- Fortune 500 global company ITOCHU to partner with FCL for the potential distribution of FCL-X in Japan and Korea
- By adding the Asian market with ITOCHU it potentially doubles FCL's addressable market for FCL-X
- FCL-X is being rapidly adopted by USA firefighters to extinguish EV, industrial, and other dangerous and toxic lithium-ion battery related fires because it is efficient, effective, non-hazardous and environmentally friendly
TORONTO, March 18, 2025 /PRNewswire/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA -based lithium-ion specialty firefighting agent manufacturer, is pleased to announce that FCL and ITOCHU Corporation ("ITOCHU") have signed a Memorandum of Understanding ("MoU") to collaborate in bringing FCL-X to Japanese and Korean markets initially.
ITOCHU is one of Japan's largest companies with an extensive portfolio which includes sales and marketing of lithium-ion battery material, production equipment, and applications such as energy storage systems (ESS) and energy management software and services. Given its battery-related business, ITOCHU approached FCL as it is acutely aware of the need to provide global and more specifically the Asian battery market with an effective, efficient, non-hazardous, and environmentally friendly fire extinguishing battery fire solution.
"FCL is extremely pleased to welcome ITOCHU as a partner to help open up the Asia market for our FCL-X portfolio of products. ITOCHU's local knowledge as well as its portfolio of LiB products and services is very important for us. Ensuring a diversification of partners and end-users locally, regionally, and globally, will allow us to quickly put this important tool in the hands of those that may need it to fight dangerous battery fires. With ITOCHU we add another partner in our rapidly expanding ecosystem towards our ambition of providing one of the world's most effective and efficient lithium-ion battery extinguishing agent in Asia," says Carlos Vicens the CEO and Founder of FCL.
The MoU provides for both FCL and ITOCHU, an exclusive time to negotiate a final binding agreement after certain customary due-diligence items are confirmed during the initial phase of the MoU. FCL may provide exclusive license and/or distribution rights for a specific term to ITOCHU to market and distribute certain forms of FCL-X and potentially establish an optimal manufacturing system of FCL-X products in the region, which may include the establishment of a jointly owned special purpose vehicle. The agreement may be expanded into additional Asian countries beyond Japan and Korea.
About ITOCHU Corporation
The history of ITOCHU Corporation dates back to 1858 when the Company's founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 150 years. With approximately 100 bases in 61 countries, ITOCHU, one of the leading sogo shosha, is engaging in domestic trading, import/export, and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investment in Japan and overseas. For more information, go to www.itochu.com.
About Full Circle Lithium Corp.
FCL has developed an innovative lithium-ion battery fire-extinguishing agent named FCL-X, to address the increasing number of difficult to extinguish and hazardous lithium-ion battery-based fires. FCL-X is a non-hazardous fire extinguishing agent specifically designed to combat lithium-ion cell and/or battery fires. It is a water-based solution that neutralizes complex chemical reactions, creating a protective layer on the surface of materials containing elemental lithium. FCL-X has been tested by 3rd party laboratories as well as on live fires on both small and industrial scale fires and has proved that it mitigates the lithium oxidation reaction, limiting hydrogen generation and stabilizing decomposing electrolytes. FCL-X is easy to use, with fast heat dissipation, minimal clean-up, and non-hazardous properties, making it a sustainable choice. FCL has gathered a leading technical team with over 100 years of combined lithium, fire and safety training and firefighting experience. Additional information regarding FCL is available on SEDAR at www.sedar.com under the Company's profile and on its website www.fullcirclelithium.com.
For further information:
Full Circle Lithium Corp.
Carlos Vicens - CEO & Director
[email protected]
+1.416.977.3832
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements within the meaning of securities legislation in the Canada and which are based on the expectations, estimates and projections of management of the parties as of the date of this news release unless otherwise stated. Forward-looking statements are generally identifiable by use of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "could", "believe", "plans", "intends" or the negative of these words or other variations on these words or comparable terminology. More particularly, and without limitation, this news release contains forward-looking statements and information concerning expectations on the effectiveness of the marketing and sales of FCL-X through distribution agreements, the viability, effectiveness, safety and additional commercialization related to FCL-X which is at an early stage of commercialization (which is very difficult for a start-up venture like FCL as there are much larger and better capitalized established companies that can potentially quickly enter the lithium-ion battery fire-fighting market and create strong competition against FCL), on receiving patent protection for FCL-X and related inventions and processes, the ability of FCL, a start-up venture, to successfully commercialize its FCL-X including ramping-up production of the agent to meet potential demand, continue raising capital, upgrading and refurbishing its plant, and sourcing feedstock for this and its other lines of business. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the uncertainties and risk factors related to the technical elements in a processing and refining business, loss of key technical and other staff, lithium price fluctuations, the battery fire-extinguishing agent functioning as expected to meet safety requirements and fire-fighting related government regulations and potential client product specifications, and applicable environmental requirements and issues - see additional risks described in FCL's public filings. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. FCL disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law. Additionally, FCL undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of FCL, its financial or operating results or its securities.
SOURCE Full Circle Lithium Inc
