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Technology Minerals #TM1 – Interim Results

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce its results for the six months to 31 December 2021. 

Highlights

·      Raised £1.5 million before expenses from admission to the London Stock Exchange in November 2021, which followed a pre-IPO fundraise that raised approximately £5 million

·      Recyclus Group (“Recyclus”), a 49% Technology Minerals owned company, partnered with Slicker Recycling Limited (“Slicker Recycling”), whereby Slicker Recycling will collect battery waste from around the UK and transport it to the closest Recyclus plant

·      Recyclus agreed an engineering development partnership (EngD) with WMG at the University of Warwick, a leading academic group providing research, education and knowledge transfer in engineering, management, manufacturing and technology

Post Period

·      Recyclus opened first recycling site in Tipton in January 2022 – new facility will help provide national capability for lead-acid battery recycling and commissioning of the plant is going well.

·      In January 2022, Recyclus opened first laboratory suite at its new battery processing facility in Wolverhampton, UK, to carry out in-house testing for both lead acid and lithium-ion (“Li-ion”) battery recycling processes

·      In February, received encouraging set of results from sampling survey at the Oacoma Project, which confirmed the presence of manganese and rare earth oxides (“REO”)

·      Received positive initial results from a due diligence sampling survey at the Asturmet Copper-Cobalt-Nickel (“Cu-Co-Ni”) Project in Asturias, NW Spain

·      In March, acquired Blackbird Creek Property (Idaho, USA), a project covering 1,285 hectares within the Idaho Cobalt Belt, with potential to host significant Cu-Co deposits

Alex Stanbury, Chief Executive Officer of Technology Minerals, said: “It has been a great six months for the development of Technology Minerals.  We successfully listed on the London Stock Exchange in November and raised capital to accelerate our development plans and pursue our growth strategy to create a circular economy for battery metals.

“Our aim is to build ten battery recycling plants within six years in the UK, with the first two coming online in the second half of this year.  Through our innovative technology, for the first time in the UK, there will be the capability to recycle Lithium-ion batteries on an industrial scale. Alongside the battery recycling business, our exploration assets are focused on the extraction of key battery metals with a strategy to bring early-stage projects up the value curve in a capital light manner and attract partners to fund their development. 

“Between battery recycling and the extraction of metals, we aim to cover the entire mineral life cycle from exploration and mining through to end-of-product recycling for cobalt, lithium, nickel, and manganese. Technology Minerals is in prime position to take advantage of the global swing to electrification as electric vehicles replace the internal combustion engine and the pressing necessity for battery metals heightens.  We are providing a solution to a critical need in the global transition to a more sustainable, green economy.”

Enquiries

 

Technology Minerals Limited

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

info@technologyminerals.co.uk

Arden Partners Plc

Ruari McGirr, George Morgan

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

About 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 

Link here for full management reports and financial statements

Technology Minerals #TM1 – Professor Dave Greenwood CEO WMG centre High Value Manufacturing Catapult – Talking Batteries

Professor Dave Greenwood, Chief Executive Officer WMG centre High Value Manufacturing Catapult, talking about WMG and Recyclus working together on innovative commercial solutions for the recycling of the key metals for second life use in lithium batteries.

#TM1 Technology Minerals – Technology Minerals Chairman Robin Brundle – Talking Batteries by Recyclus + WMG Part 1

 

Technology Minerals Plc (LSE: TM1),  the first listed UK company focused on creating a sustainable circular economy for battery metals, are supporting the agenda for COP26 very strongly and have announced WMG as a knowledge transfer partner.

WMG is an academic department at the University of Warwick and is the leading international role model for successful collaboration between academia and the public an

d private sectors, driving innovation in science, technology and engineering, to develop the brightest ideas and talent.

Technology Minerals, has collaborated with WMG for a four-year Engineer Doctor Program. Technology Minerals’ 49% owned industry leading battery recycling company – Recyclus Group will share their immense knowledge of lithium-ion and recycling batteries with WMG which will help them to teach bright young people out of university. As part of the knowledge transfer, Technology Minerals will also receive access to the laboratories in which WMG have invested £80mn over the last decade.

The collaboration is crucial as students learnings are through, researching optimising the processes at Recyclus and analysing the materials coming out of the battery so it’s good enough

to be recycled,  rather than academic research.

This collaboration will bring benefits to both Technology Minerals and WMG. As by working with companies like Recyclus not only do WMG’s researchers help to improve the UK battery industry and the capabilities of Technology Minerals and Recyclus Group but the WMG research team get to experience and work on real world problems.

Technology Minerals #TM1 and Recyclus Group open UK laboratory

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce it has opened its first laboratory suite at its new battery processing facility in Wolverhampton, UK.  

The new laboratory enables Recyclus Group, a 49% Technology Minerals owned company, to carry out its own in-house testing for both lead acid and lithium-ion (“Li-ion”) battery recycling processes.  

The testing facility comprises specialised equipment including an X-ray fluorescence machine (“XRF”) used for measuring the elemental composition of the various battery products. This technology is especially important for examining the lead content of the lead oxide paste and the levels of sulphur which, in turn, ensures the quality of the end product.

