RecycLiCo Battery Materials (“AMY” or the “Company“) is pleased to share a year-end review of the significant company highlights that have been fundamental in strategically positioning RecycLiCo Battery Materials for the new year.
Lithium-ion Battery Cathode Recycling (RecycLiCo™) Highlights:
- Achieved successful recycling and upcycling of lithium-ion battery black mass and production scrap into NMC532, NMC622, and NMC811 cathode precursor and sent samples to third parties for product validation
- Achieved successful production of 99.99% pure lithium sulfate, from waste battery material, and sent samples to third parties for product validation
- Began modelling, design, and preparation of the RecycLiCo™ demonstration plant
- Signed Memorandum of Understanding with Italvolt SpA to develop commercial recycling plant alongside Italvolt’s planned Gigafactory in Scarmagno, Italy
- Received 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‘
- Awarded Solar Impulse Efficient Solution Label, an initiative by the Solar Impulse Foundation to select solutions that meet high standards in profitability and sustainability
- Technical battery recycling papers published in the Journal of the Electrochemical Society and International Journal of Green Energy
- Issued patents in South Korea, Japan, India and received a patent ‘notice of allowance’ in Canada
Wenden Stockpile Reclamation and Advanced Material Processing Project Highlights:
- Completed and submitted all identified milestones in the U.S. Defense Logistics Agency (DLA) awarded project to perform work on the United States Government’s manganese stockpile located near Wenden, Arizona
- Achieved 99% manganese extraction results and produced electrolytic manganese metal (EMM) from Wenden Stockpile material
- Closed brokered private placement for gross proceeds of C$20 million. The Company issued up to 20,000,000 Common Shares at a purchase price of C$1.00 per and associated Warrant at a purchase price of C$1.25
- Received approximately $6,000,000 from the exercise of issued warrants and options
“We have had an incredible year on multiple fronts and laid a strong foundation for the company to continue to grow and innovate in 2022. The RecycLiCo™ and Wenden projects have demonstrated their added value and differentiation in the market, and we have a unique opportunity to be involved in shifting trends and a growing market focused on cleantech and critical battery metals. Our financing highlights also represent an important milestone that enhances our ability to execute on our growth strategy,” said Larry Reaugh, President and CEO of RecycLiCo Battery Materials. “Thank you to our team and shareholders for a great year. Have a happy holiday season and a prosperous new year.”
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
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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.