Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials (“AMY” or the “Company”), (TSX.V: AMY; OTCQB: AMYZF; FSE: ID4), is pleased to announce that Kemetco Research Inc. has begun “proof of concept” testing of the Company’s proprietary hydrometallurgical process for the recycling of cathode materials, specifically lithium – cobalt, the battery chemistry currently used by Tesla for the Model S.
Mr. Norman Chow, President of Kemetco Research Inc., says: “There are approximately 400,000 vehicles on the Tesla Model 3 waiting list. Each vehicle will have a 60 kWh battery pack, so approximately 24,000,000 kWh (24 GWh) will be required to power these 400,000 vehicles.
One kilogram of lithium cobalt oxide cathode material holds 0.588 kWh. As such, about 40,816,327 kg of cathode materials will be required to meet this initial 24 GWh demand. Eventually all these batteries will reach their end of life, creating an enormous disposal problem and an incredible opportunity for AMY.”
“The opportunity here is to capitalize on not only the initial orders but also the on-going future orders using a new clean technology to treat this waste (the spent batteries) as a renewable resource. AMY’s process, once proven, will be more economical and environmentally friendly than opening new mines and treating mined ores that contain a fraction of a percent of the target minerals,” says the Company’s President and CEO, Mr. Larry Reaugh. “In addition to the on-going “proof of concept” testing, the Company is developing new technology and know-how for this application from its existing patented and proprietary intellectual property.”
About Kemetco Research Inc.
Kemetco Research Inc. is a privately owned contract research and development company specializing in extractive metallurgy, chemical processing and specialty chemical analysis. It was formed after the acquisition of the industrial process division of B.C. Research, which had been in operation for over 60 years as a research and development contractor in British Columbia.
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. Electric cars are the future, green mobility, and the recycling segment of the lithium-ion cathodes will be a key function for the Company.
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 and industry leader in the recycling of spent electric vehicle lithium-ion batteries having cathode chemistries such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, and Lithium-Manganese.
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.