Recyclico Battery Materials Inc. (AMYZF)

[Animosh]

Sonide Secures Land for Battery Regeneration Plant Business

[Seoul=Newspim] Reporter Lee Young-ki = Sonide (CEO Choi Si-myung) acquired a 50% stake (worth 8 billion won) in KSCB Networks, a chemical product manufacturer with a 36-year tradition, for the purpose of full-scale battery recycling business, and acquired a battery recycling plant ( Post-processing process) announced on the 18th that it had secured a business site.

On the 10th, Sonid signed a strategic MOU with RecycLiCo Battery Materials, which is listed on the US stock exchange, and announced its entry into the battery recycling business in earnest. Through this acquisition of a chemical product manufacturer, the company plans to secure and build a battery regeneration plant site and further materialize the contents of the business agreement between the two companies.

KSCB Networks, acquired by Sonide, is a specialized chemical company that has engaged in chemical product development, manufacturing production, processing, and export/import. In particular, it holds 11 permits and permits for human, material infrastructure and waste treatment related to the chemical field, and is expected to contribute to the promotion of the battery recycling business that Sonide is promoting.

Sonid plans to build and test-operate battery regeneration plant equipment and facilities on the site of KSCB Networks' business site located in Yangsan, Gyeongsangnam-do. The size of the business site is about 10,000 pyeong (29,400 square meters).

Recyclico, which signed a business agreement with Sonide, removes lithium, nickel, and cobalt from waste batteries through a closed-loop hydrometallurgy (hydrometallurgy) method that has been patented in Korea, the United States, Canada, Japan, India, and China. It has the technology to recover more than 99% of manganese. By shortening the extraction process of recycled materials, cost can be drastically reduced, and the amount of carbon dioxide generated in the extraction process can be reduced by more than 60% compared to the existing method.

Recyclico plans to install and operate pilot battery recycling plants around the world. Last year, it also passed a test to actually produce batteries by supplying recycled battery materials to C4V, a US battery cell manufacturer.

Choi Si-myung, CEO of Sonid, said, “Through this acquisition, it was possible to secure a site for a pilot project of a battery recycling plant. We plan to start working on it," he said.

CEO Choi added, "Securing the site for this business means that Sonide's battery recycling business has entered the next stage."

https://m.newspim.com/news/view/20230118000810