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Sixth Wave Signs Strategic Alliance Agreement with Zero Carbon Technologies Limited for Black Mass Extraction
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Sep 19, 2023, 6:30 AM ET
Sixth Wave Innovations Inc. (CSE:SIXW)
Chris Farnworth, CEO of Zero Carbon said, “We are pleased to be working with Sixth Wave to jointly develop EV battery critical mineral extraction for black mass, elements including Li and Graphite.”BEDFORD, NS, CANADA, September 19, 2023/EINPresswire.com/ -- Sixth Wave Innovations Inc. (CSE:SIXW) (OTC:SIXWF) (FSE:AHUH) (“Sixth Wave”, “SIXW” or the “Company”), a world leader in molecular imprinting technology, announced today it has signed a strategic Alliance Agreement (“Agreement”) with Zero Carbon Technologies Limited (“Zero Carbon”).
— Chris Farnworth
Under the terms of the Agreement Sixth Wave will perform business management consulting services (collectively the "SIXW Services") for Zero Carbon. These services shall include evaluation of battery recycling extraction and battery metal separation and recovery, program management for implementation of processing plant plans, laboratory analysis of samples, and development of process flow sheets based on best practices and technology available for specific applications. Any engagement to perform SIXW Services shall be on such terms and conditions as Zero Carbon may approve in its sole discretion.
As of this press release, Sixth Wave has delivered a proposal for an advanced lithium ion battery recycling process flow and development program. The input material for the process, referred to as “black mass”, contains a mixture of critical battery metals including nickel, cobalt, and lithium, but also significant amounts of graphite and impurities. The proposal submitted will allow efficient separation and recovery of the metals and graphite and allow for processing these back to battery grade material by Zero Carbon. The proposed work will be covered by a licensing agreement currently under negotiation that provides funding to accelerate the development of a pilot plant and ultimately a production plant that will be at their first recycling location in Spain. Sixth Wave will continue to generate revenue past the development and production facility launch by way of a royalty based on the finished goods produced by the recycling process. Zero Carbon intends to expand its battery recycling facilities into multiple countries.
“Sixth Wave is proud to support Zero Carbon in its efforts to reduce the impact of electrification on the environment. With demand growing faster for critical metals than mining can support, recycling of these metals is paramount to ensuring supply and reducing the overall impact on the environment.” said Dr. Gluckman, President and CEO of Sixth Wave.
Zero Carbon is a business entity incorporated in Great Britain and Wales in the year 2021 with plans to build and operate a battery recycling plant in La Mancha Province, Spain which will provide circular critical metals recovery from EV LI Ion and lead batteries.
Zero Carbon low-CO2 battery recycling solution makes it possible to recycle over 80% of the battery, and 95% of the valuable metals contained in the battery's black mass can be put back into circulation. The company has a significant opportunity due to a current critical metal shortage in current markets and is revolutionizing the lead and lithium-ion battery value chain for electric vehicles and industrial use batteries.
Chris Farnworth, CEO of Zero Carbon said, “We are very pleased to be working with Sixth Wave to jointly develop EV battery critical mineral extraction for black mass, elements include Li, Graphite, Mn, and Co.”
About Sixth Wave
Sixth Wave is a development stage nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized molecularly imprinted polymers (MIPs). The Company is in the process of commercializing its Affinity™ cannabinoid purification system, as well as IXOS®, a line of extraction polymers for the gold mining and lithium spodumene industries.
For more information about Sixth Wave, please visit: www.sixthwave.com
ON BEHALF OF THE BOARD OF DIRECTORS
Jonathan Gluckman, Ph.D., President & CEO
For information, please contact the Company:
Phone: (801) 582-0559
This press release includes certain statements that may be deemed “forward-looking statements” including statements regarding the planned features of the MIPs technology. All statements in this release, other than statements of historical facts, which address future events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. In particular, successful development and commercialization of the MIPs technology and the proposed recycling flow sheet are subject to the risk that the technology may not prove to be successful. The value of any products ultimately developed could be negatively impacted if its patent applications are not successful. The Company has not yet completed development of a prototype for the product that is subject of its patent application and has not yet applied for regulatory approval for the use of this product from any regulatory agency if such approvals are applicable.
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