FAIRFIELD, Ohio, Sept. 10,
2024 /PRNewswire/ -- Nth Cycle, the globally
recognized critical metal refining company, has made history as the
first company in the United States
to produce premium nickel cobalt MHP - a mandatory component
for multiple clean-energy, consumer and defense markets. In less
than 12 months, the company installed and operationalized its
groundbreaking Oyster system at an existing 20K square foot facility in Ohio to process black-mass and other nickel
scrap, serve as an independent test site for partners, and end the
country's decades-long supply-chain reliance on China. The company commemorated the launch
with a ribbon-cutting ceremony on September
9th, 2024 attended by Congressman Brad Wenstrup, officials with the US Department
of Energy, Fairfield Mayor
Mitch Rhodus, Cincinnati Mayor Aftab
Pureval, State Representative Jennifer Gross, and partners of Nth Cycle.
Unlike other refining methods - both overseas and domestic - Nth
Cycle's Oyster can co-locate with recyclers, manufacturers,
and miners on-site, eliminating the years of permitting and
billions of dollars needed to build a stand-alone refining plant,
while dramatically reducing transportation, time-to-market, cost,
emissions and waste. With Nth Cycle's patented electro-extraction
technology, the Oyster, converts recyclable industrial waste and
mined ore into the full spectrum of critical metals using
electricity - not fossil fuels. This revolutionary innovation
replaces pyrometallurgy with one of the cleanest technologies in
the world, and accelerates the net zero targets of the public and
private sector.
"In less than 12 months, we've installed and operationalized our
state-of-the-art Oyster system, creating the first commercial
domestic source of high-quality nickel and cobalt MHP from scrap,"
said Megan O'Connor, co-founder and
CEO of Nth Cycle. "This system not only helps to end decades of
U.S. reliance on foreign supply chains, but also sets a new
standard for modular, sustainable, high-purity critical metals
production."
The Oyster reduces greenhouse gas emissions by
>90% compared to traditional mining methods, and helps
manufacturers meet the Inflation Reduction Act's strict domestic
sourcing requirements for electric vehicles. In Ohio, the one unit installed can process up to
3,100 tonnes of scrap materials to produce up to 900 tonnes of MHP
per year (equivalent to upwards of 22 million cell phone
batteries), and allows partners - including recyclers, OEMs, and
Fortune 500 automotive, consumer, and electronics giants – to
validate its effectiveness in advance of co-location.
Located in Fairfield, a
designated Disadvantaged Community per the Climate and Economic
Justice Screening Tool, the facility will create new jobs and
provide critical opportunities in the expanding clean energy
market.
National Significance
Critical metals are central to
the country's future: from electric vehicles to the electric grid,
from computers to phones to aviation, defense, and public transit.
While the United States has
resources rich with these metals, there has been no refining
capability to separate and extract them for end-use. As a result,
85% of the country's critical metal refining is done in
China. This dependence has created
a national crisis which is now central to the country's highest
strategic priorities: the DOE has identified refining as the most
urgent gap in the lithium-ion battery supply chain, and legislation
has been passed and introduced to address the threat it poses to
the country's economy and national security. Nth Cycle's solution
provides compliance with the Inflation Reduction Act, was awarded a
$7.2m 48C tax credit for the
Ohio facility under its Advanced
Energy Project Tax Credit program, and is aligned with the goals of
related bi-partisan initiatives.
About Nth Cycle
Nth Cycle is the industry leader in
metal refining and at the forefront of revolutionizing the
country's domestic supply chain and clean-energy economy. Featuring
its patented electro-extraction technology, the company's Oyster
system can co-locate with recyclers, manufacturers, and miners to
recover the full spectrum of critical metals from end-of-life
batteries, scrap metal and ore. The company's solution is modular,
supports multiple industries, and represents one of the biggest
sustainability advancements in history. Nth Cycle has headquarters
in Burlington, MA, a Commercial
Production Site for Partners in Ohio, and is the first company in the United States to produce Nickel Cobalt MHP
at commercial scale.
Media Contact:
Colin
Mahoney
383018@email4pr.com
212-220-6045
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SOURCE Nth Cycle