RecycLiCo Battery Materials, headquartered in Surrey, British Columbia, and specializing in the recycling of lithium-ion batteries, has announced an amended and restated joint venture agreement with its Taiwanese partner, Zenith Chemical Corp. The aim of this amended agreement is to expedite the establishment of their joint venture. The primary change in this arrangement involves the timing and structure of cash contributions, aligning them with a revised schedule. This adjustment is intended to facilitate the approval process by Taiwanese regulatory authorities.

Crucially, the amended agreement maintains the economic essence of the original joint venture agreement, ensuring that all other terms and conditions remain unchanged. This includes the equitable 50/50 ownership split between RecycLiCo Battery Materials Inc. and Zenith Chemical Corp. This strategic collaboration was initially unveiled in June, with the shared goal of constructing a lithium-ion battery recycling plant in Taiwan. The facility, upon completion, is anticipated to have an annual recycling capacity of 2,000 metric tons and was estimated to cost approximately $25 million.

To expedite the joint venture's progress, representatives from RecycLiCo have recently conducted site visits to the location of the future plant in Taiwan. These visits were complemented by extensive discussions with Zenith, covering various technical and business aspects related to the design and construction of the recycling facility. In addition to these efforts, both companies have identified promising opportunities within the battery market and potential collaborators, all of which are expected to contribute to the successful realization of the recycling plant.

RecycLiCo's CEO, Zarko Meseldzija, expressed satisfaction with the advancements made in the joint venture and conveyed enthusiasm about the potential for a significant ramp-up in activities in the near future. This collaboration represents a critical step in advancing their shared mission of sustainable lithium-ion battery recycling.

The commercial recycling plant, once fully operational, will employ RecycLiCo's advanced hydrometallurgical recycling process. This cutting-edge technology will be leveraged to transform approximately 2,000 tons of black mass annually into high-quality battery-grade materials, including lithium carbonate (Li2CO3), lithium hydroxide (LiOH), and precursor cathode active material (pCAM). These materials will play a pivotal role in the production of future lithium-ion batteries, thereby closing the loop and contributing to a more sustainable and environmentally responsible battery industry.

On the other hand, Zenith Chemical Corp. specializes in the production of nickel-based chemicals, including high-purity nickel sulfate, which is a critical component in the production of lithium-ion batteries. This expertise positions Zenith as a valuable partner in the joint venture, aligning with their commitment to the development of battery technologies and materials.