Altair International Corp. has announced a partnership with St-Georges Eco-Mining Corp. a Canadian public company engaged in the development of new Lithium extraction and battery recycling technologies.
On December 1, 2020 the two companies entered into a Binding agreement that would allow Altair access to St-Georgesā patent-pending Lithium processing technology for Altairās Nevada based Stonewall project and most importantly bring together the two companies to jointly develop a patentable industrial scale process for Electric Vehicle Lithium-ion battery (LIB) recycling.
As the global Electric Vehicle (EV) market heats up over the coming decade, the demand for battery metals is expected to outpace current production.
Even with increased energy density and charge cycles, Lithium based batteries for EVs, laptops, phones and other mobile devices will create cumulative waste challenges both in the environmental footprint of production and end-of-life LIB disposal.
Altair and St-Georges recognize that new optimized recycling technologies will offer valuable solutions to both a waste-management and battery metal supply. Selective, economic and responsible metal extraction of spent LIBs will be an integral part of the multi-billion dollar green economy and play a crucial part in the future of EV dominance of the automotive sector.
At present our two companies are working diligently to complete a long-form partnership agreement before the end of the month. As well, St-Georges has named Paul Pelosi, Jr, a member of Altairās Advisory Board, to the position of President of EVSX Corp, the subsidiary that St-Georges has dedicated to the development of our recycling technology program.
Mr, Pelosi has many years of experience contributing to the sustainability of the environment through his service as President of the Environment Commission in San Francisco and contributions at various green technology companies.
Paul Pelosiās strong affinity and familiarity with sustainable investments, which incorporate environmental, social and governance criteria will play a critical role in assisting the role out of our Lithium mineral processing and its deployment.
Altair has the exclusive option to acquire 49.99% of the common shares of EVSX Corp by issuing shares to St-Georges and making certain milestones payments to co-fund development.
Altair Provides Update on Lithium Extraction and Battery Recycling Technology, Pittsburgh January 26, 2021
