Technology will advance the circular economy and ethical sourcing.
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 is working with Circulor Ltd. (“Circulor”) of London, England, to pilot blockchain technology in order to create a traceable and ethically sourced circular economy for electric vehicle (EV) battery metals, such as cobalt.
RecycLiCo Battery Materials CEO, Larry Reaugh says, “AMY and Circulor will be mapping the lifecycle of an EV battery and understanding the value flow through the production process and lifecycle. As well as providing a road map for AMY to source valuable lithium-ion batteries.”
The blockchain technology will create traceability of EV battery metals from the mine through their first use and then as they are recycled.
Circulor Ltd. CEO, Doug Johnson-Poensgen, said “Blockchain technology has the potential to transform complex industrial supply chains both by assuring provenance and improving efficiency. This joint project will create the first blockchain solution designed specifically for the EV circular economy”.
AMY and Circulor will engage other industrial partners involved in the EV battery lifecycle, including car manufacturers, during the pilot.
As reference to the existing supply chain’s ethical concerns for battery metals, click the following link to read the CNN article: ‘Carmakers and big tech struggle to keep batteries free from child labor’.
About Circulor Ltd.
Circulor Ltd. is a London (UK) based blockchain start-up focused on materials provenance in the Electric Vehicle supply chain.
Circulor are creating distributed applications to help supply chain participants prove provenance, improve supply chain transparency and reduce counterparty risk exposure. The data pool that will be created in a blockchain ecosystem will eventually allow participants to unlock value well beyond what is currently possible, without compromising commercial confidentiality or violating antitrust/anti-competitive regulations.
The company has been engaging with a range of supply chain participants from car manufacturers to specialists in ethical and sustainable sourcing to prove the utility of blockchain technology and ensure that its solutions can integrate with existing supply chain management solutions.
Circulor is privately held.
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 March 27, 2018 Company’s 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.