Lithium-ion battery recycler Recyclus faces an HMRC winding-up petition after missing payments under a tax repayment plan. Parent Technology Minerals, which owns about 48% and is owed roughly £9.6 million, is negotiating funding.
An external investor has backed funding, subject to final terms, to clear the petition and pay other creditors. LiBatt Recycling continues operating in Wolverhampton and is not subject to the petition.