Technology Minerals PLC (LSE:TM1) hailed associate Recyclus for securing a place on the UK and Indian government-backed Transport and Energy Systems scheme.
Recyclus, in which Technology Minerals owns 48.35%, will get access to India’s lithium-ion electric battery sector through the scheme, the company said on Tuesday.
“India needs a solution to address rising volumes of discarded Li-ion batteries,” Recyclus co-founder Robin Brundle commented.
“Our selection evidences the UK government's view of Recyclus as a trusted company in establishing a cradle-to-cradle sustainable circular economy for battery metals, supporting the drive to electrification.”
Recyclus is developing the UK’s first industrial-scale lithium-ion recycling facility, alongside mobile solutions for processing discarded battery materials.
The Transport and Energy Systems scheme is designed to accelerate the development of decarbonisation technologies, with Technology Minerals noting Recyclus’ lithium-ion processing solutions were well placed to meet demand in India.