- FCL has signed its first master distribution agreement to
market FCL-X™ within the USA with AEST Fire and Safety, a USA based fire safety products
distributor
- AEST has conducted extensive research and testing to
validate FCL-X™ ahead of its marketing
and sales efforts
TORONTO, Oct. 31,
2024 /CNW/ - Full Circle Lithium Corp. ("FCL" or the
"Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium products manufacturer,
announces the signing if an initial distribution agreement
with AEST Fire and Safety ("AEST"), marking a significant milestone
in the Company's efforts to commercialize its proprietary and
innovative lithium-ion battery fire fighting agent -
FCL-X™. This distribution arrangement will see AEST
market FCL-X™ across residential, industrial, and
commercial settings and most importantly into the first responder
fire safety industry.
In the United States, there are
over 27,000 fire departments responding to emergencies from more
than 58,000 fire stations. Between 2017 and 2022, there were over
25,000 fire incidents related to lithium-ion batteries, with
numbers rising each year. This presents a significant challenge for
both fire departments and the public, particularly in urban areas
where the use of electric vehicles, e-bikes, and e-scooters has
surged, and traditional fire suppression agents have proven
inadequate. Globally, incidents of lithium-ion battery-related
fires are increasing, resulting in both physical damage and
personal loss. FCL believes that its FCL-X™
lithium-ion battery fire extinguishing agent is ideally suited to
not only reduce the hazards associated with these fires but also to
extinguish them completely, aiding firefighters, first responders,
and the public in minimizing their impact on human lives and
property.
Renowned for its proven track record in fire safety solutions,
AEST has conducted extensive research and testing to satisfy itself
that FCL-X™ is best in class for these types of
fires. This collaboration will leverage AEST's expertise, resources
and established relationships with retailers and wholesalers,
ensuring that FCL-X™ is broadly marketed to certain
segments of the US market.
"Recognizing the potential dangers of lithium-ion battery fires,
finding an effective extinguishing agent has been an urgent
priority for us," said David
Laviner, Founder & President of AEST. "Incidents
involving lithium-ion battery fires can have devastating
consequences, and there has been a lack of effective solutions in
the market specifically designed to combat these fires. The
FCL-X™ fire suppression agent represents a
significant advancement in our ability to protect lives and
property."
Carlos Vicens, CEO and Director
of FCL stated "AEST's reputation and commitment to excellence align
perfectly with our mission to protect against potential fire
hazards associated with lithium-ion batteries. The
FCL-X™ fire suppression agent is designed to mitigate
the risks associated with lithium-ion battery fires, offering
advanced technology tailored for efficient response. With this
partnership, FCL aims to establish a robust US distribution network
that ensures accessibility to this critical safety solution,
ultimately safeguarding lives and property."
The master distribution agreement with AEST primarily emphasizes
the FCL-X™ Extinguishers and FCL-X™ PRO
product lines, granting AEST certain exclusive distribution rights
in the USA for a defined period.
The Company retains the right to market all its products globally
and may pursue additional distribution agreements worldwide and, in
the USA, provided these do not
conflict with the AEST agreement.
About AEST Fire and Safety
AEST Fire and Safety provide professional equipment sales and
services to the fire and rescue industry and has an extensive
distribution network that covers key markets and regions in the
USA. AEST has an established
relationship with retailers and wholesalers and is a master
distributor for key brands such as Morning Pride, Genesis Rescue
Tools, Draeger, Artic Compressors, and BioEx Foam. With a +15-year
history of successful partnerships and a reputation for
reliability, AEST has consistently demonstrated the ability to
deliver results. AEST utilizes state-of-the-art logistics and
technology solutions to streamline operations in the fire
extinguishing agent supply chain industry.
About Full Circle Lithium Corp.
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 effectiveness of the marketing and sales
of FCL-X™ through distribution
agreements, the viability, effectiveness, safety and additional
commercialization related to FCL-X™ which
is at an early stage of 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 FCL-X™ and related inventions and
processes, the ability of FCL, a start-up venture, to successfully
commercialize its FCL-X™ including ramping-up
production of the agent to meet potential demand, continue raising
capital, upgrading and refurbishing its plant, and sourcing
feedstock for this and its other 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.
