RecycLiCo Battery Materials Inc. provided an update on its commercial joint venture in Taiwan with Zenith Chemical Corporation. RecycLiCo and Zenith have signed an amended and restated joint venture agreement in order to expedite the set-up of the joint venture. Under the Amended Agreement, the parties will make cash contributions to the joint venture vehicle in accordance with a revised schedule which will facilitate approval by the Taiwanese regulatory authorities.

The Amended Agreement will not alter the economic substance of the original agreement as all other terms will remain the same, including the 50/50 ownership of the joint venture by the parties. RecycLiCo?s management has recently visited the site of the future plant in Taiwan, in addition to holding extensive discussions with Zenith on the technical and business aspects of the plant?s design and construction. Moreover, the parties have identified several battery market opportunities and collaborators that promote the completion of the plant.

The commercial plant, once completed, will utilize RecycLiCo?s advanced hydrometallurgical recycling process to convert approximately 2,000 tonnes of black mass per year into battery-grade lithium-carbonate (Li2CO3), lithium hydroxide (LiOH), and precursor cathode active material (pCAM) for future lithium-ion battery manufacturing.