First Majestic Silver Corp. press release
RecycLiCo Battery Materials agrees to joint venture with Zenith Chemical in Taiwan
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(NewsDirect)
RecycLiCo Battery Materials CEO Zarko Meseldzija joined Steve Darling from Proactive to share news the company has made a major move agreeing to a 50-50 joint venture agreement with Zenith Chemical Corporation in Taiwan.
The deal will see a 2,000 metric ton per year lithium-ion battery recycling plant in built in Taiwan. This project represents a significant scale-up compared to their Vancouver demonstration plant. RecycLiCo aims to tailor their technology to different markets and expand through multiple joint ventures.
Meseldzija telling Proactive each side will contribute 50% of the cost in three initial stages, with the balance being advanced as required to fund construction and start-up costs. That plant is expected to cost $25 million to build and will be used for processing and converting lithium-ion battery waste into lithium-ion battery precursor cathode active material, lithium hydroxide monohydrate, and lithium carbonate.
The Zenith contribution will be funded in cash and RecycLiCo will receive a 10% interest in the joint venture company in return for a license of its technology, and the rest in cash.
Contact Details
Proactive Canada
+1 604-688-8158
na-editorial@proactiveinvestors.com
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