Job cuts and leadership changes set for battery recycling group
Jobs will be axed at a pioneering battery metal recycling firm, “to increase efficiencies and drive productivity”.
Technology Minerals has announced a cost reduction programme after reviewing operations and will cut jobs across its workforce, including in its subsidiary Recyclus Group.
As part of the programme, Philip Beard has agreed to step down as an Independent Non-Executive Director and as Chairman of the Remuneration Committee with immediate effect.
In view of the reduction in the number of Independent Non-Executive Directors, the future composition of the Board and its committees will be reviewed and the appointment of a new Chair of the Remuneration Committee will be announced soon.
Recyclus Group operates across the Black Country, including a lithium-ion (Li-ion) battery recycling facility in Wolverhampton.
In April 2023, Recyclus secured an Environment Agency permit that allows the company a daily storage limit of around 100 tonnes of Li-ion batteries on the site and to process up to 22,000 tonnes of Li-ion batteries per year.
The facility has the capacity to recycle up to 15,000 tonnes of lead-acid materials during the first full year of operations. Over the coming years, Recyclus says its committed to scaling up its efforts, with a target of processing a cumulative total of 80,000 tonnes across the subsequent four lead acid plants.
Robin Brundle, Chairman of Technology Minerals, said: “These cost reduction measures have been identified as part of the Board’s efforts to increase efficiencies and drive productivity throughout every level of the business.
“On behalf of the Board, I’d like to extend our thanks and appreciation to Phil for his contribution to the Company. We are grateful for all the strategic guidance Phil has provided to Technology Minerals and wish him the best in his future endeavours.”
