Business
Recyclus Operational Update
Recyclus Operational Update.
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 \n22 August 2024\nTechnology Minerals Plc\n \n(\"Technology Minerals\" or the \"Company\")\nRecyclus Operational Update\n \nTechnology Minerals Plc (LSE: TM1), the UK's pioneering firm in establishing a circular economy for battery metals, provides the following update regarding its 48.35% owned battery recycling business, Recyclus Group Ltd (\"Recyclus\"). \n \nEnd-of-Life LIB production to Black Mass\nFurther to the update on 4 July 2024, Recyclus has continued to progress operations at its lithium-ion (\"Li-ion\") recycling facility. Recyclus' industrial-scale facility, the first of its kind in the UK, operated every day with a high level of availability and shredding production levels surpassed the current budgeted level for the month. The production input included batteries received and processed from automotive, e-bike and waste management clients.\n \nDischarge & Dismantle\nThe Recyclus new Discharge and Dismantle Unit (\"DDU\") for Li-ion batteries at its Wolverhampton site is now operational and processing inventory. The new DDU strategically positions Recyclus as the UK's first industrial-scale full-service collection-to-black mass separation solution. The new unit will provide various cost benefits and increases in productivity for the Company, allowing Recyclus to discharge and dissemble EV batteries on-site before processing. This offers an end-to-end solution to automotive OEMs and industry customers and partners.\n \nBlack Mass Offtake\nRecyclus has strengthened its position as a seller of black mass, having established an offtake agreement with a leading player in the industry, India's largest battery recycler, LOHUM. The partnership with Lohum originated from Recyclus' academic partnership with the University of Birmingham. This collabora...