RecycLiCo Battery Materials Inc. provided an operational update on the RecycLiCo hydrometallurgical demonstration plant (“the Demo Plant”) in Vancouver, Canada. Since its commissioning earlier this year, the Demo Plant has verified a 163% increase in actual leach processing capacity over the 500 kg/day planned capacity and 99% leach extraction efficiency of lithium-ion battery cathode waste material using RecycLiCo's patented closed-loop process. The Company has since achieved similar success in recent impurity removal and co-precipitation stages of ongoing Demo Plant testing.

The Demo Plant has now advanced to the next stage of the RecycLiCo patented process to demonstrate lithium recovery at demo-scale. To serve a broader market and meet the needs of multiple potential partners, the Company will continue testing at the Demo Plant with feedstock materials such as different cathode production scrap and black mass. At the same time, it will be expanding its offering of next-generation, battery-ready cathode precursor and lithium products to supplement RecycLiCo's current lineup of unique products, which continue to be shipped to potential partners for advanced product qualification and assembly in battery cells.

The Demo Plant is a platform for further expansion and accelerating RecycLiCo's commercialization strategy. Therefore, in parallel with the Demo Plant's testing, an engineering study is being prepared for the design and construction of a commercial-scale plant that meets industry needs.