Recyclico Battery Materials Inc. (AMYZF)

[Animosh]

Sonide and Recyclico complete joint venture agreement "up to 100% lithium recovery plant speed"

Sonide is accelerating the establishment of an eco-friendly closed-loop hydrometallurgical recycling plant that dismantles waste batteries for the first time in Korea and recovers up to 100% of lithium, nickel, cobalt, manganese, etc.

According to Sonid on the 17th, on the 16th, Canadian waste battery recycling company Recyclico Battery Materials (Recyclico) CEO Zarco Meseldgia and two executives visited the headquarters and said, “Establishment of joint venture and commercial waste disposal.” The coordination of the 'contract containing the contents of the battery recycling plant' was completed. The two companies plan to exchange sealed copies after the executives of Recyclico return to Korea.

Recyclico recovers lithium, nickel, cobalt, cobalt, manganese, etc. by applying a closed-loop hydrometallurgical method to the black mass that dismantles waste batteries and grinds the remaining materials. The closed-loop hydrometallurgical method can reduce carbon dioxide emissions by 62% compared to conventional hydrometallurgical processes.

The company recently collaborated with its research and development (R&D) partner, Chemetco Research, to operate a pilot plant in Vancouver, Canada that can process about 200 tonnes per year, recovering up to 100% of materials such as lithium, nickel, cobalt, and manganese. proved that it can be done. In particular, the lithium carbonate produced in the pilot plant is of high quality that can be immediately used in lithium-ion battery manufacturing.

During their visit to Korea, Recyclico executives held discussions on the establishment of a joint venture with Sonide, visits to business sites and sites, and visited InterBattery 2023, the largest battery industry exhibition in Korea.

A joint venture between Sonid and Recyclico will be established to operate and manage a commercial-scale waste battery recycling plant in Korea. Domestic waste battery recycling plant EPC (design, procurement, construction), operation, and supply and distribution of recycled materials such as metals or precursors to battery or battery material manufacturers.

A company official said, "Based on the joint venture's successful portfolio, we plan to seek additional waste battery recycling business opportunities in Korea and other Asian countries."

To establish a joint venture, Sonide ?Procurement of initial capital ?Distribution of raw materials for waste batteries ?Land and licensing for battery recycling facilities ?Supply of black mass through affiliates equipped with pretreatment facilities for waste batteries ?Recycled products for domestic battery and battery raw material manufacturers Sales and financing for the first commercial battery recycling plant.

Recyclico provides technology and know-how, including licenses and technologies, related intellectual property, operational know-how, and maintenance, necessary for the initial capital raising contribution and construction and operation of a commercial battery recycling plant.

An official from Sonid said, “We expect that the establishment of a domestic joint venture with Recyclico, which aims to build and operate the first commercial battery recycling plant in Korea, will proceed smoothly in the future.” I will try to lead the way," he said.
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