Technology Minerals’ Recyclus Secures Major Battery Recycling Contract

The latest announcement is out from Technology Minerals PLC ( (GB:TM1) ).

Technology Minerals Plc’s subsidiary, Recyclus Group Ltd, has secured its largest contract to date, a 12-month agreement with a global industrial group to recycle lithium-ion batteries at its Wolverhampton plant. This contract, potentially generating up to £2 million in revenue, underscores Recyclus’ growing reputation and strengthens its position as a leading provider of battery recycling solutions, crucial for addressing the increasing demand for sustainable battery disposal as electrification advances.

Spark’s Take on GB:TM1 Stock

According to Spark, TipRanks’ AI Analyst, GB:TM1 is a Neutral.

Technology Minerals PLC’s financial performance is weak, with no revenue and persistent losses, which heavily impact the overall score. However, positive corporate events and strategic advancements in the battery recycling sector provide some hope for future growth. Technical indicators suggest some stabilization, but the valuation remains poor due to ongoing losses.

To see Spark’s full report on GB:TM1 stock, click here.

More about Technology Minerals PLC

Technology Minerals Plc is a UK-based company focused on creating a sustainable circular economy for battery metals. The company specializes in recycling, recovering, and re-using battery technologies, particularly lithium-ion batteries, to support a renewable energy future. It is also involved in raw material exploration necessary for lithium-ion batteries, addressing ecological concerns by recycling spent batteries for reuse by manufacturers.

YTD Price Performance: -54.44%

Average Trading Volume: 36,844,262

Technical Sentiment Signal: Strong Buy

Current Market Cap: £1.98M

For a thorough assessment of TM1 stock, go to TipRanks’ Stock Analysis page.