99.5% Extraction Achieved with Batch Operation

RecycLiCo Battery Materials (“AMY” or the “Company”) is pleased to report that the Company’s contract research lab, Kemetco Research, has achieved 92% extraction of lithium, nickel, and cobalt from NCA cathode scrap material. The extraction rate was achieved with continuous operation of the RecycLiCo™ leach stage. The pilot plant tests, by batch operation, demonstrated 99.5% extraction which the Company views as a benchmark to achieve with continuous operation. RecycLiCo Battery Materials and Kemetco Research also intend to test the extraction of NMC cathode scrap at continuous operation.

The pilot plant extraction results follow the Company’s successful optimization tests that resulted in a 356% increase in the pilot plant’s pre-leach process capacity to 292kg/day of lithium-ion battery cathode material. In addition to the high extraction and purity achieved by the pilot plant project, the Company’s next milestone is to produce recycled products from the cathode scrap material that meet the specific particle shape, size, and density required by the cathode and battery manufacturers.

“We are focused on our business strategy of recycling cathode scrap from the battery manufacturing process and directly and seamlessly integrating our recycled product into the battery manufacturing process. This would avoid the need to sell our recycled product further upstream within the battery material supply chain,” said Larry Reaugh, President and CEO of RecycLiCo Battery Materials. “Therefore, our continued optimization tests are critical in achieving the material specifications required by tier-one battery manufacturers.”

Test data is incorporated into the detailed engineering and development of the commercial plant and shared with companies conducting due diligence under non-disclosure agreements.

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 critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at high purity, with minimal processing steps. RecycLiCo Battery Materials aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from spent lithium-ion batteries.

On behalf of Management

RecycLiCo Battery Materials

Larry W. Reaugh
President and Chief Executive Officer

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