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One of the companies that could be in focus among investors this morning is RecycLiCo Battery Materials Inc (OTC:AMYZF) (AMY.V) The company is involved in the battery materials space which is focused on developing environmentally friendly and novel lithium-ion batteries for recycling and upcycling technologies.
Yesterday the company came into the news cycle after it announced that go into a 50-50 joint venture with the company Zenith Chemical Corporation for the purpose of building a 2000 metric ton a-year lithium-ion battery recycling plant in Taiwan. The initial plant is going to cost the joint venture as much as $25 million to build and would be meant for the processing and conversion of lithium-ion battery waste to valuable resources.
The valuable resources could be lithium-ion battery precursors like cathode active materials, lithium carbonate, and lithium hydroxide monohydrate.
It was noted that both parties had reached an agreement to build their first battery recycling facility on a commercial scale and to contribute 50% of the necessary capital in three stages initially.
The balance would be advanced as and when required for the purpose of funding construction and start-up costs. Zenith would make the entirety of its contribution in cash and RecycLiCo Battery Materials would be provided with a 10% stake in the joint venture company for providing its technology to the plant. The rest of the 40% of the funding would be provided in cash by RecycLiCo.
The joint venture would combine the considerable expertise, resources, and technologies of both companies in order to make it work. Zenith would also be responsible for supplying the project with its existing labor resources, land, and infrastructure in Taiwan. Zenith is a company that is a specialist in producing nickel-based chemicals and its products have gained worldwide recognition.
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