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How Will the UK Compete with America in the EV Race? Does the Innovative Company Technology Minerals Hold the Key?

LONDON, UK / ACCESSWIRE / May 14, 2021 / According to Biden's press statement on the 22nd of April, the USA plans to replace the entire federal fleet with electric cars. The US federal government owns 645,047 motor vehicles; most of the fleet are white US Postal Service vans, which make up almost a third. Another third are passenger cars. The rest are construction vehicles, passenger vehicles and armoured vans.

While this sustainable move is admirable, the potential issue is how America sets the standard for other countries to follow. Unlike America, the UK has significantly fewer resources available to manage battery waste after their lifespan is spent. This creates a dangerous precedent.

By 2040, 339,000 tonnes of EV batteries are expected to reach their end of life. The average value in end of life automotive batteries is £3.3/kg for battery electric vehicles. Without adequate facilities and industries to recycle these batteries, the UK looks set to undo any forward-thinking movement towards more environmentally-friendly automotive adoption and a potentially costly loss of new business to countries abroad with better setups.

So far, the most promising recycling solution in the UK seems to be Technology Minerals which provides end to end battery recycling for EVs. They aim to fill the gap in the market and support the UK in its sustainability mission.

Technology Minerals holds key mining assets and a significant recycling group, laying the foundations for the UK's first circular economy in the battery industry. This, so far, is the only apparent avenue the UK has to achieve their goal to cut CO2 emissions by 68%. By 2030, they'll require 46% of the UK's 35 million cars to be zero-emission vehicles.

Technology Minerals is about to IPO, and has raised funds over the last 12 months to create working capital for the group. Technology Minerals will be the first 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.

Companies like Technology Minerals show interesting potential for the future of the UK's mass EV adoption. If the UK wants to compete on a global stage from a environmental and financial perspective in this emerging new market, then future businesses need to follow their path in identifying and delivering solutions that address these types of challenges.

Media Contacts -
Name - Technology Minerals
E-mail - invest@technologyminerals.co.uk
Phone no - 0203 432 3080
Company - Technology Minerals
Address - 18 Savile Row, London, W1S 3PW UK

SOURCE: Technology Minerals



View source version on accesswire.com:
https://www.accesswire.com/647421/How-Will-the-UK-Compete-with-America-in-the-EV-Race-Does-the-Innovative-Company-Technology-Minerals-Hold-the-Key

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