Tesla Boss Elon Musk offers “Giant Contract” to Responsible Nickel Miners
RecycLiCo Battery Materials (“AMY” or the “Company”) is pleased to report that the Company’s contract research lab, Kemetco Research, has received the required specialty equipment to continue Pilot Plant optimization tests for recycling lithium-ion battery material. Following the previously reported optimization results in the June 9, 2020 press release, where Pilot Plant processing capacity was upgraded from 64 kg/day to 160 kg/day after a successful engineering upgrade.
“We believe the specialized pieces of equipment and operational improvements should further increase the recycling process capacity of the lithium-ion battery cathode material,” said Norman Chow, President of Kemetco Research.
“Given the initial and encouraging optimization results, we believe that continued testing is critical to RecycLiCo Battery Materials’s go-to market strategy and a major differentiating factor amongst competitors in the growing recycling industry,” said Larry W. Reaugh, President and CEO of RecycLiCo Battery Materials. “It is important that we go the extra mile on optimization testing, while costs are relatively low, so that we may put our best foot forward when it comes to the commercial recycling plant. We estimate that optimization results could subsequently improve commercial plant design and process capacity while lowering capital expenditures and the annual operating costs.”
It is expected that the plant should be back up and running within the first week of August 2020.
The importance of recycling lithium-ion battery material for lithium, nickel, cobalt, manganese, and aluminum comes during strategic times as the battery metals supply chain faces shortages. Tesla’s Elon Musk has even offered ‘giant contracts’ to miners able to extract nickel in an efficient and environmentally sustainable manner. AMY’s RecycLiCo™ patented process could recycle lithium-ion battery cathode materials, which includes a high percentage of nickel, such as the popular NMC-811 lithium-ion battery cathode that contains 8 parts nickel, 1 part manganese, and 1 part cobalt.
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 critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ Patented Process. The process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at high purity, with minimal processing steps. RecycLiCo Battery Materials aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from spent 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.