U.S. Patent Office Issues Notice of Patent Allowance
Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“RecycLiCo Battery Materials” or “AMY” or the “Company”), (TSX.V: AMY | OTC US: AMYZF | FSE: ID4), is pleased to announce that the Company has received the “Notice of Allowance” from the United States Patent and Trade Mark Office for the Company’s lithium-ion battery recycling technology.
The “Notice of Allowance” is formal notification indicating that the examination of the invention has been completed by the US Patent and Trademark Office and allowed for issuance as a patent. The Company’s attorney will be completing documentation and submitting fees for formal issuance of the US Patent. AMY CEO Larry W. Reaugh said “Allowance of this patent is a significant milestone for the Company as the invention is now secured as a key asset that can be exclusively capitalized.” The U.S. Patent examiner deemed AMY’s technology is “novel” and “inventive” as it enables the recycling of valuable cathode metals (namely cobalt, nickel, manganese, aluminum and lithium) while converting these materials back to fresh cathode materials for manufacture of new lithium-ion batteries.
“RecycLiCo Battery Materials recognized early on that significant growth in the electric vehicle market will eventually lead to supply strains in materials used to make lithium-ion batteries,” Mr. Reaugh noted, “and that effective recycling of end of life lithium-ion batteries is a key aspect of achieving a sustainable circular economy.”
According to Bloomberg New Energy Finance, forecasts show that electric vehicle sales are “increasing from a record 1.1 million worldwide in 2017, to 11 million in 2025 and then surging to 30 million in 2030” (see: Electric Vehicle Outlook). In a Bloomberg Article dated December 4, 2018, “VW (Volkswagen) plans to launch fully or partly electric versions across its lineup of more than 300 cars, vans, trucks and motorbikes by 2030” (see: VW says the next generation of combustion cars will be its last ). In a Reuters article dated December 11, 2018, “Daimler will buy battery cells worth more than 20 billion euros ($23 billion) by 2030 as it readies mass production of hybrid and electric vehicles” (see: Daimler to buy $23 billion of battery cells for electric car drive )
With extensive experience in mining processes and technologies, RecycLiCo Battery Materials contracted Kemetco Research to embark on a research program to develop technology with the goal of capitalizing on the potential supply strains of the metals used for manufacturing lithium-ion batteries, while creating an important solution to the circular economy.
The Notice of Allowance of the US Patent is a significant milestone in achieving this goal. Key aspects described in the patent application are:
- Treatment of several cathode chemistries such as lithium cobalt oxide (LCO), lithium nickel manganese cobalt oxide (NMC) and lithium nickel cobalt aluminum oxide (NCA).
- Methods for achieving 100% recoveries of cobalt, nickel, manganese, aluminum for all cathode chemistries tested.
- Method for achieving 100% lithium recovery by a novel locked cycle process.
AMY’s contractor, Kemetco Research, has been strategically focused on developing AMY’s core technology into a highly efficient recycling process, with plans to file for Continuing Patent Applications on work recently completed that complements the current technology. With the receipt of the Notice of Allowance, AMY is ahead of known competitors in terms of IP protection and positioned to lead the industry in electric vehicle battery recycling.
About Kemetco Research Inc.
Kemetco Research is a private sector integrated science, technology and innovation company. Their Contract Sciences operation provides laboratory analysis and testing, field work, bench scale studies, pilot plant investigations, consulting services, applied research and development for both industry and government. Their clients range from start-up companies developing new technologies through to large multinational corporations with proven processes.
Kemetco provides scientific expertise in the fields of Specialty Analytical Chemistry, Chemical Process and Extractive Metallurgy. Because Kemetco carries out research in many different fields, it can offer a broader range of backgrounds and expertise than most laboratories.
About RecycLiCo Battery Materials
RecycLiCo Battery Materials is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low cost production or recovery of electrolytic manganese products throughout the world, and recycling of spent electric vehicle lithium-ion rechargeable batteries.
Interest in the Company’s patented process has adjusted the focus of RecycLiCo Battery Materials toward the examination of applying its patented technology for other purposes and materials. RecycLiCo Battery Materials aims to capitalize on its patented technology and proprietary know-how to become the industry leader in recycling spent electric vehicle lithium-ion batteries and recovering 100% of the cathode metals such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, Lithium-Cobalt-Aluminum and Lithium-Manganese (Please see the Company’s July 25, 2018 Business Plan (“CBP”) for further details).
On behalf of Management
RecycLiCo Battery Materials
Larry W. Reaugh
President and Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the Toronto Stock Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.