Midweek Takeaway featuring Alex Stanbury and Robin Brundle of Technology Minerals (LSE:TM1) #TM1

Season 7, Episode 27,   Mar 22, 07:10 AM

Phil Carroll and Kevin Hornsby talk to Alex and Robin after the company announced that their subsidiary, Recyclus Group Ltd, has signed a MoU with a cleantech company to develop a low carbon technology for processing Lithium-ion (Li-ion) battery black mass, aiming to recover critical raw materials. This collaboration, leveraging a novel chemistry-based technology, promises higher efficiency and quality in material recovery compared to traditional methods. The process, operational within 18 months, will further Recyclus' mission to establish a circular economy for battery metals in the UK. Recyclus, operating the UK's first industrial-scale Li-ion recycling plant in Wolverhampton, is set to enhance the country's battery metal supply security and contribute to the electrification transition, aligning with national goals to reduce carbon emissions. In addition TM1 has secured a £5.5 million convertible bond facility with Atlas Capital Markets to support its sustainable battery metal circular economy initiatives, including the acquisition of Recyclus and expansion of its lithium-ion battery recycling operations. The facility, to be drawn in five tranches starting with £1.5 million, features a 5% annual coupon over the Bank of England base rate and accompanying warrants. This move comes as Technology Minerals addresses a shortfall in a previous facility with CLG Capital, with which it has begun termination proceedings. This strategic financing partnership with ACM underscores Technology Minerals' commitment to advancing its recycling and sustainability goals in the battery metals sector.

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The information, investment views, and recommendations in this podcast are provided for general information purposes only. Nothing in this podcast should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.