Technology Minerals PLC (LSE:TM1) has welcomed the UK government’s battery strategy, which highlighted the company's 48.35%-owned recycling business, Recyclus.
Published by the Department for Business & Trade, the report cites Recyclus as: "The country's first and only industrial-scale recycling facility.
“It is licensed to turn 22,000 tonnes of spent lithium-ion batteries, taken from a range of sources including electric cars, each year into black mass without using water, and has a low carbon footprint."
Robin Brundle, Technology Minerals chairman and a director of Recyclus, said: "We welcome the purpose and positive direction of the UK battery strategy and its key relevance to the future development and investment into the UK's battery ecosystem.
“We continue to work alongside the government team and taskforce members as we all seek to build upon the UK's capabilities to build a thriving battery supply chain to support industry sectors in the UK."
Recyclus' first UK li-ion plant is operational and is receiving a steady influx of li-ion battery waste from various commercial sources for which it has already achieved up to 45% net black mass yield.