Posted on 15 Jun 2023
RecycLICo Battery Materials says it has entered a 50:50 joint venture with Taiwan chemical company Zenith Chemical to build a lithium-ion battery recycling plant in Taiwan, Kallanish reports.
The initial plant will cost about $25 million, covering a production capacity of 2,000 tonnes/year. It will process and convert lithium-ion battery waste into valuable resources such as lithium-ion battery precursor cathode active material, lithium hydroxide monohydrate and lithium carbonate, the British Columbia-based company says.
The joint venture will bring RecycLiCo’s proprietary technology to a full-scale commercial operation for the first time. The companies did not indicate when the plant would come online.
The parties have agreed to build their first commercial-scale battery recycling facility and to contribute 50% of the required capital in three initial stages. Zenith’s contribution will be in cash and RecycLiCo will receive a 10% interest in the joint venture company in return for a licence of its technology with the 40% balance in cash.
RecycLiCo will receive a royalty on net product sales and Zenith will receive 4m shares and 6m share purchase warrants. The JV must be approved by regulatory agencies.
“This partnership signifies a crucial step forward in our business plan and represents an exciting opportunity for the battery recycling landscape,” says Zarko Meseldzija, ceo of RecycLiCo.
His company has been testing the technology in a demonstration plant in British Columbia. The firm, formerly known as American Manganese, says its process can recycle 99% of the lithium, nickel, cobalt and manganese in lithium-ion waste and scraps and upcycle them into high-value cathode precursors and lithium compounds.
Source:Kallanish
