RecycLiCo™ Patented Process Produces Highest Purity Results to Date
RecycLiCo™ Continues Progress to Commercial Demonstration
RecycLiCo Battery Materials (“AMY” or the “Company”) is pleased to report on the successful recovery of high purity (99.98%) nickel-cobalt hydroxide from the NCA cathode scrap material received from the tier-one lithium-ion battery company referenced as Company B from the October 25, 2019 press release. RecycLiCo Battery Materials plans to announce Company A purity results as they are received and reviewed.
The laboratory studies were conducted by the Company’s independent contractor, Kemetco Research, to analyze the optimum recycling conditions and produce recycled material for the customer’s evaluation (see photo).
“We designed the process with the goal to produce recycled battery products that could be seamlessly integrated into the re-manufacturing of battery cathodes using minimal processing steps,” said Norm Chow, President of Kemetco Research.
After continuous improvement and optimization, RecycLiCo Battery Materials’s RecycLiCo™ patented process achieved an even higher purity than the previously reported purity results (99.94%) during stages 3 and 4 of Pilot Plant project, as announced in the Company’s August 27, 2019 press release.
“The purity results analyzed by Kemetco Research demonstrates the potential of our RecycLiCo™ patented process and sets a new benchmark for the lithium-ion battery recycling industry,” said Larry Reaugh, President and CEO of RecycLiCo Battery Materials. “We continue to pioneer a high-recovery, high-purity, and environmentally friendly cathode-to-cathode lithium-ion battery recycling solution that promotes a circular economy for the lithium-ion battery supply chain.”
The RecycLiCo™ patented process is a closed-circuit hydrometallurgical solution for recycling lithium-ion battery material. RecycLiCo Battery Materials has completed testing of the Pilot Plant project and aims to begin engineering design and economic analysis of a 3-5 tonne per day commercial demonstration plant for 2020; following the completion of testing for tier-one companies.
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 battery grade 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.