EVSX Starts Installation of its Multi-Chemistry Battery Processing Line
Rhea-AI Summary
EVSX Corp, a subsidiary of St-Georges Eco-Mining, has begun installing a state-of-the-art battery recycling line at its Thorold, Ontario plant. The highly automated multi-chemistry processing line has a 10,000-ton annual capacity and a 93% recycling efficiency rate. The facility can process various battery types, including alkaline, lithium-ion, and EV batteries. EVSX holds an Environmental Compliance Approval permit and has secured a three-year battery supply agreement with Call2Recycle. The plant's strategic location serves North America's largest automotive cluster, including Ford, GM, and Stellantis.
Positive
- 93% recycling efficiency rate demonstrates superior technology performance
- 10,000-ton annual processing capacity indicates significant operational scale
- Secured Environmental Compliance Approval permit for battery processing
- Established three-year battery supply agreement with Call2Recycle
- Secured financing for line installation and operations
- Strategic location near major automotive manufacturers
Negative
- Cancellation of second tranche of $0.06 per unit private placement financing
- Share dilution through $110,000 share-for-debt settlement
MONTRÉAL, QC / ACCESSWIRE / November 28, 2024 / St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1), is pleased to announce that EVSX Corp, a wholly-owned subsidiary, commenced the installation of one of its three state-of-the-art battery recycling lines at its plant located in Thorold, Ontario.
EVSX's multi-chemistry processing lines are highly automated, and minimal labor is required to efficiently recover critical battery metal elements, plastics, aluminum, steel, and other materials used in battery manufacturing.
The technology boasts an industry-leading recycling efficiency rate of over
This line, with an annual capacity of 10,000 tons per year, was previously fully commissioned for testing under the supervision of WSP Group PLC. The line can process any type of battery, such as alkaline, zinc-carbon, nickel-cadmium, nickel-cobalt-manganese, lithium-iron-phosphate (LiFePO4), and electric vehicle batteries. It can also process irregular materials and batteries deemed too small or resource-intensive for most operators. Functionality includes the ability to run varying batch sizes to support fluctuations in battery volume and type, including rapid shutdowns and restarts without retooling.
EVSX holds an Environmental Compliance Approval ("ECA") permit, issued in May 2024, allowing it to sort and process alkaline batteries in Ontario. EVSX also entered into a three-year battery supply processing agreement with Call2Recycle in 2024.
"(…) This 10,000 ton-per-year line is being installed with a high level of confidence given it was previously fully commissioned at the manufacturer, under the supervision of our independent engineers, WSP Group PLC. The plant is centrally located within a large urban setting and the largest automotive cluster in North America, including Ford, General Motors, and Stellantis (formerly Fiat Chrysler Automobiles). (…) This highly automated line allows us to expand battery chemistry processing, including lithium primary and lithium-ion batteries. (…)," said Ian C. Peres, Chief Executive Officer of EVSX.
EVSX has secured financing to support the battery processing line installation and the start of operations.
St-Georges announces the cancellation of the second tranche of its
The Board of Directors of St-Georges has agreed to compensate directors with annual stock options in lieu of cash payments, effective immediately.
Mr. Mark Billings has stepped down from his position as Chairman but remains an independent director. The Chairman position will remain vacant for the time being.
St-Georges further announces the issuance of 5,500,000 incentive stock options to directors, management, and consultants at an exercise price of
ON BEHALF OF THE BOARD OF DIRECTORS,
Neha Edah Tally
Corporate Secretary
About EVSX
EVSX holds three highly automated, multi-chemistry processing lines that efficiently recovers critical battery metal elements, plastics, aluminum, steel, and other materials used in battery manufacturing, with an annual capacity of 10,000 tons per year and an industry-leading recycling efficiency rate of over
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies and holds a diversified portfolio of assets and patent-pending Intellectual Property within several highly prospective subsidiaries, including: EVSX, a leading North American advanced battery processing initiative; St-Georges Metallurgy, with metallurgical R&D and related IP, including processing and recovering high-grade lithium from spodumene; Iceland Resources, with high-grade gold, silver exploration projects including the flagship Thor gold asset; H2SX, developing technology to convert methane into solid carbon and turquoise hydrogen; and Québec exploration projects including the Manicouagan and Julie Nickel & Palladium (CSM) Projects on Québec's North Shore, and Notre Dame Niobium Project in Lac St Jean.
Visit the Company website at www.stgeorgesecomining.com
For Regulatory or Media Inquiries Only: Frank Dumas, 514.295.9878
For all other inquiries: public@stgeorgesecomining.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, general business, economic, competitive, political, and social uncertainties, and uncertain capital markets. Readers are cautioned that actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
SOURCE: St-Georges Eco-Mining Corp.
View the original press release on accesswire.com
FAQ
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