Full Circle Lithium Secures First FCL-X® Fire-Extinguisher Agent Sales With Global EV Manufacturer

Rhea-AI Summary

Full Circle Lithium (FCL) has achieved a major commercial milestone by securing its first sales of the FCL-X® fire-extinguishing agent to a global electric vehicle (EV) manufacturer. This sale follows extensive testing, including trials at the EV OEM's Georgia plant and independent safety labs. The FCL-X® agent, specifically designed for lithium-ion battery fires, demonstrated impressive efficiency and reduced hazardous smoke during testing.

FCL plans to target additional EV manufacturers, over 27,000 fire and rescue departments in the USA, and other commercial and industrial sectors. The company's strategic location in Georgia positions it well for growth in the electric mobility industry. CEO Carlos Vicens emphasizes the importance of addressing lithium-ion fire risks in the rapidly growing lithium battery industry. Further product demonstrations with potential customers are planned.

Positive

• Secured first sales of FCL-X® to a global EV manufacturer.
• Successful testing at the EV OEM's plant and independent safety labs.
• Targeting additional EV manufacturers and over 27,000 fire and rescue departments in the USA.
• Strategic location in Georgia, a leading state in the electric mobility industry.
• Plans for further demonstrations with potential customers.

Negative

• No specific financial figures or revenue projections provided.
• Initial sales to one EV OEM, indicating early stages of market penetration.
• Potential dependency on further successful testing and customer acquisition.

• FCL achieves an important commercial milestone with the first sales of its proprietary FCL-X® lithium-ion battery fire-extinguishing agent to a global EV OEM at its EV plant in the State of Georgia USA.
• Commercialization efforts are now underway to target other EV OEMs, 27,000+ fire and rescue departments in the USA as well as other commercial and industrial players.
• The State of Georgia has been at the forefront of the electric mobility industry in recent years and FCL's location in Georgia provides an ideal opportunity to further grow our business.
• To learn more about this lithium-ion fire extinguishing breakthrough, join Carlos Vicens, CEO of Full Circle Lithium at 3 PM EST Today – click here to register.

TORONTO, June 4, 2024 /PRNewswire/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium products manufacturer, reports that it has achieved a significant milestone by securing the first sales of its proprietary FCL-X® lithium-ion battery fire-extinguishing agent to a global electric vehicle original equipment manufacturer (EV OEM) customer for its EV plant in the state of Georgia. This accomplishment comes as FCL introduces its groundbreaking lithium fire-extinguishing product, FCL-X®, designed specifically for lithium-ion battery fires. This sales success resulted from on-site testing at the EV OEM's plant and months of extensive testing at an independent, accredited, and certified USA safety lab, after FCL's internal development and extensive testing of its FCL-X® agent.

Lithium-ion battery fires present significant health, safety, environmental, and business continuity risks.  Recognizing this, the EV OEM has been actively searching for and testing solutions to address these concerns as it prepares for the first EV production at its new plant in Georgia. The EV OEM was impressed by the speed and efficiency with which FCL-X® fully extinguished the battery fire quickly thus reducing hazardous smoke during testing.

This first customer sale of FCL-X® to a major EV OEM in Georgia validates FCL's fire-extinguishing agent's effectiveness and highlights the importance of addressing lithium-ion fire risks in the rapidly growing lithium battery industry. FCL-X®'s ability to extinguish fires provides a crucial safety measure for all parties in the lithium-ion battery supply chain including end-users. Local port authorities and local fire fighting personnel have participated in FCL-X® testing, and all confirmed the need for a battery-specific fire-extinguishing agent and were impressed with the efficacy of FCL-X®. Further demonstrations are being planned with other potential customers, including another regional port authority and first responders.

FCL-X® is FCL's proprietary fire-extinguishing agent is specifically designed for fighting lithium-ion battery fires in various applications including commercial, industrial, transportation residential settings, and for use by first responders.

Carlos Vicens, CEO remarked, "FCL will continue to provide FCL-X® to additional EV OEMs and other end-users to further establish itself as a leader in the field. The sale of FCL-X® to a major EV OEM in Georgia marks a significant milestone in FCL's journey to commercialize an effective lithium-ion battery fire-extinguishing agent in a safe and environmentally friendly manner".

Tom Currin, COO of FCL commented, "We are confident that our FCL-X® agent will provide this OEM with enhanced fire safety measures and contribute to the overall safety of their EV production process. FCL remains committed to advancing lithium battery fire-extinguishing technology and continuing to provide safe and environmentally friendly solutions to address the evolving needs of the lithium battery-related industries".

Join Carlos Vicens, CEO of Full Circle Lithium for a LIVE Virtual Event

Learn more about this breakthrough in extinguishing lithium-ion battery fires with our newly branded FCL-X®.  Another big milestone for the FCLI team. A live interactive Q&A session will follow.

Date and time:
Tuesday, June 4^th at 3 pm ET / 12 pm PT 

Click here to register for the event >

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 additional commercialization related to the battery fire extinguishing agent which is at an early stage of development and 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 this fire-extinguishing agent and related inventions and processes, the ability of FCL, a start-up venture, to successfully commercialize its fire-extinguishing agent including ramping-up production of the agent to meet potential demand, continue raising capital, upgrading and refurbishing its plant, and sourcing feedstock for its 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.

FAQ

What milestone did Full Circle Lithium achieve with FCL-X®?

Full Circle Lithium secured its first sales of the FCL-X® fire-extinguishing agent to a global EV manufacturer.

Who is the first customer for FCL-X®?

A global electric vehicle manufacturer with a plant in Georgia, USA.

What is FCL-X® designed for?

FCL-X® is designed specifically for extinguishing lithium-ion battery fires.

What testing did FCL-X® undergo?

FCL-X® underwent extensive testing at the EV OEM's plant and independent, accredited safety labs in the USA.

What are Full Circle Lithium's future plans for FCL-X®?

Full Circle Lithium plans to target additional EV manufacturers, fire and rescue departments, and other commercial and industrial sectors.