SURREY, British Columbia, July 08, 2024 (GLOBE NEWSWIRE) -- RecycLiCo Battery Materials Inc. (“RecycLiCo” or the “Company”), (TSX.V: AMY | OTCQB: AMYZF| FSE: ID4) a pioneer in the field of sustainable lithium-ion battery recycling technology, is pleased to announce that RecycLiCo Zenith Battery Materials Technology Co., the Company’s joint venture with Zenith Chemical, has constructed a Stage 1 shredding facility at the site of its battery recycling plant in Taiwan and is now processing off-spec battery materials purchased from an established global battery manufacturer and selling the resulting black powder. The Joint Venture made its first shipment of black powder in late June and has already made arrangements for future shipments.
Construction of the Joint Venture’s Stage 2 recycling plant, which will process both black powder and the black mass resulting from the shredding of end-of-life batteries, is expected to begin later this year. Project planning for the Stage 2 plant is in the advanced stages and Zenith Chemical is expected to commence site preparation shortly. As previously announced, RecycLiCo will be supervising the construction in Vancouver of an expandable modular facility (initially 2,000 mt/year), which will be transported to, and commissioned in, Taiwan. Commissioning of the plant is anticipated in 2025.
The advanced battery recycling technology employed by the joint venture will be capable of processing black mass and black powder into high-value products, such as battery-grade lithium chemicals and precursor cathode active material (pCAM), positioning the joint venture at the forefront of advanced battery recycling solutions and as a contributor to the global efforts to develop sustainable energy sources.
Richard Sadowsky, Interim Chief Executive Officer of the Company, said, “This is the first step in RecycLiCo’s transition from a venture stage company into a revenue-generating global industrial enterprise. The entire RecycLiCo team is committed to this transition and the Board of Directors expects to take additional steps in that direction over the next few months.”
RecycLiCo Battery Materials Inc. is a battery materials company specializing in sustainable lithium-ion battery recycling and materials production. RecycLiCo has developed advanced technologies that efficiently recover battery-grade materials from lithium-ion batteries, addressing the global demand for environmentally friendly solutions in energy storage. With minimal processing steps and up to 99% extraction of lithium, cobalt, nickel, and manganese, the patented, closed-loop hydrometallurgical process turns lithium-ion battery waste into battery-grade cathode precursor, lithium hydroxide, and lithium carbonate for direct integration into the re- manufacturing of new lithium-ion batteries.
Zenith Chemical Corporation, a Taiwanese company, specializes in the production of nickel-based chemicals, including high-purity nickel sulfate for lithium-ion batteries. With a strong focus on serving the lithium-ion battery industry, Zenith’s products have gained recognition and qualification from major cathode producers worldwide. The company also has a shareholding partnership with Hanwa Co., Ltd, a large publicly traded Japanese distribution company known for its expertise in lithium-ion battery-related materials. Additionally, Zenith collaborates, through a joint venture, with Central Glass Co., Ltd., a leading Japanese publicly traded company specializing in fluorine-based chemicals and cater to the semiconductor and lithium-ion battery markets.
For more information, please contact:
Teresa Piorun
Senior Corporate Secretary
Telephone: 778-574-4444
Email: InvestorServices@RecycLiCo.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward–looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
