Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“RecycLiCo Battery Materials” or “AMY” or the “Company”), (TSX.V: AMY; OTCQB: AMYZF; FSE: ID4), is pleased to announce that the Company has engaged Kemetco Research Inc. to continue with the second phase of the company’s lithium-ion battery recycling research and commercialization program.
RecycLiCo Battery Materials has sourced cathode scraps from the United States and ground active materials from a lithium-ion battery recycler in Europe. These materials will be processed for the next phase of the program.
Kemetco will assist the Company in the development of three new IP extensions as well as the engineering, design, construction, commissioning, installation and testing of the pilot plant. The total budget approved by the Company is $2,277,000 including contingencies. The entire project is expected to take 12-15 months.
According to President and CEO Larry Reaugh, “the company is in a good position to capitalize on the soaring value of the LIB battery metals on which we get 100% recycling recovery for Lithium Carbonate ($13,700/ tonne) and Cobalt ($81,000/tonne).”
Recent Articles on Cobalt:
Bloomberg | Hype Meets Reality as Electric Car Dreams Run into Metal Crunch
Bloomberg | Mines Linked to Child Labor Are Thriving in Rush for Car Batteries
About Kemetco Research Inc.
Kemetco Research is a private sector integrated science, technology and innovation company. Their Contract Sciences operation provides laboratory analysis and testing, field work, bench scale studies, pilot plant investigations, consulting services, applied research and development for both industry and government. Their clients range from start-up companies developing new technologies through to large multinational corporations with proven processes.
Kemetco provides scientific expertise in the fields of Specialty Analytical Chemistry, Chemical Process and Extractive Metallurgy. Because Kemetco carries out research in many different fields, it is able to offer a broader range of backgrounds and expertise than most laboratories.
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 and industry leader in the recycling of spent electric vehicle lithium-ion batteries having cathode chemistries such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, and Lithium-Manganese (Please see the Company’s January 27, 2017 press release for further details).
The company has updated their PowerPoint which can be viewed here.
On behalf of Management
RecycLiCo Battery Materials
Larry W. Reaugh
President and Chief Executive Officer
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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.