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Battery X Metals Inc. (BATXF) is a Canadian company focused on critical mineral exploration and the development of battery recycling technology. The company recently achieved a significant milestone in battery recycling by delivering black mass from end-of-life lithium-ion batteries to the University of British Columbia for a Joint Development Partnership. Additionally, Battery X Metals bolstered its team with experienced personnel to advance its battery metal exploration and recycling technology initiatives. The company has also changed its trading symbol on the OTC Markets to BATXF, aligning with its focus on the battery metals industry. Battery X Metals is committed to sustainable energy solutions through its exploration efforts and innovative technologies.
Battery X Metals announces significant progress in eco-friendly lithium-ion battery material recovery technology through collaboration with a Global Top 20 University. The company's proprietary froth flotation process has shown promising results in recovering battery-grade graphite from black mass, addressing a critical gap in battery recycling. Initial tests successfully recovered approximately 45% of black mass samples, primarily graphite, while oxides and phosphates remained in tailings. The company plans to conduct chemical assays to quantify recovery rates and validate oxide and phosphate recovery, followed by provisional patent applications. Battery X's strategy focuses on licensing this technology to existing battery recyclers as a downstream technology partner.
Battery X Metals' portfolio company LIBRT has strengthened its partnership with BJPN through a Second Amended Agreement to accelerate the development of EV battery diagnostic and rebalancing technology. Key highlights include:
1. Progress towards Prototype 2.0, expected by April 2025, aimed at improving lithium-ion and EV battery performance and longevity.
2. Clarification of intellectual property ownership, payment obligations, and exclusive licensing rights.
3. LIBRT retains ownership of core technology, while BJPN owns specific components.
4. Exclusive licensing agreements for both parties in respective territories.
5. Battery X Metals holds a 49% equity interest in LIBRT with an option to acquire the remaining 51%.
The partnership aims to enhance battery health, performance, and lifespan, potentially revolutionizing the EV industry.
Battery X Metals (CSE: BATX, OTCQB: BATXF, FSE: R0W) finalizes the acquisition of 100% ownership of two Quebec lithium exploration projects and 49% of Li-ion Battery Renewable Technologies Inc. (LIBRT). This $750,000 transaction, paid through issuing 7.5 million BATX shares at $0.10 per share, enhances the company's lithium project portfolio and battery technology capabilities.
The Quebec projects comprise 83 claims in Nunavik and 52 claims in Abitibi. LIBRT, recognized by the National Research Council of Canada, specializes in lithium-ion battery health diagnostics and cell rebalancing technology, extending battery lifespan by 2-3 years. The company also utilizes AI for battery maintenance in secondary Battery Energy Storage Systems (BESS).
Additionally, BATX announces the need to file a Business Acquisition Report for its previous acquisition of YY Resources Inc.
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