TORONTO, ON / ACCESSWIRE / June 23, 2022 / Sparta Group (TSXV:SAY) (the "Corporation", the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") is excited to announce that its electronic waste recycling division, ERS International ("ERS") is collaborating with the University of Ottawa (uOttawa) on a research project that is looking at recovery of lithium, as well as other metals and materials from spent Lithium-ion ("Li-ion") batteries.
Product developers have applied various configurations of Li-ion batteries over the last decade; however, the world is still in the early stages of finding efficient ways to upcycle and recycle mined lithium, as well as other precious metals. Scientists at ERS believe finding the right practices could prove lucrative.
To date, the recycling of lithium batteries is described as difficult for several reasons, including the tendency for this type of battery to explode, the need for manual disassembly, as well as the potential for negative environmental consequences. However, with lithium batteries being used in everything from portable electronics, electric tools, and medical equipment to military equipment, aerospace, and electric cars, the need for safe, efficient metals recovery is huge. The ERS management team often work out of their specialized Research and Development (R&D) laboratory at their recycling facility in East Toronto. They have said that they are ultimately looking for an environment-friendly method of recycling lithium batteries that is cost effective, as opposed to current systems that are cost prohibitive and require a lot of acid leaching, as well as incineration. ERS's lab leaders will be directly collaborating with uOttawa Lab professionals.
According to metals experts, recycled metals; especially lithium and cobalt, are attractive to manufacturers since there are limited sources that produce these two metals. The uOttawa/ERS research project is expected to create an economically efficient and environmentally sustainable method for recovery of metals from used lithium batteries.
The U.S based research and analysis group, Frontier reports that more than 70 percent of the world's cobalt is produced in the Democratic Republic of Congo and based on mines in operation, as well as estimated demand, supply won't be able to keep up with demand by 2030 or sooner. Meanwhile, many lithium extraction projects require significant capital prior to actual production, thus slowing extraction down and creating the shortage we are experiencing today.
"Until now, researchers and manufacturers have focused more on lowering the cost of lithium batteries extraction and increasing the longevity, as well as charge capacity, not on industrial scale upcycling or recycling. As an environmental company we feel we have both a responsibility and an opportunity here to make lithium, cobalt, and other metals recovery uncomplicated. We have great faith in our partners at the University of Ottawa and wouldn't be involved in this collaboration if we didn't think it could make a big difference in the way lithium batteries are handled at the end of their life," said Sparta President, John O'Bireck
The research collaboration is made possible through the Ontario Centre for Innovation. It's part of the "Voucher Program for Innovation and Productivity." OCI, VIP is Ontario government financial support to for-profit companies collaborating with an academic partner to develop new products and/or services. To be eligible for OCI, VIP, you must prove that you are attempting to solve a critical industry problem.
Sparta Group (a.k.a. Sparta Capital Ltd.) is a technology-based company that owns or holds a controlling interest in a network of independent businesses that supply energy saving technologies designed to reduce energy inefficiencies, achieve reduced emissions, and increase operating efficiencies in various industries. In response to the COVID-19 crisis, Sparta has also expanded its scope to help facilitate supply of necessary materials while assisting talented inventors who are looking to introduce innovative technical solutions that will bring greater normalcy to the post COVID-19 world. Sparta's network of independent businesses provides a wide range of specialized energy capturing, converting, optimizing, and related services to the commercial sector. Sparta provides capital, technical and engineering expertise, legal support, financial and accounting knowledge, strategic planning, and other shared services to its independent businesses.
Sparta is a publicly traded company listed on the TSX Venture Exchange Inc. under the symbol "SAY" (TSX.V: SAY). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.
For more information contact:
John O'Bireck, President & CTO
Email: [email protected]
Telephone: (905) 751-8004
This above may contain "forward-looking information" within the meaning of applicable securities laws. When used in this address, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this information and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release).
SOURCE: Sparta Group