Vancouver, British Columbia (FSCwire) – ALIX RESOURCES CORP. (“Alix” or the “Company”) (AIX-TSX:V) (37N–FRANKFURT) is pleased to announce that it has formed a new subsidiary, Upcycle Metals Corp. (“Upcycle”). The goal of Upcycle is to establish a plan of action towards the development of a global recycling operation aimed at retrieving battery metals and materials used in Lithium-ion batteries.
A typical Lithium-ion battery contains about 27.5% LiCoO2, 24.5% steel/Ni, 14.5% Cu/Al, 16% carbon, 3.5% electrolyte and 14% polymer. The goal of the new venture will be to acquire spent Lithium-ion batteries and then extract from them the lithium, cobalt, manganese, aluminum and copper for reuse, utilizing an existing technology. Additionally this activity will provide an audit trail for recycled cobalt, which is currently categorized as a Conflict Mineral.