RecycLiCo Battery Materials Inc signs Memorandum of Understanding with Korean electronics manufacturer Sonid Inc

RecycLiCo Battery Materials (TSX-V:AMY, OTCQB:AMYZF) Inc said it has signed a Memorandum of Understanding (MOU) with Korean electronics manufacturer, Sonid Inc, setting the stage for a potential commercial joint venture or technology licensing arrangement.

The MOU outlines the strategic partnership and business framework for establishing a lithium-ion battery recycling facility. Both companies will leverage their strengths and engage in plans regarding the commercial collection, pre-treatment, and hydrometallurgical processing of end-of-life batteries.

“The signing of this MOU marks the beginning of a potential partnership that could bring the RecycLiCo technology to commercial scale,” Zarko Meseldzija, CEO and director of RecycLiCo Battery Materials said in a statement. “By coupling RecycLiCo’s innovative recycling-upcycling technology with Sonid’s commercial expertise, we are laying the foundation for a sustainable and efficient lithium-ion battery supply chain.” 

READ: RecycLiCo Battery Materials says it has made ‘significant strides’ as it reviews 2022 highlights

“RecycLiCo is a company with excellent lithium-ion battery recycling technology,” added Choi Si-Myung, CEO of Sonid which is a Korea-based, listed company principally engaged in the manufacture and sale of electronic materials.

“We are excited to work with them to bring this technology to the Korean market through a commercial joint venture or technology licensing arrangement. This partnership will allow us to increase the efficiency and sustainability of our operations, and we look forward to working with RecycLiCo to establish a lithium-ion battery recycling facility,” he added.

RecycLiCo Battery Material 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

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