RecycLiCo receives approval from Taiwan for battery recycling joint venture

SURREY — RecycLiCo Battery Materials Inc. involved in the field of sustainable lithium-ion battery recycling technology, announces that it has received investment approval from the Taiwan Department of Investment Review for its 50/50 joint venture with Zenith Chemical Corporation. The joint venture company, named Recyclico Zenith Battery Materials Technology Co., solidifies a partnership in the Company’s expansion within the Asian market.

Following the comprehensive and thorough approval process by the Taiwan Department of Investment Review, RecycLiCo has committed to an initial capital injection of NTD 24,000,000. This initial investment lays the foundation for the project, with subsequent investments to be determined by the joint venture company as needed throughout the construction and commissioning phases.

The joint venture has initiated its project planning, with Zenith Chemical leading the site preparation work in Taiwan and RecycLiCo is concurrently preparing a 2,000 mt/year modular plant in Vancouver. This modular plant is pivotal to the project and is intended to be transported to Taiwan for the final commissioning. The advanced battery recycling technology employed by the joint venture will be capable of processing black mass into high-value products, such as battery-grade lithium chemicals and precursor cathode active material (pCAM), thus positioning the joint venture at the forefront of advanced battery recycling solutions.

The project is expected to contribute to the Company’s global expansion in sustainable recycling solutions. Moreover, the modular construction approach of the plant allows for flexible scalability, enabling the joint venture to efficiently expand its capacity in response to the growing Asian battery recycling market.