31st Jan 2022 13:55
Technology Minerals PLC - London-based company specialising in battery metals - Subsidiary Recyclus Group Ltd opens first lead-acid battery recycling plant in Tipton, West Midlands, England. Plant will commence operations next Monday, with a recycling capacity of 16,000 tonnes in the first year, rising to around 80,000 tonnes by 2027. The recycling will be fully automated. It will break down the entire battery into constituent parts to recycle and recover lead, acid, and plastic, which can be re-used in wide range of industries.
Recyclus also will open new lithium-ion recycling facility in Wolverhampton, expected to open in February. TM owns 49% of Recyclus.
Technology Minerals Chair Robin Brundle comments: "The UK has been in dire need of industrial-scale battery recycling technologies and the opening of this new plant at Tipton will help to provide a national capability to recycle lead-acid batteries. This is the first of ten plants Recyclus expects to open over the next six years to be a first mover in the battery recycling sector with its innovative IP in the Lithium-ion sector a driving factor in its expansion strategy."
Current stock price: 4.83 pence, up 15% on Monday
12-month change: up 48% from 3.25p on Nov 17
By Elizabeth Winter; [email protected]
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