Partnership on Providing a Complete Closed Loop Circular Economy Solution for the Upcycling of Lithium-Ion Batteries
Commercialization Goal Set for Late 2019
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 has signed a Memorandum of Understanding (“MOU”) with Battery Safety Solutions B.V. (“BSS”) for the purpose of forming a Partnership to create and commercialize a closed-loop circular economy solution for the upcycling of lithium-ion battery cathode materials. The parties will initially focus their efforts on lithium-ion battery subtypes such as LCO, NMC, NCA, and/or LMO.
BSS, a private Dutch company, specializes in the collection, discharging, and dismantling of lithium-ion batteries and will contribute their expertise in European marketing, access to customers, collection and transportation, safe handling, electrical discharge, safe storage, sorting, and mechanical treatment to generate cobalt and manganese concentrates from waste lithium-ion batteries.
BSS has developed a unique process that completely discharges a lithium-ion battery in a fraction of the time needed by conventional methods, and then stores 100% of the discharged energy. Once the battery is discharged, BSS can safely disassemble and sort lithium-ion battery components. Meetings were conducted at Kemetco Labs, where due diligence of the BSS technology was completed.
AMY received samples of disassembled batteries from BSS which, after several weeks of bench scale testing, yielded positive results using AMY’s patent-pending process. AMY will continue to receive disassembled battery components from BSS to develop and optimize the process for conversion into a high-value final product at very high recycling efficiencies. AMY will contribute intellectual property and expertise on the scientific aspects, engineering aspects, and plant design.
“We received and analyzed several samples of disassembled battery materials from around the globe and believe that the BSS process is the most advanced and unique process available”, said Mr. Reaugh. “This strategic partnership will bring together the unique industry-leading expertise and capabilities of each Party to develop, optimize, and commercialize the best complete solution for customers, with our goal to be commercially ready by late 2019. It should be noted that BSS technology is not required for the processing of cathode scrap material.”
About Battery Safety Solutions B.V.
Battery Safety Solutions provides the best solution with the highest possible recycling percentage for all batteries and a vast network of partners and suppliers. With a combined 65 years of knowledge and experience – BSS specializes in the collecting, storing, discharging, and dismantling lithium-ion batteries in Europe.
For more information please visit www.batterysafetysolutions.com
About RecycLiCo Battery Materials is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low-cost production and 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 application of 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 July 25, 2018 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.