LONDON, UK / ACCESSWIRE / May 12, 2021 / Globally it’s very hard to get detailed figures for what percentage of lithium-ion batteries are recycled, but the value often quoted is about 5%. That’s simply unsustainable when working with finite quantities of the resources required to produce them. Within the UK, there have been many government schemes to encourage the use of EVs but less of a popular focus on what would be done with the batteries required to power them. “Zombie” batteries have been a growing concern. “An electric vehicle will burn for much longer than an internal combustion vehicle. They give off potentially explosive and toxic fumes. They can reignite hours, days, or weeks after the incident,” says Prof Christensen, professor of pure and applied electrochemistry at the University of Newcastle.
Volkswagen and Nissan use their old batteries to power the automated guided vehicles that deliver parts to workers in its factories, and the former has recently opened its first recycling plant. Renault is already making an even larger commitment proposal. These companies are ahead of the game when it comes to addressing issues associated with lithium-ion batteries.
Yet, with no specific recycling plants in the UK, concerns have been expressed about the sustainability of mass EV adoption given the limited nature of essential resources. However, there is a solution for the UK markets, and they’re looking for investment to be able to get the UK up to speed in the EV arms race.
Technology Minerals, due to IPO imminently, has raised significant funds over the past 12 months to create working capital for the group. Focused on creating a circular economy for battery metals, crucial to the rollout and sustainability of EV mass adoption, Technology Minerals will be the first and only UK company to extract the raw materials required for Li-ion Battery cathodes and then help solve the ecological issue of spent Li-ion batteries by recycling them for reuse by battery manufacturers.
The group comprises several battery metals exploration & development projects, strategically spread between the US/Europe and Africa, in order to meet the upcoming demand, and forecast shortages of Nickel & Cobalt. For more details on Technology Minerals’ upcoming IPO, visit their website.
About Technology Minerals
Technology Minerals is a holding company developing the UK’s First sustainable circular economy for battery metals by focusing on extracting the raw materials required for Li-ion Battery cathodes and then help solve the ecological issue of spent Li-ion batteries by recycling them for reuse by battery manufacturers. Technology Minerals is comprised of mining assets and a major recycling group, laying the foundations for the UK’s first meaningful green circular economy in the battery industry. For more information please visit, www.TechnologyMinerals.co.uk.
SOURCE: Technology Minerals