Larry W. Reaugh, President and Chief Executive Officer of RecycLiCo Battery Materials, (TSX.V: AMY; OTCQB: AMYZF; FSE: ID4) (“AMI” or the “Company”) is pleased to report the Company has achieved the following three milestones:
- The bench scale research program initiated in 2016 to develop intellectual property for recycling lithium-ion battery cathode material has been successfully completed by Kemetco Research.
- Utilizing the flowsheets developed, 100% lithium recovery has been achieved with bench scale testing of the process. (This achievement is in addition to the previously announced 100% recoveries of cobalt, nickel and manganese from LCO, NMC, NCA and LMO cathode chemistries using the Company’s proprietary technology.)
- The Company has filed its Non-Provisional Patent Application for recycling lithium-ion battery cathode material with the United States Patent Office on November 7, 2017.
With the filing of the US Patent application, the Company continues to add to its intellectual property portfolio. The aim is to develop a comprehensive set of patents that will enable the Company to exclusively capitalize on its innovative hydrometallurgical technologies.
Lithium-ion battery production continues to be a high growth industry. Fueled by the adaptation of electric vehicles, lithium-ion battery production is expected to grow from 90 GWh in 2016 to 300 GWh in 2025 (source: AVICENNE Energy, 2017 ICBR Conference). AMI sees the recycling of cathode materials as a significant opportunity for the following reasons:
- Cathode materials comprise approximately 25% of the value of lithium-ion battery packs.
- There is increasing demand for cathode raw materials with inelastic supply (namely cobalt) and other raw materials such as lithium, nickel, manganese and aluminum.
- Environmental regulation, as well as voluntary environmental stewardship by socially conscious companies, is expected to create demand for the recycling of raw materials in the production of lithium-ion batteries.
In the next phases of work, AMI will be conducting further work on technical opportunities that have been identified during the research program. The goal is to expand and strengthen its intellectual property portfolio and expand market opportunities. The Company also intends to initiate a pilot plant study. Kemetco Research will provide budgets for these activities within two weeks.
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 is able to 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 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 (Please see the Company’s January 27, 2017 press release for further details).
The company has updated their PowerPoint which can be viewed here.
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.