LONDON: Technology Minerals Plc (LSE: TM1) announced Tuesday that its battery recycling subsidiary, Recyclus Group Ltd, has secured a 12-month contract with a global industrial company to recycle lithium-ion batteries at its Wolverhampton facility.
The deal will see Recyclus process end-of-life Li-ion batteries, receiving gate fees for collection and generating revenue from the sale of recovered materials, including black mass, a key component in battery recycling.
“This is our largest contract win to date,” said Technology Minerals CEO and Recyclus Director Alex Stanbury. “Securing a 12-month agreement with a global major—potentially worth up to £2 million—marks a significant milestone for Recyclus and reflects strong commercial momentum.”
The agreement is the latest in a series of contracts for Recyclus, highlighting growing industry confidence in its recycling solutions amid rising demand for battery waste management as electrification expands worldwide.