Recyclus Group has received a final approval draft from the Environment Agency (EA) for what is set to become the first industrial scale lithium-ion battery recycling plant in the UK.
The Wolverhampton plant has the potential to recycle up to 8,300 tonnes of Li-ion batteries in its first year of operation. Plans currently in the works to build an additional five plants would boost this figure to around 41,500 tonnes.
Official EA certification is expected imminently, at which point the plant will immediately commence on-site treatment and processing of spent batteries.
Through the operation, Recyclus will receive revenues from gate fees for the collection of Li-ion batteries.
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It will also benefit from the production of black mass, which contains critical battery metals for recycling into the battery supply chain. A recent study from BIS Research valued the global black mass recycling market at $9.22 billion in 2022, rising to a projected $53 billion by 2031.
Recyclus Group is owned by Technology Minerals plc, which announced plans to increase its share in the company from 48.25 to 100 per cent late last year.
Robin Brundle, Chairman of Technology Minerals, said: “Receiving the EA final approval draft to commence full automated operations is a landmark moment for the Company and for the UK.
“With feedstock stored and ready to be processed, everything is in place to kick start operations at the facility and commence generation of cash flow.
“As the world transitions to electrification and demand for Li-ion batteries increases, we believe we have a strong first mover advantage for what is an industrial scale opportunity.
“We look forward to building long term relationships with businesses and organisations, both in the UK and internationally, which need a solution for their end-of-life batteries.”
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