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.

24 February 2025

Technology Minerals Plc

("Technology Minerals" or the "Company")

TFS licence approved for sale of black mass

First delivery under the black mass offtake agreement with Glencore to be shipped to Europe in March 2025

Technology Minerals Plc (LSE: TM1), the UK's pioneering firm in establishing a circular economy for battery metals, is pleased to announce that its 48.35% owned battery recycling business, Recyclus Group Ltd ("Recyclus"), has secured a Transfrontier Shipment of Waste ("TFS") licence for the transportation of black mass to Europe under its offtake agreement with Glencore plc ("Glencore"), announced on 17 December 2024.

Recyclus will commence shipping the black mass in March following the agreement to sell black mass to Glencore's European network and operations.

Black mass is produced at Recyclus' industrial-scale lithium-ion ("Li-ion") battery recycling facility and contains valuable metals such as lithium, manganese, nickel, and cobalt that can be reprocessed and sold back into the battery supply chain. Black mass represents a highly valuable commodity in the recycling industry and is a key revenue stream for the recycling facility.  

The TFS licence is required under government regulations to allow companies to legally move waste across borders internationally. This is to ensure that the management, transportation, disposal and recovery of waste is addressed in an environmentally friendly approach.

Robin Brundle, Chairman of Technology Minerals and Director of Recyclus, said: "We are delighted to have received the required approvals to sell black mass under our agreement with Glencore. The first 100 tonnes shipment of black mass to Europe is scheduled for March and represents a landmark moment for Recyclus. To secure an agreement with a partner as renowned as Glencore is a strong endorsement of Recyclus' technology and the quality of black mass we produce, and we look forward to building on our partnership with them."

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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 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 lithium-ion and lead acid batteries and is a significant contributor towards the circular economy for battery metals. Further information on Recyclus Group is available at https://www.recyclusgroup.com/.