- Rising Incidence of Residential and Industrial Lithium-ion
Battery Fires Sparks Urgent Need for Advanced Safety
Measures
- FCL-X™ recently passed the Dutch standardized
test (known as the NTA 8133) which is the most rigorous test on
portable fire extinguishers for lithium-ion battery fires in the
world.
- FCL-X™ has exceptional cooling capability and
has demonstrated no reignition while demonstrating the best cell
survival rate of any portable fire extinguishers tested to
date.
- FCL-X™ is now available direct to consumers at
AMAZON link here
- FCL continues to have discussions with larger regional and
national distributors to formalize sales of FCL-X™ products
to the commercial, industrial and public sectors.
TORONTO, Oct. 10,
2024 /CNW/ - Full Circle Lithium Corp. ("FCL" or the
"Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium products manufacturer, is
pleased to announce that its FCL-X™ specialty
lithium-ion battery fire extinguisher is now available to the
public in North America through
AMAZON.
With the global rise in the use of lithium-ion batteries across
various devices, there has been a concerning increase in the
incidence of lithium-ion battery fires. As these fires pose
significant risks to personal safety and property, the demand for
an effective fire suppression solution has never been more
critical. FCL-X™ is at the very forefront
of the critical fight against lithium-ion battery fires and is
expected to attract serious attention in this new and growing
global market. FCL has and will continue to have discussions with
distributors in the fire suppression industry that have significant
reach in North America in the
commercial, industrial and public sectors.
Lithium battery fires, often caused by thermal runaway, present
unique challenges due to their high energy release and potential
for re-ignition. Traditional fire extinguishers fail to address
these fires effectively, leaving users vulnerable to repeated
outbreaks, reignition, and prolonged danger. The
FCL-X™ specialty lithium-ion battery fire
extinguisher is specifically engineered to quickly, safely, and
fully extinguish lithium battery fires. Its advanced design and
technology offer unmatched protection, ensuring swift action to
mitigate risks and safeguard lives and property. In addition,
FCL-X™ has achieved the world-renowned leading
lithium-ion battery fire extinguishing Dutch Standard Designation
(the "NTA 8133"), other preliminary tests are on-going to obtain a
final report and stamp.
Key features of the FCL-X™
Lithium-ion Battery Fire Extinguisher include:
Immediate
Response: FCL-X™ is designed for rapid
deployment, allowing users to tackle fires at the onset,
significantly reducing damage and danger.
Comprehensive Safety: Utilizing a
proprietary water-based, non-toxic, non-PFAS, environmentally
friendly extinguishing agent, the FCL-X™ ensures user
safety and minimizes environmental impact.
Compact and Portable
Design: FCL-X™ lithium-ion battery
fire extinguisher is available in a compact 2.5-gallon format
making it easy to store and access, ideal for homes, offices, and
many other settings.
"We are witnessing an unprecedented rise in lithium battery
fires as these batteries become integral to modern
technology. These fires aren't limited to just industrial and
commercial settings. Nearly every household in North America contains multiple lithium
batteries, powering devices such as laptops, e-bikes, power tools,
cell phones, and electric vehicles." said Carlos Vicens, CEO of Full Circle Lithium.
"FCL-X™ is a critical innovation, providing a
reliable and effective solution where traditional extinguishers
fall short. Its availability on AMAZON means more people can
protect themselves and their homes with the best safety technology
available."
The FCL-X™ Extinguisher in its 2.5-gallon version
is now accessible to consumers and businesses via AMAZON in
North America only, offering a
robust line of defense against the growing threat of lithium
battery fires. Additional sizes and formats will be available
soon.
FCL-X™ is Uniquely Formulated to Fight
Lithium-ion Battery Fires
Lithium-ion battery fires are the result of thermal runaway and
catastrophic failure of the battery, caused by factors such as
overcharging, overheating, physical damage, or internal battery
malfunction, posing significant risks to property, life, and the
environment. Thermal runaway happens when Lithium-ion batteries hit
high temperatures, releasing toxic gases and igniting. Cooling the
entire battery pack is crucial to stop the reaction in the damaged
cells of the battery and prevent overheating and ignition in
additional cells. FCL-X™ was specifically designed to
extinguish and mitigate the hazards of Lithium-ion battery fires
and also to quickly cool additional battery cells in the battery
module.
