AMY to Also File for Patent Protection on New Recycling IP
Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“RecycLiCo Battery Materials” or “AMY” or the “Company”), (TSX.V: AMY | OTC-US: AMYZF | FSE: ID4), is pleased to announce that one (1) metric tonne of cathode scraps was received from a US-based metal recycler that collects large quantities of this material monthly. AMY will begin immediate preparations to recover battery materials from this cathode scrap using its proprietary process.
The Company has also responded to the patent file examiner with all the required amendments to the patent application.
“By using our novel combination of reagents and unit operations, the Pilot Plant testing will replicate real world closed-circuit conditions and provide data for efficient scale up of a revenue-generating plant”, said Mr. Reaugh. “Given rapidly rising demand for the full suite of battery metals, the industry can simply no longer afford to lose so much valuable material to scrap. We see scrap recycling as a significant growth opportunity for AMY.”
Cathode scraps are a predictable current source of material that will be ideally suited for commercialization of the Company’s recycling technology. According to a presentation by Avicenne Energy at the ICBR conference in 2017, approximately 4% of the fully burdened cost of a lithium-ion battery is lost in materials process yields. Since approximately 52% of the value of a lithium-ion battery is associated with its materials (22% cathode, 6% anode, 6% electrolyte, 7% separator, 11% other materials), approximately 7.7% of the cathode materials in the manufacturing of new lithium-ion batteries will become scraps.
500 Kg of NMC (assayed as a 622 chemistry) and 500 Kg of NCA cathode material were received for Pilot Plant testing at Kemetco Research. The projected metal value of 500 kg of NMC622 is estimated to be $10,278 USD ($62 Al Foil, $2,103 Ni, $140 Mn, $3,315 Co, $4,658 Li2CO3). The projected metal value of 500 Kg of NCA is estimated to be $10,099 USD ($62 Al Foil, $2,830 Ni, $2,508 Co, $4,699 Li2CO3).
AMY has completed the overall flowsheet design for its pilot plant to process the scrap materials. Equipment for the materials handling portion of the operations has been selected and ordered. The flowsheet design also includes an update to the technology which greatly reduces the rinsing requirements of the base metals and results in a reduction of reagent consumption. Based on these improvements, further simplification of the flowsheet has been achieved. “The company expects to file for patent protection on this new recycling IP,” said Mr. Reaugh.
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 diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low cost production or recovery of electrolytic manganese products throughout the world, and recycling of spent electric vehicle lithium-ion rechargeable batteries.
Interest in the Company’s patented process has adjusted the focus of RecycLiCo Battery Materials toward the examination of applying its patented technology for other purposes and materials. RecycLiCo Battery Materials aims to capitalize on its patented technology and proprietary know-how to become the industry leader in recycling spent electric vehicle lithium-ion batteries and recovering 100% of the cathode metals such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, Lithium-Cobalt-Aluminum and Lithium-Manganese (Please see the Company’s July 25, 2018 Business Plan (“CBP”) for further details).
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.