Full Circle Lithium and Japan’s ITOCHU Corporation Sign MOU For FCL-X™ Commercialization in Asia
- Fortune 500 global company ITOCHU to partner with FCL for the potential distribution of FCL-X™ in Japan and Korea
- By adding the Asian market with ITOCHU it potentially doubles FCL’s addressable market for FCL-X™
- FCL-X™ is being rapidly adopted by USA firefighters to extinguish EV, industrial, and other dangerous and toxic lithium-ion battery related fires because it is efficient, effective, non-hazardous and environmentally friendly
TORONTO, March 18, 2025 /PRNewswire/ – Full Circle Lithium Corp. (“FCL” or the “Company”) (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium-ion specialty firefighting agent manufacturer, is pleased to announce that FCL and ITOCHU Corporation (“ITOCHU”) have signed a Memorandum of Understanding (“MoU”) to collaborate in bringing FCL-X™ to Japanese and Korean markets initially.
ITOCHU is one of Japan’s largest companies with an extensive portfolio which includes sales and marketing of lithium-ion battery material, production equipment, and applications such as energy storage systems (ESS) and energy management software and services. Given its battery-related business, ITOCHU approached FCL as it is acutely aware of the need to provide global and more specifically the Asian battery market with an effective, efficient, non-hazardous, and environmentally friendly fire extinguishing battery fire solution.
Carlos Vicens the CEO and Founder of FCL, says:
FCL is extremely pleased to welcome ITOCHU as a partner to help open up the Asia market for our FCL-X™ portfolio of products.
“ITOCHU’s local knowledge as well as its portfolio of LiB products and services is very important for us. Ensuring a diversification of partners and end-users locally, regionally, and globally, will allow us to quickly put this important tool in the hands of those that may need it to fight dangerous battery fires. With ITOCHU we add another partner in our rapidly expanding ecosystem towards our ambition of providing one of the world’s most effective and efficient lithium-ion battery extinguishing agent in Asia,”
The MoU provides for both FCL and ITOCHU, an exclusive time to negotiate a final binding agreement after certain customary due-diligence items are confirmed during the initial phase of the MoU. FCL may provide exclusive license and/or distribution rights for a specific term to ITOCHU to market and distribute certain forms of FCL-X™ and potentially establish an optimal manufacturing system of FCL-X™ products in the region, which may include the establishment of a jointly owned special purpose vehicle. The agreement may be expanded into additional Asian countries beyond Japan and Korea.
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Full Circle Lithium and Japan’s ITOCHU Corporation Sign MOU For FCL-X™ Commercialization in Asia, source
