Minister for Critical Minerals Launches £50m fund from DEScycle’s Facility

On Monday, UK Industry Minister Chris McDonald had a glimpse of our under-construction demo plant, as part of a visit to announce a £50m investment to turbocharge domestic production of critical minerals as part of the Critical Minerals Strategy.The £50m fund will be split into: £25 million for projects across the extraction, processing, and recycling of critical minerals, £5 million to develop a critical minerals demand aggregation platform, and £20 million towards a magnet hub.DEScycle CCO and Co-Founder, Fred White, who is also Co-Chair of the Circular Economy Working Group at the Critical Minerals Association (UK), remarked:“We are nearing construction completion of our world-first demonstration facility, with key equipment installed ahead of commissioning. Our disruptive technology is reshaping how the UK views e-waste, transforming its treatment into a sovereign form of urban mining, and Teesside’s world-leading industrial heritage and skilled workforce make it the ideal location for our facility, deploying infrastructure directly supporting the UK’s Critical Minerals Strategy.”Our technology was invented in the UK, and now we’re helping to bring critical minerals infrastructure back to the country. Stay tuned as we continue to share updates on the demo plant and the role that we’re playing in helping the UK to achieve this vital ambition.