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. 

6 November 2023

Technology Minerals Plc 

("Technology Minerals" or the "Company") 

Recyclus to Supply WMG, University of Warwick with Lithium-ion Battery Shredder

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 48.35% owned battery recycling business, Recyclus Group Ltd ("Recyclus"), has been selected by WMG, University of Warwick, to supply it with a bespoke lithium-ion ("Li-ion") battery shredder.

Following a competitive tender process, WMG, University of Warwick has selected Recyclus to design, manufacture, supply, install, commission, and train operators for the use of an industrial grade Li-ion battery shredder. The shredder will be based on Recyclus' pioneering industrial scale Li-ion battery recycling plant at Wolverhampton and will enable WMG to shred cells and modules in a safe manner to further advance its research in battery recycling technologies and black mass.

Recyclus will receive an immediate initial upfront fee, and additional fees for completing various project milestones.  The equipment is to be delivered and commissioned by 31 March 2024.

The agreement is a strong endorsement of Recyclus' innovative technology as well as its leading expertise and capability in this field. Recyclus' unique recycling plant has a dry front-end process, which uses an inert atmosphere to safely shred and dry end-of-life Li-ion batteries in a safe and environmentally friendly manner. This protects the environment while producing high quality shredded battery materials, which can then be sent on for further treatment, including battery metal recovery.

Recyclus' first Wolverhampton Li-ion plant is operational and will be steadily building production volumes over the next 12 months. It is the first industrial scale Li-ion battery recycling plant in the UK and is permitted to process up to 22,000 tonnes of batteries per year with the aim to process 8,300 in its first full year of production.

This agreement further strengthens the relationship between WMG and Recyclus who have worked together for a number of years and recently created a four-year Engineering Doctorate focused on battery recycling technologies. WMG is a leading academic group providing research, education and knowledge transfer in engineering, management, manufacturing and technology.

Anwar Sattar, Principal Engineer in Battery Recycling Re-Use and Remanufacture at WMG, said: "We are delighted to be working alongside Recyclus to further develop and enhance our battery recycling capabilities. As an academic institution, our requirements are unique, and the Recyclus system offers the greatest balance of compactness, to be seamlessly integrated into our laboratory, and robustness to powerfully shred large modules. Upon its delivery, the shredder will provide a significant enhancement to our capabilities."

Robin Brundle, Chairman of Technology Minerals, said: "We are delighted to secure this order to supply a Li-ion battery recycling shredder to WMG using our leading technology and proven recycling process. WMG are a leader in R&D for Li-ion battery recycling so to secure their endorsement speaks volumes for our teams' capabilities, expertise and innovative technology.  Through this partnership with WMG we will continue to lead the way as a pioneer in the battery recycling market."

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 raw material exploration required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. 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 increase substantially. 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 from Technology Minerals, Recyclus is an integral component to the recycling of Li-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.

About WMG

WMG is a leading academic department at the University of Warwick that was established by Professor Lord Kumar Bhattacharyya in 1980. WMG has an international reputation for collaborative R&D and world class education. What makes us unique is our multidisciplinary approach to innovation. Pushing the boundaries for science and technology-driven businesses, we enable the transfer of knowledge into new areas to make a real impact on society and the economy. We have forged strong partnerships with over 1,000 global companies, leading on major multi-partner projects across sectors including automotive, aerospace, and defence, business, energy and utilities, food and drink, healthcare, IT, security, and rail. We are proud that UK government reviews have cited us as an international role model for university and business collaboration.