The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

4 September 2024

Technology Minerals Plc

("Technology Minerals" or the "Company")

Awarded £50k by Clean Futures Accelerator Programme

Technology Minerals Plc (LSE: TM1), the UK's pioneering firm in establishing a circular economy for battery metals, is pleased to announce that its 48.35% owned battery recycling business, Recyclus Group Ltd ("Recyclus"), has been awarded £50,000 in funding by Clean Futures Accelerator Programme, headed by Catapult Connected Places, the UK's innovation accelerator for cities, transport, and place leadership. In alignment with this initiative, Recyclus will be matching the grant with an additional £50k.

The funding will allow the company to continue to develop a groundbreaking recycling process for lithium thionyl chloride ("LTC") batteries. These batteries are commonly used in devices that require long life spans, including fire alarms, smart meters and a wide range of industrial applications. Currently, there is no established method of recycling LTC batteries in Europe, and while some are exported, many remain discarded in the UK, posing a growing environmental risk due to harmful chemicals found in the batteries.

Recyclus' industrial-scale Lithium-ion ("Li-ion") recycling facility, the first of its kind in the UK, aims to establish a safe and effective process to recycle LTC batteries, ensuring that the recovered lithium is reintroduced into the supply chain.

In addition, on 29 August, Recyclus set a record throughput for processing Li-ion batteries under 4kg in a single shift at its Wolverhampton Li-ion recycling facility, successfully shredding 7.2 tonnes of batteries. This milestone included a range of small batteries sourced from handheld devices that had been obtained through strategic partnerships by the company. E-Bike, automotive and traction batteries were not being processed during this period. This record underscores Recyclus' commitment to advancing sustainable Li-ion recycling in the transition to electrification and the growing commercial traction of its recycling solutions.

Robin Brundle, Chairman of Technology Minerals and Director of Recyclus, said: "We would like to extend our thanks to Catapult Connected Places for their confidence in our vision and mission to constantly improve the effectiveness of our recycling technologies.

"Our recent achievement of setting a new processing record at our Li-ion recycling facility highlights our ability to progressively ramp-up our recycling process, providing a key sustainable solution within the recycling industry to the issue of discarded Li-ion batteries. This funding will allow us to continue driving innovation and advancing a more sustainable future across all industrial sectors in the shift to electrification."

Anwar Sattar, Scientific Director at Recyclus, commented: "This is a tremendous opportunity for both Recyclus and the UK. LTC batteries contain up to 5% lithium by mass, and recycling this material strengthens our national resource security. Recycling just one tonne of LTC batteries can produce enough lithium to power seven large electric vehicles."

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Technology Minerals Plc

Technology Minerals is developing the UK's first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on raw material exploration required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers. Further information on Technology Minerals is available at  www.technologyminerals.co.uk.

Recyclus Group Ltd

The demand for the raw materials used in battery manufacturing is anticipated to increase substantially. Recyclus Group provides a national recycling initiative that supports the transition to carbon neutrality. Recyclus Group's battery recycling capacity will prove essential in the shift from fossil fuels to electric transportation. Through its strategic support from Technology Minerals, Recyclus is an integral component to the recycling of lithium-ion and lead acid batteries and is a significant contributor towards the circular economy for battery metals. Further information on Recyclus Group is available at https://www.recyclusgroup.com/.