Full Circle Lithium's Proprietary Lithium-ion Battery Fire Extinguishing Agent Proven Highly Effective in Third-Party Laboratory Testing

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Mar 25, 2024, 08:25 ET

FCL's proprietary lithium-ion battery fire extinguishing agent has been shown to be best-in-class by an independent US-based accredited third-party testing laboratory
The FCL fire extinguishing agent put out lithium-ion battery fires significantly faster and with less hazardous smoke than both water and a leading competitor

TORONTO, March 25, 2024 /PRNewswire/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium products manufacturer and recycler with a highly experienced technical team, is pleased to report on the latest third-party testing results of its lithium-ion battery fire fighting agent (the "FCL Agent").

An independent US-based accredited third-party laboratory conducted a series of tests utilizing different size lithium-ion batteries including a collection of 19 NMC 2800 mAh (milliampere-hour) battery cells, a 960 Wh (watt-hour) electric bike battery (made up of 48x18650 NMC cells), and, most recently an electric vehicle ("EV") size 57 kW (kilowatt-hour) battery. The third-party laboratory reported on the first two test results and will report on the EV size battery test after all internal analyses and comparisons are completed.

Uncontrollable lithium-ion battery fires are proving to be a growing critical risk and challenge worldwide given the continued growth of electric lithium-ion battery-powered devices as well as for e-mobility and energy storage systems. The purpose of the third-party testing was to compare and understand the effects of different extinguishing agents on secondary lithium-ion batteries undergoing thermal runaway. The testing protocol was developed by a third-party laboratory to replicate current industry standards for lithium-ion propagation testing as well as fire suppression certification testing outlined in UL 9540A 4th edition and UL 711 8th edition.

While all three agents (the FCL Agent, water, and the leading third-party fire-fighting agent (the "Third-Party Agent")) mitigated the initial fires, the FCL Agent was orders of magnitude faster to extinguish the fires with only one application applied and produced considerably less volume of smoke (which contain hazardous chemicals). Water alone was only able to put out the battery fires after several voluminous applications as the batteries reignited multiple times. This highlights FCL Agent's potential for rapid and effective lithium-ion battery fire control in real-world settings.

The EV-size battery fire testing was recently completed, and the third-party laboratory will provide its report once its analysis is completed. FCL's personnel observing the EV fire testing reported that the FCL Agent extinguished the fire quickly and safely, with limited hazardous smoke being released.

Carlos Vicens, founder and CEO, stated: "We are very excited by these results that have now validated and surpassed our internal initial views. The FCL Agent is proving to be fast-acting, safe, and effective on both small and large-scale lithium-ion battery fires. We also believe our FCL Agent has significant advantages in health/safety/environment concerns and costs when compared to other competing agents. We will now focus on having the FCL Agent UL rated for both retail and commercial use over the upcoming months as well as having broader discussions with third parties on potential market avenues."

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About Full Circle Lithium Corp.

Situated in the epicenter of the largest EV buildout in North America, FCL's fully permitted lithium carbonate processing plant in the state of Georgia, USA combined with a complement of seasoned lithium experts, makes FCL a unique processor and manufacturer of lithium compounds. 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. In addition to its lithium carbonate plant, FCL is focused on three complementary feedstock processing divisions: battery recycling from off-spec and end-of-life lithium-ion batteries, lithium mid-stream recycling from industrial and chemical feedstock, and lithium refinery from upstream feedstock. Following on the Company's mantra of "the home of lithium science", FCL has also developed, and filed a patent application for an innovative battery fire extinguishing agent, to address the increasing number of difficult to extinguish and hazardous lithium-based fires. Additional information regarding FCL is available on SEDAR at www.sedar.com under the Company's profile and its website at 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 commercialization related to FCL's battery fire extinguishing agent which is at an early stage of testing and development, on receiving patent protection for the agent and related inventions and processes, the ability of FCL, a start-up venture, to continue raising capital, upgrading and refurbishing its plant, and sourcing feedstock for its 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 company's 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.

SOURCE Full Circle Lithium Corp.