste crisis. It is vital that companies work together to expand homegrown waste management solutions if the UK is to achieve its 2050 net-zero target."

Mark Olpin, Managing Director of Slicker Recycling, said: "Diversifying into new and innovative markets is a key part of our growth plans and our link-up with Technology Minerals is a vital partnership to kick-start an effective, circular economy solution for the UK's growing battery market.

"The raw materials extracted from the used batteries collected as part of this partnership will go back into industry as part of a closed loop solution. This is especially welcome at a time when electric car production and ownership is at its highest ever level, with that trend set to continue on a steep curve, therefore needing sustainable solutions to keep it moving and growing.

"We have strong credentials in the automotive sector so this partnership is the perfect fit at a time when both our organisations are firmly focused on the circular economy and how we preserve finite resources.

"Overall, we are delighted to be at the forefront of this forward-thinking partnership which is an example of how companies can join up their expertise for the good of the planet."

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. TM 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 Limited 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 

Slicker Recycling

With depots across the UK, Slicker Recycling specialises in the national collection and recycling of hazardous lubricating oils which have been previously used in motor vehicles and machinery. Aside from hazardous and non-hazardous waste collections, Slicker also provides interceptor and drainage services, tank cleaning and decommissioning, and chemical waste removal. Slicker employs almost 200 people and in July 2020, launched a £70 million base oil re-refinery in Denmark as part of a joint venture with its German partner, Avista AG. Further information on Slicker Recycling at www.slickerrecycling.com