Materials Arrive at AMY’s Pilot Plant; CEO: CMI Project is “on time and on track”
Following AMY’s March 28, 2019 press release regarding its partnership with the U.S. Department of Energy (DOE) on a multi-year project that focuses on creating a circular economy for lithium-ion batteries, RecycLiCo Battery Materials (“AMY” or the “Company”) is pleased to receive the transfer of cathode and anode materials from successfully disassembled electric vehicle battery packs by Critical Materials Institute (CMI) Team Members. The material is to be treated with AMY’s RecycLiCo Patented Process. Findings will be reported to project Team Members.
“We’re pleased with the progression of project milestones and are honored to be working with world-renowned national labs and leading U.S. universities,” said Larry Reaugh, CEO of RecycLiCo Battery Materials. Commenting on the delivery of the disassembled battery pack materials to AMY’s pilot plant facility, Mr. Reaugh added that “the project is on time and on track”. RecycLiCo Battery Materials is focusing on the recovery of lithium, cobalt, manganese and nickel, all of which are experiencing rapidly rising demand as the transition to electric vehicles accelerates.
The CMI project, formally titled “Lithium Ion Battery Disassembly, Remanufacturing, and Lithium & Cobalt Recovery Project,” focuses on research, development and demonstration of novel methods that maximize value recovery from lithium-ion battery stacks, modules and cells by reuse, remanufacturing, and materials recovery.
The project is under the aegis of the Critical Materials Institute, an Energy Innovation Hub, led by Ames Laboratory and supported by the U.S. Department of Energy, Office of Energy Efficiency and Renewable Energy, Advanced Manufacturing Office.
AMY’s CMI partners include U.S. national labs:
Oak Ridge National Laboratory (ORNL) Located in Oak Ridge, Tennessee, ORNL is the largest multidisciplinary science and energy national laboratory in the DOE system.
Idaho National Lab (INL) Located in Idaho Falls, Idaho, the nation’s leading center for nuclear energy research and development performs work in energy systems, national security, science and environment.
Purdue University is also a project partner.
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.