Technology Minerals’ battery recycling business surpasses expectations [Video]

Technology Minerals PLC (LSE:TM1) chairman Robin Brundle tells Proactive’s Stephen Gunnion about recent developments at the company’s 48% owned battery recycling solutions business, Recyclus.

Brundle shared the exciting news of winning a £50,000 Clean Future Accelerator grant from the government, aimed at advancing battery recycling technology. He highlighted that in July, the plant processed 51 tonnes of batteries, marking a significant increase in throughput. The company achieved 81% plant availability, surpassing the revised 2024 budget projections.

Brundle also discussed the ongoing challenges with feedstock supply, mentioning that while new automotive contracts are expected to increase battery volumes in the coming months, the delay in releasing lithium-ion battery materials has been frustrating. He revealed that Technology Minerals is now seeing repeat customers and increased inquiries, signalling an inflection point in its operations. With two automotive contracts already in place and more expected soon, the company is poised for growth in the battery recycling sector.

Brundle concluded by thanking investors for their patience, noting that the contracts, though delayed, will soon begin to deliver results.

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