SURREY, British Columbia, Oct. 05, 2023 (GLOBE NEWSWIRE) -- RecycLiCo Battery Materials Inc. ("RecycLiCo" or the "Company") (TSX.V: AMY; OTCQB: AMYZF; FSE: ID4), a global leader in sustainable lithium-ion battery recycling technology, is pleased to announce that the Australian Patent Office and Japanese Patent Office have issued patent No. 2020237451, and No. 7341598 for the RecycLiCo's lithium-ion battery recycling process. The two patents issued bring RecycLiCo's patent portfolio to ten granted patents and an additional six applications for battery recycling around the globe. This is RecycLiCo's second patent granted in both regions.
Securing patents for our innovative technology on a global scale is pivotal to fortifying our commercial business model and facilitating the widespread deployment of our RecycLiCo solution. These patents not only provide legal protection for our intellectual property but also create a formidable moat of knowledge and expertise in our field. This strategic emphasis on intellectual property and technological know-how ensures that we maintain a competitive advantage, fostering sustained growth and allowing us to stay at the forefront of our industry as we commercialize our process.
The granted patent encompasses the following enhanced developments to the Company's RecycLiCo process:
- Separation of graphite and carbon from ground battery concentrates - Ground battery concentrates, or black mass as it is known in the industry, is a waste product generated through the mechanical shredding of end-of-life batteries. Within black mass lie precious metals including cobalt, nickel, lithium, and manganese. In terms of volume, Fastmarkets predicts that the black mass market will experience growth from 468,000 tons in 2023 to 753,000 tons by 2025. This underscores the vital need for the RecycLiCo process to handle both battery production scrap and black mass material.
- Treatment of fluoride originating from electrolyte solution - The electrolyte is a highly toxic and hazardous lithium-ion battery material found in some black mass materials. If not treated, it could lead to complications in downstream recycling functions and environmental damage.
- Separation of aluminum from cathode active material - It is estimated by Benchmark Minerals that by 2025, 78% recyclable material feedstock will come from production scrap generated from the manufacturing of lithium-ion batteries. Lithium-ion battery manufacturing includes coating cathode active material containing lithium, nickel, manganese, and cobalt to an aluminum foil to form the cathode electrode. This manufacturing process can result in off-spec cathodes that are scrapped as waste, which the RecycLiCo process can treat to produce high-quality cathode materials for battery re-manufacturing.
"We are pleased to add these patents to our portfolio as we continue to build on commercial partnerships that use our novel process," said Zarko Meseldzija, CEO of RecycLiCo Battery Materials.
RecycLiCo will be holding its annual and special meeting of shareholders on October 31, 2023 at 11:00am. The meeting will be held in the office at 17942 55th Avenue, Unit #2, Surrey, BC, V3S 6C8 Canada. All shareholders are invited to attend.
About RecycLiCo
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.
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.
