New Chairman and Strategic Board Appointments

New Chairman and Strategic Board Appointments

Descycle (or “the Company”), the deep tech company aiming to transform the metals industry, is pleased to announce several additions to its Board:

Ian Cockerill Appointed as Chairman:

Ian Cockerill, a senior figure within the metals industry, joins the Company as Independent Non-Executive Chairman, succeeding Geoff McNamara who will remain on the Board as a Non-Executive Director.

Ian has over four decades of experience in the metals industry beginning his career as a geologist before converting to engineering. During his career he has held senior roles covering operational, project and executive positions around the world.

Ian is an Independent Non Executive of Director of BHP Group Limited (since April 2019), one of the World’s largest metal producers, Senior Independent Director of Endeavour Mining Corporation (since May 2022), as well as the Chair of Cornish Lithium Plc (since April 2022) and a Non-Executive Director of I-Pulse Inc (since September 2010), two privately held companies which are focused on sustainable technology in the metals sector and supporting the transition to net zero.

Ian was formerly the Chair of UK listed companies, BlackRock World Mining Trust plc and gold miner, Polymetal International plc, as well as Lead Independent Director of Ivanhoe Mines Ltd, and Non-executive Director of Orica Limited. Ian has also held several senior executive positions at Anglo American Corporation and was the Chief Executive Officer at Gold Fields Ltd from 2002 to 2008.

Ian is a keen conservationist and is a founding board member of an African wildlife charity The Leadership for Conservation in Africa

Leo Howden, Descycle Managing Director commented:

“We are delighted to welcome all our new Board members, who between them hold a diverse range of skills across a range of different sectors which will benefit Descycle both in the immediate and long term as we continue to grow the Company towards commerciality. We particularly welcome Ian into his role as Chairman. He brings a wealth of corporate governance experience from his current and past roles in global businesses, many of whom are household names. His acute understanding of the metals industry, interest in sustainability and experience in scaling technology businesses will be of huge value to Descycle. We look forward to Ian’s contributions and working with him.”

Commenting on his appointment, Ian Cockerill, Chairman of Descycle said:

I am very excited to be taking on the role of Chair at Descycle. The potential applications for DES in the metals industry are very significant and wide ranging. Reducing the environmental impact of metals recovery is of paramount importance as we transition to net zero and Descycle can help lead the charge on this. The Company’s sustainability ambitions align with my own and I am looking forward to supporting the management team to commercialise what is an incredibly disruptive and exciting technology.

Further Appointments:

Chris Smith, CEO and founder of TSP Ventures, an early-stage impact fund focused on climate change and a shareholder in Descycle, has been appointed a Non-Executive Director.

Chris is an experienced finance, M&A and strategy professional, having held senior positions in a range of companies including Managing Director of Emerging Markets derivatives, at Cantor Fitzgerald in New York and Executive Managing Director, Global Head of Strategy and Corporate Development at BGC partners. Prior to his business career, Chris was an officer in the British army, the Duke of Wellingtons regiment, and served in Northern Ireland, Borneo, Belize and Gibraltar.

Dr Rob Harris, Chief Technology Officer of Descycle, and Fred White, Chief Operating Officer of Descycle, have also been appointed to the Board. The Board appointments strengthen and support Descycle’s ongoing commercialisation efforts for its novel chemistry, Deep Eutectic Solvents (“DES”), within the metals industry.

DES has the capability to replace current carbon-intensive metals recovery methods, with a process that is low-carbon, organic and can be integrated cost effectively into existing operations. Descycle is currently running a bench-scale pilot program at The Centre for Process Innovation (“CPI”) that will provide technical data to support the design of a large-scale pilot plant, which will be constructed during 2024.