RecycLiCo Battery Materials (“AMY” or the “Company“), a pioneer in advanced lithium-ion battery cathode upcycling, and its independent R&D contractor Kemetco Research Inc. (“Kemetco”), are pleased to provide an update on the RecycLiCo™ demonstration plant project and the Company’s strategy towards commercialization.
The RecycLiCo™ demonstration plant planning and preparation began in March 2021 following the $2.7 million contract signed between RecycLiCo Battery Materials and Kemetco Research. Development work to date includes process flow sheet design, mass balance modelling, and equipment orders to match the planned 500 kg/day processing capacity of lithium-ion battery cathode waste. The Company anticipates the arrival of purchased major equipment throughout the remainder of 2021, including demonstration plant construction.
3D Rendering of the RecycLiCo™ Demonstration Plant
Located in Greater Vancouver, Canada, the fully integrated and continuous RecycLiCo™ demonstration plant has been designed to simulate real-world operating conditions. One of the critical evaluation activities required to strengthen investment in RecycLiCo Battery Materials’s future commercial recycling plans with potential strategic partners.
“With multiple patents, technical publications, and rigorous testing, RecycLiCo Battery Materials sets itself apart with its methodical approach in developing RecycLiCo™ as an advanced lithium-ion battery cathode upcycling process, and it gives me confidence in future scale-up efforts,” commented Larry Reaugh, President and CEO of RecycLiCo Battery Materials. “The demonstration plant provides a tool for licensing or joint developing our RecycLiCo™ patented process with potential industry leaders.”
Most of the existing commercial recycling facilities treat end-of-life batteries using rudimentary methods, producing low-value products without further processing. Fortunately, the current global inventory of end-of-life batteries is in its infancy. The RecycLiCo™ demonstration plant plans to support the knowledge gap in developing commercial hydrometallurgical recycling facilities that recover high-quality, value-added battery materials.
“RecycLiCo Battery Materials’s successful $20 million private placement came at an opportune time, given the current market conditions, and it puts the Company in a favourable position toward its road to commercialization. As part of the private placement, officers and directors of RecycLiCo Battery Materials have agreed to a 90-day share lock-up period,” added Larry Reaugh.
About RecycLiCo Battery Materials
RecycLiCo Battery Materials is a critical minerals company focused on the upcycling of lithium-ion battery waste into high-value battery cathode materials, using its closed-loop RecycLiCo™ Patented Process. With minimal processing steps and up to 99% extraction of lithium, cobalt, nickel, and manganese, the upcycling process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-ion batteries.
RecycLiCo Battery Materials’s original patented manganese process is the cornerstone technology in the development of the Company’s lithium-ion battery cathode recycling process, RecycLiCo™.
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.