For more detailed information on FCL-X™ please
visit our website at
https://fullcirclelithium.com/product-fcl-x/.
Correction to July 19 Press
Release
The Company is also announcing a correction to its previous
press release issued on July 19, 2024
(the "July Press Release") with respect to the closing of the
Offering (as defined in the July Press Release). Under the
Offering, a total of 6,262,000 Units (as defined in the July Press
Release) were issued for total gross proceeds of $1,565,500. The Company issued 394,535 Finder
Warrants (as defined in the July Press Release) and paid cash
commissions of $98,633.75 to arm's
length finders in connection with the Offering. All other details
of the Offering described in the July Press Release remain
unchanged.
Update On Operations
Hurricane Helene Impact
In the aftermath of Hurricane Helene's devastating impact on the
Southeastern United States, we
express our heartfelt condolences to the communities, families, and
individuals affected by this catastrophic event. We understand the
significant challenges faced by those in areas where the storm has
left many without power, water, and essential resources. The tragic
loss of life, including that of courageous first responders,
highlights the severity of Helene's effects. Our thoughts are with
everyone whose lives have been changed by this hurricane.
The rural communities in Georgia, where our employees and their
families live and where we operate, have felt these impacts
directly. The resilience demonstrated by these communities and our
employees, as they come together to support one another, reflects
the strength of the human spirit. Our teams are collaborating
closely with local utilities to aid efforts in restoring power and
communications, which are crucial for the affected regions,
including our plant in Nahunta.
Their dedication and perseverance have been truly inspiring.
Currently, operations at the Nahunta plant are suspended due to power
outages and other infrastructure issues in the area. A timeline for
reopening will be determined following assessments conducted over
the next few days. At this time, we can confirm that there has been
no major impact on the Nahunta
plant's operations.
Recycling and Processing Operations
Due to the ongoing challenges in the lithium market, including
prolonged low pricing and negative trends impacting all related
businesses, FCL has for some time been shifting its focus to one of
its several business opportunities – its
FCL-X™ fire extinguishing agent - which it
believes could generate substantial revenue in the near term and is
not directly impacted by lithium pricing. Consequently, the Company
is not, at this time, pursuing its other lithium price sensitive
business opportunities, being its lithium battery recycling,
industrial (midstream) lithium brine processing, and upstream
lithium brine processing, leading to a reduction in headcount, and
savings in operational and administrative costs.
About Full Circle Lithium Corp.
Following the Company's mantra of the "home of lithium science",
FCL has developed an innovative lithium-ion battery
fire-extinguishing agent (FCL-X™) to address the
increasing number of difficult to extinguish and hazardous
lithium-ion battery-based fires. A PCT patent application has been
filed by the company to protect its FCL-X™ invention.
Additional information regarding FCL is available on SEDAR at
www.sedar.com under the Company's profile and on its website
www.fullcirclelithium.com.
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
This news release contains forward-looking statements within
the meaning of securities legislation in the 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 production and additional commercialization related to
the battery fire extinguishing agent which is at an early stage of
development and commercialization (which is very difficult for a
start-up venture like FCL as there are much larger and better
capitalized established companies that can potentially quickly
enter the lithium-ion battery fire-fighting market and create
strong competition against FCL), on receiving patent protection for
this fire-extinguishing agent and related inventions and processes,
the ability of FCL, a start-up venture, to successfully
commercialize its fire-extinguishing agent including ramping-up
production of the agent to meet potential demand, continue raising
capital, upgrading and refurbishing its plant, and sourcing
feedstock for its lines of 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 battery fire-extinguishing agent
functioning as expected to meet safety requirements and
fire-fighting 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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SOURCE Full Circle Lithium Corp.