Bloomberg: “…the lithium supply chain is far from green”
RecycLiCo Battery Materials (the “Company”), is pleased to highlight the Company’s advanced battery recycling and upcycling process’s potential ability to produce less carbon-dioxide (“CO2”) equivalent emissions than traditional extraction methods (i.e. mining and refining), when producing lithium hydroxide monohydrate (“LHM”). The findings were reported in the life cycle assessment (“LCA”) completed by Minviro Ltd. (“Minviro”), a UK-based and globally recognized sustainability and life cycle assessment consultancy.
Minviro estimates that for every kilogram of LHM being produced, the RecycLiCo process would potentially release 3.3 kg of CO2 equivalent emissions whereas traditional mining and refining would release an estimated 12.7 kg of CO2 emissions, based on industry averages. This means that on average, for every 100,000 new electric vehicle battery packs produced using LHM from the RecycLiCo process, potentially 40,570 tonnes (roughly the weight of 300 blue whales) of CO2 equivalent emissions may be avoided. 1
1 Calculations are made by the Company which assumed an NMC-811 cathode chemistry and a 64-kWh electric vehicle battery pack based on data found at: https://ev-database.org/cheatsheet/useable-battery-capacity-electric-car
According to Bloomberg New Energy Finance (“BNEF”), the EV battery boom has catapulted lithium prices to record levels and the world is going to need five times more lithium by the end of the decade, “…but the lithium supply chain is far from green”. To meet this demand, BNEF estimates that the lithium industry needs as much as $42 billion in new investment.
The LCA report, first reported in July 2022, was an in-depth study on the RecycLiCo’s lithium-ion battery waste recycling and upcycling process, assessing the Company’s process against competing hydrometallurgical recycling methods and the industry average for primary extraction. The LCA considered all material and energy inputs such as scope 1, 2, and 3 CO2 emissions and was conducted in accordance with ISO-14040:2006 and ISO-14044:2006 standards, including a critical review of the LCA by independent experts.
“More investors are looking to support organizations that promote sustainability and comply with emerging climate change regulations,” said Zarko Meseldzija, CTO of RecycLiCo Battery Materials. “To make these key decisions, ESG impacts have become an increasingly important part of the investment process, and those investors who value a company’s assets based on ESG factors, can take comfort in LCA results completed by a professional and independent LCA consultancy under ISO-standards.”
About RecycLiCo Battery Materials
RecycLiCo Battery Materials is a company focused on recycling and upcycling lithium-ion battery waste. With minimal processing steps and up to 100% extraction of lithium, cobalt, nickel, and manganese, the patented, closed-loop hydrometallurgical process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-ion batteries.
Minviro is a London-based and globally recognized consultancy and technology company specializing in carrying out life cycle assessments in the technology metal space. The company provides quantitative environmental and climate impact data for mineral resource projects, battery manufacturers and OEMs to make environmentally informed decisions (www.minviro.com).
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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.