RecycLiCo Battery Materials signs MOU with Sonid of South Korea
by CM staff
RecycLiCo and Sonid look to establish commercial battery recycling-upcycling facility.
SURREY — Battery Materials Inc., a battery materials company focused on the development of novel lithium-ion battery recycling and upcycling technologies, signed a Memorandum of Understanding (MOU) with Korean electronics manufacturer, Sonid Inc. The MOU represents steps towards a potential commercial joint venture or technology licensing arrangement of RecycLiCo’s technology.
“RecycLiCo is a company with excellent lithium-ion battery recycling technology,” said Choi Si-Myung, CEO of Sonid. “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.”
The MOU outlines the 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,” said Zarko Meseldzija, CEO and Director of RecycLiCo Battery Materials Inc. “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.”