RecycLiCo Battery Materials (TSX-V:AMY, OTCQB:AMYZF) Inc, formerly American Manganese Inc., and its R&D partner Kemetco Research Inc have updated on the progress at the RecycLiCo hydrometallurgical demonstration plant.
Since commissioning earlier this year, the plant in Vancouver has a verified 163% increase in actual leach processing capacity over the 500 kg/day planned capacity and 99% leach extraction efficiency of lithium-ion battery cathode waste material using the company’s patented closed-loop process, RecycLiCo said.
The company has since achieved similar success in recent impurity removal and co-precipitation stages of ongoing testing and the plant has now advanced to the next stage of the RecycLiCo patented process to demonstrate lithium recovery at demo-scale.
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“The build-out and diligent testing of our demo-scale operation has kept pace with the battery recycling market’s demands and enabled us to de-risk our future commercial expansion efforts,” Zarko Meseldzija, CEO and director of RecycLiCo said in a statement. “This has put us in a favorable position to adapt with the market, collaborate with potential partners in developing next-generation recycling and upcycling solutions that serve a broader market, and to potentially secure long-term partnerships.”
To serve a broader market and meet the needs of multiple potential partners, the company will continue testing at the plant with feedstock materials such as different cathode production scrap and black mass.
At the same time, it will expand its offering of next-generation, battery-ready cathode precursor and lithium products to supplement RecycLiCo’s current lineup of unique products, which continue to be shipped to potential partners for advanced product qualification and assembly in battery cells.
The company also said it has granted an aggregate of 2,700,000 stock options to certain directors, officers, and employees in accordance with its stock option plan. The stock options have an exercise price of $0.39 per share and an expiry date of November 8, 2027.
RecycLiCo Battery Materials (TSX-V:AMY, OTCQB:AMYZF) Inc, formerly American Manganese Inc., is a battery materials company focused on recycling and upcycling lithium-ion battery waste. With minimal processing steps and up to 100% extraction of lithium, cobalt, nickel, and manganese, the patented, closed-loop hydrometallurgical process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-ion batteries.
Contact the author at jon.hopkins@proactiveinvestors.com