Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“RecycLiCo Battery Materials” or “AMI” or the “Company”), (TSX.V: AMY; OTCQB: AMYZF; FSE: ID4), is pleased to report that Dr. Shailesh Upreti, an advisory board member of the Company, will lead an initiative to establish a lithium-ion battery “giga-factory” in New York. This initiative to build a research, development and production facility at the Huron Campus in Endicott, Broom County, was announced by New York Governor Andrew M. Cuomo on October 4, 2017. Governor Cuomo stated that Imperium3 New York, Inc., a consortium of businesses spearheaded by three Southern Tier companies, will invest more than $130 million and create at least 230 new jobs over the next five years. Imperium3 New York will commercialize an innovative technology for making more efficient and less expensive lithium-ion batteries while operating the state’s first giga-factory producing lithium-ion batteries, aiming to produce three gigawatts of batteries by Q4 2019 and eventually to fifteen gigawatts. (See release here)
Dr. Shailesh Upreti, President of C4V (Binghamton), will provide the core intellectual property and lead the initiative. Industry experts consider C4V’s batteries to be more efficient and less costly than other lithium-ion batteries on the market today. In 2016, C4V was recognized for its innovative battery storage technology when it was named a $500,000 winner in New York State’s first 76West Clean Energy Competition.
The Company’s board of directors, officers and other stellar members of the advisory board are all proud of Dr. Shailesh’s accomplishments and consider him to be a valued member of the AMI team that is working hard towards moving the Company’s recycling opportunities through the patents and pilot plant testing.
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 and industry leader in the recycling of spent electric vehicle lithium-ion batteries having cathode chemistries such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, and Lithium-Manganese.
To review The Most-Lucrative Niche in Cobalt Market article on AMI by Stockhouse please view here.
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.