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RecycLiCo Battery Materials has announced that its joint venture with Zenith Chemical, named RecycLiCo Zenith Battery Materials Technology, has begun production and sales of black powder at its new Stage 1 shredding facility in Taiwan. The first shipment was made in late June, with future shipments planned. The joint venture will also begin constructing a Stage 2 recycling plant later this year to process black powder and black mass from end-of-life batteries. RecycLiCo will supervise the construction of a modular facility in Vancouver for transport to Taiwan, expected to be commissioned in 2025. This venture aims to produce high-value battery-grade lithium chemicals and precursor cathode active material (pCAM), positioning RecycLiCo at the forefront of sustainable energy solutions.
Positive
- RecycLiCo’s joint venture has started production and sales, marking a transition to a revenue-generating phase.
- The first shipment of black powder has been successfully completed in June.
- Plans for the Stage 2 recycling plant are in advanced stages, with construction expected to start later this year.
- RecycLiCo will supervise the construction of a modular facility in Vancouver, anticipated to be commissioned in 2025.
Negative
- There is a delay in the commissioning of the new plant, now expected in 2025.
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.
FAQ
What recent production development did RecycLiCo announce?
RecycLiCo announced that its joint venture with Zenith Chemical has commenced production and sales of black powder at its new Stage 1 shredding facility in Taiwan.
When did RecycLiCo’s joint venture make its first shipment of black powder?
The joint venture made its first shipment of black powder in late June 2024.
What is the stock symbol for RecycLiCo Battery Materials?
The stock symbol for RecycLiCo Battery Materials is AMYZF.
What are the future plans for RecycLiCo’s joint venture?
The joint venture plans to start construction of a Stage 2 recycling plant later this year and commission a modular facility in 2025.
What high-value products will RecycLiCo’s advanced recycling technology produce?
RecycLiCo’s technology will process black mass and black powder into battery-grade lithium chemicals and precursor cathode active material (pCAM).
