RecycLiCo Battery Materials (“AMY” or the “Company”) is pleased to announce it is receiving advisory services and funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support a pilot project, entitled, ‘Demonstration of Continuous Recycling of Cathode Material from Lithium-ion Battery Production Scrap’. This funding is delivered through NRC IRAP’s Fast Pilot in Foreign Markets program, designed to help innovative Canadian small and medium-sized businesses overcome barriers to global market entry and facilitate direct adoption of technology in foreign markets.
In collaboration with Italvolt, RecycLiCo Battery Materials will model, commission, and test a lithium-ion battery cathode material recycling demonstration plant to include continuous operation with specific cathode waste processing objectives, such as capacity, extraction efficiency, and material purity.
Italvolt plans to build one of Europe’s largest lithium-ion battery Gigafactory in Scarmagno, Italy. In March of this year, AMY signed a Memorandum of Understanding with Italvolt to collaborate on developing a commercial recycling plant using the Company’s patented RecycLiCo™ technology, alongside Italvolt’s Gigafactory.
“The collaboration with RecycLiCo Battery Materials is about to significantly accelerate our goals to become fully sustainable battery manufacturer,” said Lars Carlstrom, Founder and CEO of Italvolt. “We are very impressed with the innovation and skills the collaboration can add to Italvolt, the circular economy is no longer just a vision it’s about to become a reality, AMY will set new standards for the industry and we at Italvolt are very proud to be a part of this project”.
“Lithium-ion battery waste is a global concern, and we are thankful for the FPFM program and the opportunity to collaborate with Italvolt and validate our RecycLiCo™ process to the global market,” said Larry Reaugh, President and CEO of RecycLiCo Battery Materials, “We are extremely pleased with the support from NRC IRAP.”
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 RecycLiCo™ patented process was developed to offer a closed-loop and environmentally friendly solution for the recycling of cathode materials used in lithium-ion batteries. The recycling process provides high extraction and purity of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum. The RecycLiCo™ patented process was designed with the goal to produce recycled battery products that could be seamlessly and directly integrated into the re-manufacturing of battery cathodes using minimal processing steps.
On behalf of Management
RecycLiCo Battery Materials
Larry W. Reaugh
President and Chief Executive Officer
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