Technology Minerals PLC (LSE:TM1) shares were powered up on Wednesday after reporting developments at its battery recycling associate, Recyclus.
Recyclus has been issued with a Schedule 5 Notice by the Environment Agency (EA) as part of the permit application for its lithium-ion recycling plant in Wolverhampton, the final stage before a licence is determined.
If successful, it will enable the plant to start recycling operations.
As part of the notice, the EA has asked Recyclus "to provide clarification regarding its fire/disaster planning and minor questions about the processes of the plant", said the statement.
The company is in the process of responding to the information requested, it added, after which it expects the licence determination to be received shortly thereafter.
Robin Brundle, Technology Minerals' chairman, said: "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.
“Upon receipt of the licence, for the first time, the UK will have an industrial scale recycling capability for lithium-ion batteries.
“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.”
Shares in Technology Minerals jumped 14% to 1.25p.