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Agreement to recycle Beryl e-bike LIBs
Agreement to recycle Beryl e-bike LIBs.
About this update from Technology Minerals Plc
[{"type":"text","content":"\n\nThe 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. \n \n18 March 2024\n \nTechnology Minerals Plc \n(\"Technology Minerals\" or the \"Company\") \n \nRecyclus to recycle lithium-ion batteries from e-bike and e-scooter operator Beryl\n \nTechnology 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 signed an agreement with UK-based shared sustainable transport operator, Beryl, to recycle waste lithium-ion (\"Li-ion\") batteries from its fleet of e-bikes and e-scooters.\nBeryl will send its Li-ion battery waste to Recyclus' Wolverhampton facility for processing and recycling. Recyclus' cutting-edge plant is the first and only industrial scale Li-ion battery recycling plant in the UK, equipped to resolve the challenges created by increasing volumes of Li-ion battery waste generated as the world shifts towards electrification.\nThe agreement provides Beryl with a solution for recycling the Li-ion e-bike and e-scooter batteries needed to decarbonise urban travel, and forms part of its strategy to develop accredited recycling partnerships with firms specialising in hard-to-recycle waste such as Li-ion batteries. Recyclus will receive gate fees for receiving the Li-ion batteries, as well as any sales of black mass and other recoverable materials produced from the recycling process.\nBeryl operates 19 shared transport schemes with some of the UK's leading transport authorities. From e-scooters in Birmingham to e-bikes in Leeds and e-cargo bikes in Westminster, Beryl is helping to decarbonise urban transport systems across the country. Since launching its first scheme in 2019 to December 2023, Beryl has generated nearly 4.8 million journeys, over nearly 15 million kilomet...