Recyclico Battery Materials Inc.
  • RecycLiCo (AMY) has signed a Memorandum of Understanding (MOU) with Korean electronics manufacturer, Sonid Inc
  • The MOU outlines the strategic partnership and business framework for establishing a lithium-ion battery recycling facility
  • Sonid Inc. is a Korea-based listed company which engages in the manufacture and sale of electronic materials
  • RecycLiCo is a battery materials company focusing on recycling and upcycling lithium-ion battery waste
  • Recyclico Battery Materials Inc. (AMY) is up 7.58 per cent, trading at C$0.355 per share at 4:02 pm ET

RecycLiCo (AMY) has signed a Memorandum of Understanding (MOU) with Korean electronics manufacturer Sonid Inc.

The MOU represents promising steps towards a potential commercial joint venture or technology licensing arrangement of RecycLiCo’s technology.

The MOU outlines the strategic 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, pretreatment, and hydrometallurgical processing of end-of-life batteries.

This partnership represents an exciting opportunity for both companies to expand their operations and contribute to the sustainability of the lithium-ion battery supply chain.

Zarko Meseldzija, CEO and Director of RecycLiCo Battery, commented on the news.

“The signing of this MOU marks the beginning of a potential partnership that could bring the RecycLiCo technology to commercial scale. 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.”

Sonid Inc. is a Korea-based listed company which engages in the manufacture and sale of electronic materials.

RecycLiCo is a battery materials company focusing on recycling and upcycling lithium-ion battery waste.

Recyclico Battery Materials Inc. (AMY) is up 7.58 per cent, trading at C$0.355 per share at 4:02 pm ET.


More From The Market Online

KWESST to provide situational awareness for the Canadian Red Cross

KWESST Micro Systems (TSXV:KWE) wins a contract to provide a situational awareness app to support the Canadian Red Cross.

Air Canada stock rises as service from Ottawa grows

Air Canada (TSX:AC) boosts its schedule serving Ottawa by almost 60 per cent with more flights across the nation.

Odd Burger to add 40 locations in Florida

Odd Burger (TSXV:ODD) will develop 40 new locations in Florida over the next eight years, with its sights set on further U.S. expansion.