Full Circle Lithium Corp. (“FCL” or the “Company”) (TSXV:FCLI), a
USA-based lithium products manufacturer and recycler with a highly
experienced and proven technical team and a fully permitted lithium
processing plant in Georgia, has developed a proprietary agent for
supressing and extinguishing lithium based fires (“FSS”). FCL has
recently filed a U.S. patent application to protect its technology.
Given that LIB-related fires have been difficult to contain with
water or other conventional fire fighting tools, and have caused
loss of life and extensive damage, fire fighting and safety
authorities in the USA and around the world, as well as
manufacturers, have been raising concerns as the LIB industry
develops. There is a need in this industry for effective solutions
to extinguish LIB fires, and prevent the release of hazardous
chemicals, as the USA and world converts to electric powered
transportation.
A crucial step towards developing LIBs and the
devices they power - be it electric vehicles, scooters, power
tools, computers or cellphones - is their safe operation and
handling. LIBs contain, along with stored energy, potentially
hazardous chemical constituents. As such there are dangers
associated with the use of LIBs, including fire hazards. Other
hazards include inadvertent or uncontrolled discharge of the
remaining stored energy resulting in explosions and the release of
toxic chemicals that may include flammable hydrogen gas and
hydrogen fluoride.
If there is a defect, damage, or trauma to a LIB
in an electric vehicle, scooter, or other LIB-powered device, the
release of energy can be explosive and can initiate fires. Once
started, the fire can consume other battery materials such as the
electrolyte solution and battery separator, which also may oxidize
and contribute to various simultaneous potentially harmful
reactions within the LIB. Even if the initial fire is extinguished
using conventional means, the LIB may reignite later, as there may
be remaining energy contained and potentially ongoing reactions
within the battery. Not only is the extinguishing of the initial
fire important, but it is also crucial to contain and prevent
future internal reactions and reignition of the LIB fire.
While the global fire fighting solution industry
is an extremely large multi billion-dollar market, LIB focused fire
solutions currently form a small but rapidly growing segment of
that market given the exponential growth of lithium-ion batteries
as well as the concern and understanding of this hazard. With its
proprietary FSS, FCL hopes to play a leading role in this
developing industry segment.
“It is known that a typical full size EV fire
can take up to 40 times more water than a typical internal
combustion engine car to put out a fire, and there is a serious
risk that it reignites later on as water and other conventional
fire fighting agents do not directly act on the causes of the LIB
file” said Mr. Carlos Vicens, Founder, CEO & Director of FCL.
“We are extremely excited that FCL’s proprietary FSS could be a
critical solution in fighting such fires, not only for EVs but for
the entire LIBs battery industry.”
The Company is taking important steps to create
a clear technical development plan, including third-party expert
product testing and certification in order to establish critical
credibility of the product to authorities and the marketplace. In
initial testing by the Company, its FSS quickly extinguished fires
of LIB cells while utilizing minimal FSS solution, with no
reignition of the fire.
“This is a prime example of FCL’s mission to use
its deep knowledge of lithium chemistry to create value for the
Company” mentioned Tom Currin, Founder and COO of FCL. “This
invention arose from the process safety development work performed
for our battery recycling business unit and reinforces our
bottoms-up approach to understand the chemistry that underlies all
our processes. While our technical team has many decades of lithium
processing experience, it is still early days for FCL, and we have
a lot of ideas and important developments ahead of us.”
FCL intends to fully protect the intellectual
property rights associated with its business and technology assets.
The Company will continue to protect its technology, inventions and
improvements thereto that are commercially important to the
development of its business using intellectual property rights,
including patents, trademarks and trade secrets.
As a reminder, The FCL Demo Plant and FCL LEP
technology are environmentally focused processes using minimal
water and limited reagents. FCL is aligned with the sustainability
and cost objectives of its customers, communities, and governmental
infrastructure initiatives.
Full Circle Lithium Corp.
Carlos Vicens – CEO &
Directorcvicens@fullcirclelithium.com
About Full Circle Lithium
Corp.
With a fully permitted lithium processing plant
in Georgia, USA and a complement of seasoned lithium experts, FCL
is a lithium processor focused on lithium and battery materials
reintegration to meet the demand for crucial battery-grade raw
materials, utilizing proprietary technology and know-how. FCL is
focused on three complementary battery material processing
divisions: battery recycling from end-of-life lithium-ion
batteries, lithium mid-stream recycling from industrial and
chemical feedstock, and lithium refinery from upstream feedstock.
Additional information regarding FCL is available on SEDAR at
www.sedar.com under the Company's profile and its website
www.fullcirclelithium.com.
Cautionary Statement
This news release contains forward-looking
statements within the meaning of securities legislation in the
United States and Canada and which are based on the expectations,
estimates and projections of management of the parties as of the
date of this news release unless otherwise stated. Forward-looking
statements are generally identifiable by use of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", “could”, "believe", "plans",
"intends" or the negative of these words or other variations on
these words or comparable terminology. More particularly, and
without limitation, this news release contains forward-looking
statements and information concerning expectations on the
viability, effectiveness, safety and any potential commercial
production and commercialization related to the FSS which is at an
early stage of development, on receiving patent protection for the
FSS and related inventions and processes, the ability of FCL, a
start-up venture, to continue raising capital, upgrading and
refurbishing its plant, and sourcing feedstock for its business.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. Such factors include, among others,
the uncertainties and risk factors related to the technical
elements in a processing and refining business, loss of key
technical and other staff, lithium price fluctuations, the FSS
functioning as expected to meet safety requirements, related
government regulations and potential client product specifications,
and applicable environmental requirements and issues – see
additional risks described in FCL’s public filings. Actual results,
developments and timetables could vary significantly from the
estimates presented. Readers are cautioned not to put undue
reliance on forward-looking statements. FCL disclaims any intent or
obligation to update publicly such forward-looking statements,
whether as a result of new information, future events or otherwise,
unless required by law. Additionally, FCL undertakes no obligation
to comment on analyses, expectations or statements made by third
parties in respect of FCL, its financial or operating results or
its securities.
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