RecycLiCo™ Patented Process Produces Nickel-Cobalt Sulfate from NCA Cathode Scrap
RecycLiCo Battery Materials (“AMY” or the “Company”) is pleased to report independent analytical results from the Company’s contract lab, Kemetco Research, an integrated science, technology, and innovation company. Using RecycLiCo Battery Materials’s patented RecycLiCo™ process, Kemetco conducted recycling tests on lithium-ion battery cathode material and produced a nickel-cobalt sulfate product at 99.99% purity.
The lithium-ion battery material was received as NCA cathode scrap from a tier-one battery manufacturing company, previously announced in the Company’s February 28, 2020 press release. RecycLiCo Battery Materials will now prepare the recycled product for shipment back to the tier-one company for their testing and independent analysis. Due to COVID-19 restrictions, the Company foresees delays in shipment and testing but will report on results as they are received and reviewed.
RecycLiCo Battery Materials first reported 99.98% pure nickel-cobalt hydroxide product from recycling tests on NCA cathode scrap. The recently announced production of a nickel-cobalt sulfate is a first effort for the Company, and it continues to expand the Company’s portfolio of recycling capabilities. RecycLiCo Battery Materials is tailoring its recycling products for suitable integration into the newest generation cathodes, which are proprietary formulas developed by battery manufacturers for superior lithium-ion battery performance and cost.
“We are extremely impressed with the Kemetco team and their ability to adapt and optimize our patented RecycLiCo™ process to produce recycled sulfate material for a tier-one battery manufacturer,” said Larry Reaugh, President and CEO of RecycLiCo Battery Materials. “Sulfates were requested by more than one tier-one company that has been in discussion with RecycLiCo Battery Materials, so we are pleased with our capabilities.”
RecycLiCo Battery Materials will continue to pioneer and promote a circular economy for the lithium-ion battery supply chain. The Company believes that lower oil prices won’t stop the massive shift to electric vehicles because compliance with stricter CO2 emission levels and the admirable performance and operating cost of electric vehicles is expected to prevail in the long run.
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 can offer a broader range of backgrounds and expertise than most laboratories.
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.