Technology Minerals PLC (LSE:TM1) has revealed that its battery recycling associate, Recyclus, has identified a prospective site for its second Li-ion battery recycling plant in the UK. Ongoing discussions with relevant authorities aim to expedite the necessary permitting processes, potentially marking Recyclus’s third plant overall.
As part of its expansion plans, Technology Minerals is in the process of acquiring the remaining 48% of Recyclus, anticipating the circulation of a prospectus in the first quarter of the upcoming year. Currently, Recyclus operates the UK’s inaugural industrial-scale lithium-ion battery recycling plant in Wolverhampton, with an ambitious target to recycle 8,300 tonnes of Li-ion batteries in the first full year, escalating to over 20,000 tonnes by 2025.
A key revenue stream for Recyclus’s Li-ion facility is derived from the recycling and recovery of black mass, successfully achieving the targeted 45% net black mass yield. Black mass contains essential battery minerals such as lithium, manganese, nickel, and cobalt, which can be reprocessed and reintroduced into the battery supply chain.
In pursuit of regulatory compliance, Recyclus has applied for a Transfrontier Shipment of Waste (TFS) license, concurrently engaging in advanced discussions for long-term offtake arrangements. While awaiting TFS permitting and suitable offtake agreements, Recyclus is accumulating a monthly inventory of black mass for future shipments.
Notably, Recyclus has already secured its first orders for LiBatt boxes from Waylands, an automotive retail group. These boxes are designed to store waste Li-ion batteries and will be deployed across Waylands’ Volvo retail network sites in Bristol, Reading, and Oxford, exemplifying Recyclus’s commitment to sustainable and responsible battery waste management.
