Technology Minerals Plc (LSE:TM1) has announced that its battery recycling subsidiary, Recyclus Group Ltd, has obtained a £1.1 million loan from Close Brothers Group plc. The funding will be directed toward further development of Recyclus’ Wolverhampton facility, with the aim of improving operational efficiency and profitability. This financial support marks a strategic step in strengthening the company’s position within the battery recycling sector and enhancing long-term revenue potential.
While the company’s overall outlook remains weak due to ongoing financial losses and limited revenue generation, recent developments in its battery recycling business represent positive momentum. If successfully implemented, these initiatives could lay the groundwork for improved performance and future growth.
About Technology Minerals Plc
Technology Minerals is a UK-based company focused on establishing a circular economy for battery materials. It is engaged in both the exploration of raw materials for lithium-ion batteries and the recycling of end-of-life batteries. Through its innovative approach to recovery and reuse, the company aims to support the global transition to renewable energy while mitigating environmental impact.
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