- FCL is rebranding its proprietary lithium-ion battery
fire-extinguishing agent to FCL-X® as
it prepares for initial commercial roll-out in
North America.
- FCL was invited and successfully completed tests of
FCL-X® for a global EV OEM at its meta plant and monitored
by the local county fire departments.
- FCL also completed a successful test of FCL-X® for
the Georgia Ports Authority and local first responders at a local
fire department in Bryan County,
Georgia.
- FCL-X® has received positive reviews from an
EV OEM, Georgia Ports Authority, and fire department officials in
Georgia.
- FCL-X® is uniquely targeted at the
complex chemical reactions that cause lithium-ion battery fires,
and successfully extinguished EV lithium-ion battery fires, limited
the amount of toxic smoke.
TORONTO, May 28, 2024
/CNW/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV:
FCLI) (OTCQB: FCLIF), a USA-based
lithium products manufacturer, reports that it has successfully
tested its newly rebranded proprietary lithium-ion battery
fire-extinguishing agent, FCL-X®, with a global electric
vehicle manufacturer (EV OEM) at its Georgia manufacturing meta plant and local
fire department for the Georgia Ports Authority (GPA). These tests
were monitored by the local Bryan
and Glynn County Fire Departments
in Georgia.
These testing opportunities are the result of the completion of
three successful independent laboratory tests specifically
targeting lithium-ion batteries, including those used in household
electronics, electric scooters/ebikes, and electric vehicles (EVs).
The three separate tests focused on different scenarios and
environments to ensure the reliability and versatility of
FCL-X® and compared it to other leading battery
fire-fighting agents including water (which is being used today by
first responders on lithium-ion battery fires). These tests were
conducted by an independent, accredited US-certified laboratory and
included controlled laboratory settings and real-world
simulations.
The successful outcomes of these tests validate the
effectiveness of FCL-X® in quickly, safely, and effectively
extinguishing lithium-ion battery fires in an environmentally safe
manner. According to the independent laboratory, in comparison to
other leading agents, FCL-X® was "orders of magnitude"
faster extinguishing the lithium-ion battery fires, used
considerably less agent, and limited the toxic smoke generated by
these fires. FCL-X® is unique as the FCL lithium
engineering team developed it to specifically neutralize the
complex chemical reactions that cause lithium-ion battery
fires.
The EV OEM, GPA, and local fire departments have been diligently
searching for an effective fire-fighting agent tailored to
lithium-ion batteries. Based on their assessment, the FCL-X®
extinguishment performance was outstanding, requiring minimal
clean-up and instilling confidence in preventing re-ignition. As a
result of the success of the recent testing, FCL believes it's well
positioned to immediately begin commercializing FCL-X®.
Carlos Vicens, CEO of FCL
commented: "There is a lack of lithium-ion battery specific
fire-fighting agents in the market today and given the serious
personal and business risks posed by lithium-ion battery fires
globally, many participants in the EV battery chain, including
first responders and EV OEMs, are actively searching for and
testing various potential extinguishing agents. We believe that
given the enormity of the risk posed by lithium-ion battery fires
globally, the battery fire-fighting agent market is substantial and
in its infancy. The proprietary FCL-X® agent is uniquely
effective for fighting lithium-ion battery fires and so represents
an exceptionally large potential opportunity for FCL."
Tom Currin, COO of Full Circle
Lithium, commented: "We have seen a considerable amount of interest
from several different industries who are both concerned from a
safety perspective and have not been able to find a safe and
effective solution. As a part of our commercial roll-out
strategy, we are rebranding our FCL lithium-ion battery
extinguishing agent to FCL-X®."
With the noted testing and validation of the FCL-X®, FCL
is now poised to enter the global market with its innovative
fire-extinguishing technology. The Company's focus on lithium-ion
battery fire safety aligns with the increasing demand for reliable
fire suppression solutions in industries such as fire fighting,
automotive, residential, energy storage, and consumer electronics.
The United States, being one of
the largest markets for electric vehicles and related technologies,
presents a significant opportunity for FCL to introduce its
FCL-X® product.
Carlos Vicens, CEO of FCL
commented, "We believe we are situated in an ideal geographic
location as the state of Georgia
is focused on the future of electrification with over US$20B in EV OEM related projects currently being
built. This is an ideal scenario for the commencement of the
commercial roll-out of the FCL-X®".
About Full Circle Lithium Corp.
Situated in the epicenter of the largest EV buildout in
North America, FCL's fully
permitted lithium products manufacturing plant in the state of
Georgia, USA combined with a
complement of seasoned lithium experts, makes FCL a unique
processor and manufacturer of lithium products. FCL is focused on
lithium and battery materials reintegration to meet the demand for
crucial battery-grade raw materials, utilizing proprietary
technology and know-how. Following on the Company's mantra of "the
home of lithium science", FCL has also developed an innovative
battery fire extinguishing agent (FCL-X®) to address the
increasing number of difficult to extinguish and hazardous lithium
battery-based fires. 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
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 commercialization related to the battery
fire extinguishing agent which is at an early stage of testing and
development, on receiving patent protection for this agent 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 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.