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. 

15 February 2023

Technology Minerals Plc

("Technology Minerals" or the "Company") 

Update on EA Licence for Wolverhampton Lithium-ion Battery Recycling Plant

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 its 49% owned battery recycling business, Recyclus Group Ltd ("Recyclus"), has been provided with a Schedule 5 Notice by the Environment Agency ("EA") for its variation of environmental licence application for its Lithium-ion recycling plant in Wolverhampton, West Midlands.

The Schedule 5 Notice is the final stage before a licence is determined which if successful will enable the plant to commence recycling operations. Under paragraph 4 of Part 1 of Schedule 5 of The Environmental Permitting (England & Wales) Regulations 2016, the EA has asked Recyclus to provide clarification regarding its fire/disaster planning and minor questions around the processes of the plant. The company is in the process of responding to the information requested, after which it expects the licence determination to be received shortly thereafter. 

Once the site is fully operational, the Wolverhampton plant will be the first in the UK with the capacity to recycle lithium-ion batteries on an industrial scale and will be a key foundation of Recyclus' ambition to increase its lithium-ion battery recycling capacity from an estimated 8,300 tonnes in the first full year of operations, to circa 41,500 tonnes by 2027.

Robin Brundle, Chairman of Technology Minerals, said: "We are pleased to have received the Schedule 5 from the EA, as it gives us a clear indication that the process of grant of licence is in its final stages. Upon receipt of the licence, for the first time, the UK will have an industrial scale recycling capability for lithium-ion batteries. Over the past few months, interest in our plant has increased significantly and we are in advanced discussions with companies and organisations from UK and across the globe. We look forward to progressing these once we have received the licence."  

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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