Full Circle Lithium Files PCT and US Patent Application for FCL-X™ Lithium-ion Battery Fire Suppression Agent.
Full Circle Lithium Corp. (“FCL” or the “Company”) (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium products manufacturer, reports that it has achieved a significant milestone by filing a Patent Cooperation Treaty (“PCT”) and US Patent Application for its proprietary FCL-X™ lithium-ion battery fire-extinguishing agent. The PTC application allows FCL to seek protection for FCL-X™ in most major markets throughout the world. The U.S. non-provisional patent application and any national-stage patent applications based on the PCT application, if granted, have the potential to obtain 20 years of patent protection.
Carlos Vicens, CEO, Director & Co-founder, commented:
We believe the patent application process we have initiated is an important step in protecting FCL-X™ as we advance the commercialization efforts in the USA and, thereafter, internationally.
“We announced our first sales to a major EV manufacturer two weeks ago and the interest level has been significant. The addressable market is large, and our sales and operating staff will be extremely busy this summer with FCL-X™ demonstrations and ramping up production.”
It is becoming more evident to the world that lithium-ion battery fires present significant health, safety, environmental, and business continuity risks for the entire lithium supply chain, and that fire-fighting agents like FCL-X™ represent an important and required addition to the safe growth of the entire battery driven economy.
One of the developers of FCL-X™ is Thomas Currin, COO and co-founder of FCL, whose prior experience includes co-inventor of the Class D copper powder fire extinguisher and co-author of the US National Fire Protection Association’s 485 Standard for the Storage, Handling, Processing and Use of Lithium Metal. FCL-X™ is FCL’s proprietary fire-extinguishing agent specifically designed for fighting lithium-ion battery fires in various applications including commercial, industrial, transportation residential settings, and for use by first responders.
Thomas Currin, COO & Co-Founder, who further remarked:
Industry participants who have tested FCL-X™ have been impressed by the speed and efficiency by which FCL-X™ fully extinguished the battery fire, thus reducing hazardous smoke.
“The technology of FCL-X™ embodied in this patent application will allow us to proceed with our planned commercial efforts. We believe that the FCL-X™ if commercialized at scale, will provide a best-in-class, breakthrough product for lithium-ion battery fires that could save human lives as well as reduce property damage.”
In conjunction with the FCL-X™ commercialization efforts, advancing midstream recycling, and for general, administrative and corporate purposes, the Company is undertaking a best-efforts private placement (the “Offering”) of Units (each a “Unit”) at C$0.25 per Unit, for gross proceeds of up to C$1,000,000, subject to increase based upon demand. Each Unit is comprised of one common share in the capital of the Corporation (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable into one Share at $0.35 per Share for a period of 2 years from the completion of the Offering, expected to close on July 9, 2024, or earlier given strong insider lead orders and expressions of interest in the Offering. PowerOne Capital Markets is acting as the finder on the Offering.
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Full Circle Lithium Files PCT and US Patent Application for FCL-X™ Lithium-ion Battery Fire Suppression Agent. source
