TORONTO, Dec. 7, 2021 /CNW/ - Electra Battery Materials
Corporation (TSXV: ELBM) (OTCQX: FTSSF) (the "Company") today
announced positive results from engineering studies and
metallurgical test work for lithium-ion battery recycling. The
Company intends to commence refining the key components of electric
vehicle batteries, known as black mass, in mid-2022 as the second
phase of a four-part strategy to become a low carbon North American
battery materials park that will include battery grade nickel and
cobalt, battery recycling and precursor manufacturing. Electra is
poised to become one of the first companies to treat recycled
battery materials using existing infrastructure and equipment at
its Canadian hydrometallurgical complex.
HIGHLIGHTS
- Through extensive testwork, the Company has developed a
flowsheet that can recover key elements from batteries, including
lithium, nickel, cobalt, copper and graphite; patent applications
are pending
- Engineering studies confirmed that Electra's existing refinery
complex has the infrastructure, scale and equipment to process a
bulk sample of material on a full production scale basis in
mid-2022 with an initial investment of under US$3 million
- Electra will grow its recycling business in a staged, modular
fashion, initially targeting black mass from consumer electronics
and subsequently targeting primary battery scrap material from
North American EV cell manufacturers
- Recycling facility will have a very low carbon footprint due to
a 100% hydrometallurgical process and hydroelectric power source
resulting in nearly zero greenhouse gas (GHG) emissions
"A secure, sustainable and domestic solution for
recycling lithium-ion batteries is essential as North America shifts to electric mobility. At
present, there is no industrial scale hydrometallurgical facility
in North America to recycle the
black mass material that is recovered when lithium-ion batteries
are dismantled and shredded," said Trent Mell, CEO. "With our existing facility
in Canada, Electra can be the
first recycler to establish a closed-loop supply of battery
materials, making electric vehicles more sustainable and more
reliant on domestic material. Our first concrete steps on that path
will be a commercial scale demonstration plant in 2022 utilizing
existing facilities and equipment."
Vice President, Project Development Mark Trevisiol
added: "We plan to demonstrate the ability to make products
containing, nickel, cobalt, copper, lithium and graphite all from
recycled lithium-ion batteries. This would be the first industrial
scale operation in North America
to recover this list of recycled products for resale. Our first
circuit will treat black mass from suppliers that we have
identified as potential partners and can then be expanded to treat
battery scrap from CAM and cell manufacturers."
Electra's processing team has been working with Hatch and SGS
Lakefield since Q2 2021 to develop a flow sheet targeting lithium,
nickel, cobalt, copper, graphite and manganese, using a 100%
hydrometallurgical process that employs existing equipment at the
Company's refinery in Canada.
Testwork confirmed that the refinery's current state will allow for
successful hydrometallurgical processes to first produce cobalt,
nickel, copper, lithium and graphite products at a commercial
scale.
Capital costs for the demonstration plant are projected to be
under US$3 million making use of
existing equipment, infrastructure with an experienced processing
team on site developing the Company's cobalt sulfate plant. An
additional investment will allow the facility to produce
battery-grade materials that can be directly returned to the
lithium-ion battery supply chain. The Company has been contacted by
more than 20 black mass producers in North America and around the world who are
interested in selling their feed material to Electra for
beneficiation.
Electra is expanding its permitted Canadian refinery to produce
5,000 tonnes of cobalt contained in a battery-grade cobalt sulfate
beginning in Q4 2022. The refinery will have installed
instantaneous capacity to operate at 6,500 tonnes per year. The
Company's Battery Materials Park will host cobalt and nickel
sulfate production plants, a large-scale lithium-ion battery
recycling facility, and battery precursor materials production,
which will serve both North American and global customers.
Initial capacity of the cobalt, nickel and precursor facilities
at the Battery Materials Park will be designed to supply raw
materials for over 1.5 million electric vehicles per year. The
facilities will be built in a modular fashion, allowing Electra to
expand capacity as the lithium-ion industry grows.
A recent report by BMO Capital Markets concluded that
"hydrometallurgy (absent thermal/pyro pre-processing) [is] the
premier lithium-ion battery recycling option, given its lower
environmental footprint (a key factor in securing OEM partnerships
and plant permits)." The report also notes that hydrometallurgy
results in broader raw material recovery yield potential, enables
better technology adaptability and better profitability. Based on
independent peer comparisons conducted by London-based Minviro Ltd., Electra's facility
will have 51% lower greenhouse gas emissions than comparable plants
in China. Electra will remain true
to its purpose and help make the world a better place.
About Electra Battery Materials
Electra is building North
America's only fully integrated, localized and
environmentally sustainable battery materials park. Leveraging the
company's own mining assets and business partners, the Electra
Battery Materials Park will host cobalt and nickel sulfate
production plants, a large-scale lithium-ion battery recycling
facility, and battery precursor materials production, which will
serve both North American and global customers. Electra Battery
Materials is an integral part of the North American battery supply
chain, providing low-carbon, sustainable and traceable raw
materials for the region's fast growing electric vehicle
industry.
On behalf of Electra Battery Materials.
Trent Mell
President & Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding Forward-Looking
Statements
This news release may contain forward-looking statements and
forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws and
the United States Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
can be identified by the use of terminology such as "plans",
"expects', "estimates", "intends", "anticipates", "believes" or
variations of such words, or statements that certain actions,
events or results "may", "could", "would", "might", "occur" or "be
achieved". Forward-looking statements involve risks, uncertainties
and other factors that could cause actual results, performance, and
opportunities to differ materially from those implied by such
forward-looking statements. Factors that could cause actual results
to differ materially from these forward-looking statements are set
forth in the management discussion and analysis and other
disclosures of risk factors for Electra, filed on SEDAR at
www.sedar.com. Although Electra believes that the information and
assumptions used in preparing the forward-looking statements are
reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the
disclosed times frames or at all. Except where required by
applicable law, Electra disclaims any intention or obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/engineering-report-gives-electra-green-light-for-battery-recycling-301438640.html
SOURCE Electra Battery Materials Corporation
