15th Feb 2023 11:31
(Alliance News) - Technology Minerals PLC on Wednesday said Recyclus Group has been provided with a schedule 5 notice by the UK Environment Agency for its lithium-ion recycling plant in Wolverhampton, England, meaning the approval process is nearly complete.
The company focusing on battery metals has a 49% interest in battery recycling business Recyclus and said the EA notice was due to Recyclus's variation of its environmental licence application for the Wolverhampton plant.
Technology Minerals said the schedule 5 notice is the final stage before a licence is determined, which if successful will enable the plant to commence recycling operations.
The UK government agency has asked Recyclus to provide clarification regarding its fire and disaster planning and minor questions around the processes of the plant, Technology Minerals said. It added Recyclus is in the process of responding to the information requested, after which it expects the licence to be approved shortly.
Technology Minerals said the Wolverhampton plant will be the first in the UK with the capacity to recycle lithium-ion batteries on an industrial scale, once the site is fully operational. It added it will be a "key foundation of Recyclus's ambition to increase its lithium-ion battery recycling capacity" to around 41,500 tonnes by 2027 from an estimated 8,300 tonnes in the first full year of operations.
"We are pleased to have received the schedule 5 from the EA, as it gives us a clear indication that the process of grant of licence is in its final stages," said Technology Minerals Chair Robin Brundle.
"Over the past few months, interest in our plant has increased significantly and we are in advanced discussions with companies and organisations from UK and across the globe. We look forward to progressing these once we have received the licence."
Shares in Technology Minerals were up 5.9% to 1.17 pence each in London on Wednesday morning.
By Greg Rosenvinge, Alliance News reporter
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