RecycLiCo Battery Materials (“AMY” or the “Company”) is pleased to announce the launch of a project focused on advancing the Company’s lithium-ion cathode recycling technology (RecycLiCo™) with support from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
NRC IRAP will provide advisory services and conditional funding to support RecycLiCo Battery Materials’s research and development project on the Synthesis of Cathode Material Precursors from Recycled Battery Scrap between November 4, 2020 and March 31, 2021.
The main objective of the project is to conduct a technical feasibility study on the synthesis of cathode material precursors with specific particle parameters. RecycLiCo Battery Materials also acquired a specialized cathode precipitation reactor to achieve the Company’s objective in producing high-value final cathode products with the least amount of processing steps, as discussed in the November 6, 2020 news release.
“We are proud to receive this support from NRC IRAP and we believe this project will continue to build on the success of our pilot plant project and intellectual property,” said Larry Reaugh, President and CEO of RecycLiCo Battery Materials. “We are thrilled to kick-off this project on the production of cathode precursor materials. Our existing patents, for recycling lithium-ion cathode material, offers high extraction and purity potential and this project’s intellectual property development could continue to strategically differentiate the Company’s commercial offering.”
Cathode material used in the electric vehicles industry such as, lithium nickel manganese cobalt oxide (NMC) and lithium cobalt aluminum oxide (NCA) have strict material quality parameters. The production of these modern cathodes from raw materials is a highly specialized and energy-demanding process, but the successful production of these materials is a significant value-added step. Therefore, it is the goal of this project to enable RecycLiCo Battery Materials’s process to efficiently and directly recycle cathode scrap material into cathode material precursor to maximize the value of the recycled product.
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
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.