SURREY, British Columbia, Jan. 28, 2025 (GLOBE NEWSWIRE) -- RecycLiCo Battery Materials Inc. (“RecycLiCo” or the “Company”), (TSX.V: AMY | OTCQB: AMYZF| FSE: ID4), a pioneer in the field of lithium-ion battery recycling technology, is pleased to announce that it has engaged Penney Capital and Carmot Strategic Group, Inc. to assist in the company’s efforts to identify, and qualify for, government funding opportunities that could be used to further RecycLiCo’s critical mineral recovery activities in the U.S. and Canada, including research to enhance and find new applications for its current intellectual property and know-how and the continued exploitation of its upcycling technology.
Carmot Strategic and Penney Capital advisory companies have won multiple federal grants to develop domestic sources of Critical Minerals, from mining and processing to advanced materials manufacturing, as well as developing innovative financial instruments to integrate these materials into U.S. supply chains.
"We are very pleased to have Carmot Strategic and Penney Capital working with us," said Richard Sadowsky, RecycLiCo’s Interim Chief Executive Officer. "Critical mineral recovery and reuse are becoming increasingly important, especially in terms of national security. The RecycLiCo Board has mandated that we explore new ways to exploit our recovery expertise and, at the same time, continue to offer high-quality upcycling of battery materials. We hope, with Carmot and Penney’s assistance, to establish relationships with government agencies that will support increases in the pace of both R&D and deployment."
RecycLiCo Battery Materials Inc. is a battery materials company specializing in sustainable lithium-ion battery upcycling and materials production. RecycLiCo has developed advanced technologies that efficiently recover battery-grade materials from lithium-ion batteries, addressing the global demand for environmentally friendly solutions in energy storage. With minimal processing steps and up to 99% extraction of lithium, cobalt, nickel, and manganese. RecycLiCo’s hydrometallurgical process turns lithium-ion battery waste into battery-grade cathode precursor, lithium hydroxide, and lithium carbonate for direct integration into the re- manufacturing of new lithium-ion batteries.
Founded in 2017 by President & CEO Clark Penney, Penney Capital excels at navigating, connecting, and expanding new development opportunities and large-investment infrastructure projects.
Prior to founding Penney Capital, Clark Penney began his career working on energy and defense committees with the U.S. Senate in Washington D.C. and with the president pro tempore. Later, he branched into the finance industry for over 10 years: co-founding Cypress Wealth Management, a private wealth management firm now with over $1 billion in assets under management and offices in Alaska and California, where he remains a partner.
Today, Penney Capital's resume includes leading economic development with The State of Alaska, new development projects worth over $2 billion, and other areas of expertise including resource development, financial technology firms, cryptocurrency, campaigns, wireless technology, and manufacturing.
About Carmot Strategic Group
Established in 2008 by Daniel McGroarty, Carmot Strategic Group, Inc. is an issues management firm focused on Critical Mineral development, based in the Washington, D.C. area.
A recognized subject matter expert on Critical Minerals, Daniel McGroarty serves on the advisory boards of several companies developing U.S.-based Critical Mineral projects. He has testified on Critical Mineral issues before both U.S. Senate and House committees on energy and natural resources and served a term as Independent Advisory Board Member of the Critical Materials Institute, the Department of Energy’s Energy Innovation Hub. Prior to establishing his consulting practice, he served in senior positions in the U.S. Government, as special assistant at the White House and Presidential appointee at the Department of Defense.
For more information, please contact:
Teresa Piorun
Senior Corporate Secretary
Telephone: 778-574-4444
Email: InvestorServices@RecycLiCo.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward–looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
