Technology Minerals PLC (LSE:TM1) said Recyclus Group Ltd, its 49%-owned battery recycling business, has processed the first batch of lead-acid batteries at its battery recycling plant in Tipton, West Midlands.
The first 19 tonnes of end-of-life batteries were manually processed and recycled into 16.5 tonnes of lead, lead plate and other recovered materials.
Recyclus is in discussions with several potential buyers for the recycled materials and will update the market in due course, said Technology Minerals.
READ: Technology Minerals says to take full ownership of battery recycling associate Recyclus
The facility is licenced to undertake manual recycling activities. Recyclus plans to scale up its operations at Tipton while preparing to start industrial-scale automated processing once it has received final approval from the Environmental Agency.
"We are delighted to process the first batch of end-of-life batteries as Recyclus looks to ramp up its operations at the recycling plant in Tipton,” said Robin Brundle, chairman of Technology Minerals in a statement. “We have seen strong demand for the recovered materials and look forward to securing first sales and generating cashflow at Tipton.”
In October, Technology Minerals announced its plans to acquire the remaining shares in Recyclus.
More than 18,000 tonnes of lead-acid spent batteries are incinerated each year in the UK alone, according to Recyclus.