The laboratory also houses a Gas Chromatograph with an auto sampler which – when used in conjunction with wet chemical analysis – is crucial in establishing lithium levels and monitoring the in-process products to avoid any potential contamination. The facility has fire-safe, lockable cabinets for housing all the essential analytical chemicals used in the close monitoring of both the lead and lithium recycling processes. 

Robin Brundle, Chairman of Technology Minerals, said: “The opening of a new specialised laboratory at our battery processing facility in Wolverhampton is in line with our strategy and development programme for commissioning the first of our lithium-ion plants. It is another step towards our goal to significantly increase our recycling capacity in 2022 for lead-acid and lithium-ion batteries and ultimately help enhance the UK’s capabilities for battery recycling.”

Enquiries

 

Technology Minerals Limited

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

 

Alfred Henry Corporate Finance Limited

Nick Michaels

+44 203 772 0021

Arden Partners Plc

Ruari McGirr

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

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  

Technology Minerals #TM1 and the Recyclus team in attendance at this weeks London EV Show

Technology Minerals and the Recyclus team in attendance at this weeks London EV Show @londonevshow

The event offers an exclusive platform for companies in the EV industry to showcase the latest products, services and innovations.

Visit Technology Minerals #TM1 at Stand G5 at the London EV Show

Come and meet the Technology Minerals #TM1 team on Stand G5 at the London EV Show. The show runs from today (Dec 14) to Thurs Dec 16 at the Business Design Centre, 52 Upper St, Islington, London N1 0QH.

      

Technology Minerals #TM1 – Recyclus and WMG Partnership

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 agreed an engineering development partnership with WMG at the University of Warwick, a leading academic group providing research, education and knowledge transfer in engineering, management, manufacturing and technology. 

WMG and Recyclus have created an Engineering Doctorate (“EngD”) focused on battery recycling technologies and a transfer of current and future applications. The EngD encompasses a four-year programme supporting talented individuals at varying career stages to develop new critical skills sets in this sector and will also focus on addressing contemporary industrial and technical challenges across the battery recycling sector.

Recyclus has developed the first industrial scale process that can work across all of the key Lithium-ion (“Li-ion”) battery technologies and Recyclus and WMG will be sharing this important technology through the research programmes at WMG, working across a range of development areas.

Professor David Greenwood, WMG Director for Industrial Engagement and CEO of the WMG centre High Value Manufacturing Catapult said: 

“Whilst the UK industry has been remarkable in building a world class ecosystem supporting the development of our battery manufacturing capability, we must continue to innovate to capitalise on that success. 

In our September 2020 report, WMG highlighted that by 2040, UK automotive lithium-ion battery cell production alone will require 131,000 tonnes of cathodic metals. With the right infrastructure, recycling can supply 22% of this demand. This represents not only a positive environmental impact, but large savings for manufacturers that build the business case for increased battery recycling capabilities in the UK. 

The Recyclus Group Investment was needed to create suitable recycling facilities in the UK, and their process allows economic recovery of a large percentage of battery material. The process will help protect the environment, secure valuable raw materials, reduce the cost of transport and support the UK with its COP26 commitments. 

Our joint EngD programme will help drive the development of the skills base that will support the circular economy that we will see develop around battery materials as we accelerate the transition towards an electrified future” 

Alex Stanbury, Chief Executive Officer of Technology Minerals, said: “The Recyclus team have been working with WMG for nearly two years now, both sharing our respective expertise as we have been developing our proprietary processes across the five battery chemistries, and learning from WMG’s world-class research programmes. These are critical to achieving a leadership position for the UK, particularly developing proprietary technology for the processing of black mass into the key metals that can go back into the UK battery gigafactories supply chain and therefore significantly reduce the supply-side pressures.

There is a clear demand building as a result of the quantum shift to transport electrification, and that is now extending into key UK sectors, including energy storage, freight and aerospace. Working with WMG we will remain at the forefront of our sector, focused on extracting raw materials required for lithium-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers.” 

With the shortage forecast for key battery minerals in the near-immediate future, there is a concern that the road to the rollout of more electric vehicles will be congested. According to the Copper Development Association (CDA), the average copper content of an ICE vehicle is around 23kg, and this will increase to 60kg for plug-in hybrid electric vehicles and to 83kg for pure EVs. Also, full electric buses can use between 224kg to 369kg of copper. According to a report released in February 2021 by the World Bureau of Metals Statistics ((WBMS)), the global copper market had a supply shortage of 1.391 million tons from January to December 2020, up from 383000 tons for the whole of 2019.

 According to an article published in Nature (Future Material Demand for Automotive Lithium-based Batteries, 9 Dec 2020), the increased demand between 2020-2050 for EVs will require a drastic expansion of lithium, cobalt, and nickel supply chains and likely additional resource discovery. The Directors believe that recycling of battery materials could play an important role in reducing the pressures on supply.  

Enquiries 

Technology Minerals Limited

Robin Brundle, Executive Chairman

Alexander Stanbury, Chief Executive Officer

+44 20 7618 9100

 

Alfred Henry Corporate Finance Limited

Nick Michaels

+44 203 772 0021

Arden Partners Plc

Ruari McGirr

+44 207 614 5900

Luther Pendragon

Harry Chathli, Alexis Gore, John Bick

+44 20 7618 9100

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