Circular Economy in EV Industry Being Made Possible by One Company?
Having raised significant funds to fast track the commercial growth of a unique, end-to-end battery recycling solution, Technology Minerals have recently announced their imminent IPO on the LSE.
The group holds the facilities and resources needed to extract and recycle the raw materials required to fuel electric vehicles (EVs) and is positioning itself as the first UK-based circular economy for battery metal recycling. This is an exciting prospect given the renewed push from the UK Government and the public for EV mass-adoption.
In Europe, EV sales increased 127% last year, while the battery capacity deployed was 174% higher. Globally, the demand forecasts for the key materials required to power mass-EV adoptions are staggering.
Despite this excitement, the main environmental issue associated with EVs, is the difficulty to recycle the lithium-ion batteries they require. This forms an odd paradox with the world shifting to a more environmentally-conscious solution that may, in-turn, become environmentally-damaging. The major car manufacturers have explained elements of potential future refinements, but the environmental charge currently is being led by younger, exciting businesses.
One of these businesses is Technology Minerals. Working with the global automotive industry, this British business offers comprehensive, contracted solutions that cover every stage of a car battery’s life-cycle. Ethical mining projects extract the key raw materials, like cobalt, that are required to create the batteries that power electric cars. The group then also has the facilities and technology to recycle the spent lithium-ion batteries, a missing piece in the UK’s sustainable vehicle puzzle.
This early-to-market positioning has proved attractive to initial seed investors with pre-IPO raises filling quickly. Set to IPO imminently, the company has attracted significant attention and looks set to grow fast.