30th Mar 2023 15:41
(Alliance News) - Technology Minerals PLC on Thursday said that its partially-owned battery recycling business, Recyclus Group Ltd, has been awarded GBP2.0 million funding to create a mobile battery recycling system.
The battery metals developer said Recyclus has received the funding alongside the University of Birmingham from the UK government's Innovate UK programme.
Recyclus will lead the project, designing and building a compact prototype Universal Battery Recycling System, a mobile recycling truck that handles a complete range of lithium-ion battery modules from all areas of industry.
The main unit will be designed to accept batteries on an individual or batch-load basis and will implement a new industry standard that can benefit the UK and global recycling sectors.
"Securing this grant from Innovate UK is a strong endorsement for Recyclus, and we look forward to working with the University of Birmingham on this programme, which could be the catalyst for future collaboration," said Chair Robin Brundle.
Technology Minerals shares were trading 15% higher at 1.13 pence each in London on Thursday afternoon.
By Holly Beveridge, Alliance News reporter
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