Proposed Business Relationship offers a Patented Recycling Solution for End-of-Life Lithium-Ion Batteries
Post-Consumer Recycling Opportunity Complements AMY’s Pre-Consumer Scrap Recycling Facility
RecycLiCo Battery Materials (“AMY” or the “Company”) is pleased to report the signing of a Memorandum of Understanding (MOU) with Voltabox of Texas Inc. (“Voltabox”) a subsidiary of Voltabox AG, outlining a proposed business relationship between RecycLiCo Battery Materials and Voltabox to provide end-of-life lithium-ion batteries for commercial-scale recycling of cathode materials using AMY’s RecycLiCo™ patented process.
Voltabox is a system provider for e-mobility in industrial applications using custom configurations of lithium-ion battery technology. With the recycled lithium batteries market projected to hit $6 billion by 2030, we believe RecycLiCo Battery Materials is well-positioned to provide significant environmental and economic solutions to a variety of end-users. The RecycLiCo™ process provides a closed-loop recycling solution, with high recovery and purity potential of valuable battery materials such as lithium, nickel, manganese, cobalt, and aluminum. AMY’s RecycLiCo™ process is an alternative to the current method of disposing end-of-life lithium-ion batteries via high-heat smelters that reduce the whole battery system to a black slag with little potential for complete material recovery.
“Voltabox is focused on managing the total lifecycle of our lithium-ion programs from initial manufacturing through second-use applications and eventually to end of life. A key part of this approach is the responsible disposal of spent battery cells, modules, and systems. We look forward to working with RecycLiCo Battery Materials to ensure the proper recycling of our lithium-ion components that have reached the end of their service life,” said Sam Olson, CEO of Voltabox of Texas.
“RecycLiCo Battery Materials is proud to be recognized as an advanced battery recycling solution by a pioneer in sustainable mobility and we can appreciate their concern to find the best recycling solution for their end-of-life battery system,” said Larry Reaugh, President and CEO of RecycLiCo Battery Materials. “Currently, legislation in North America does not demand a transparent and sustainable battery metal supply chain, so the duty to establish a recycling framework is on environmentally responsible companies like RecycLiCo Battery Materials and Voltabox.”
In addition, RecycLiCo Battery Materials maintains focus on the development of its first 3 tonnes per day commercial demonstration recycling facility for cathode scrap material originating from lithium-ion battery manufacturing waste. The Company recognizes the immediate value of recycling cathode scrap (pre-consumer) but remains aware of future recycling opportunities for end-of-life batteries (post-consumer).
Voltabox is a system provider for e-mobility in industrial applications. With its safe and economical lithium-ion battery systems, the company is a pioneer in sustainable mobility.
Voltabox’s battery technology satisfies the most diverse uses while fulfilling the highest demands for quality and safety. Therefore, Voltabox has developed module kit solutions that can be configured into high-performance battery systems for customized applications.
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.