China Becomes the 5th Country in AMY’s Recycling Patent Portfolio
RecycLiCo Battery Materials (“AMY” or the “Company“), a pioneer in advanced lithium-ion battery cathode recycling-upcycling, is pleased to report that the Chinese Patent Office has issued the Company a Notice of Allowance with respect to AMY’s National Phase Patent Application for its lithium-ion battery recycling technology, RecycLiCo™. The Notice of Allowance is a formal notification indicating that the examination of the invention has been completed by the Chinese Patent Office and is allowed for issuance as a patent. The Company’s patent attorney will complete documentation and submit fees for formal issuance of the Chinese patent.
“China is the largest market for electric vehicles, with an adoption rate that leads the global markets today. They have a mature lithium-ion battery industry with great innovators and some of the world’s largest battery manufacturers. Therefore, we are proud to have our lithium-ion battery recycling process recognized as a novel invention by the Chinese Patent Office. The battery recycling industry needs advanced, practical, and efficient battery recycling technology, and securing patents for our novel process is a critical step for AMY to expand its global presence as innovative leaders,” said Larry Reaugh, President and CEO of RecycLiCo Battery Materials. “I’d also like to take this opportunity to wish all those celebrating a happy, healthy, and prosperous Year of the Tiger – Happy Chinese New Year!”
When issued formally, the Chinese patent will join AMY’s strong portfolio of issued patents in the United States (U.S. Patent No. 10246343 and U.S. Patent No. 10308523), South Korea (Patent No. 10-2246670), Japan (Patent No. 690606), and India (Patent No. 380826) as well as a Notice of Allowance from the Canadian Patent Office. The Company has also filed National Phase Patent Applications for Australia and the Europe Union.
Mr. Reaugh adds, “The team is currently on pace with the demonstration plant assembly, and we will continue to communicate further updates as they are received.”
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.
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.