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Highlights
- EVSX Corp. completes installation of a state-of-the-art multi-chemistry waste battery processing line in Thorold, Ontario.
- Processing line is now undergoing final testing before full commissioning, with a capacity to process 10,000 tonnes annually.
- Additional Environmental Compliance Approval (ECA) submission filed to expand battery chemistries processed.
- Secures $356,000 in Convertible Debenture financing to fund further developments.
St-Georges Eco-Mining Corp. is pleased to announce that its wholly-owned subsidiary, EVSX Corp., has successfully completed the installation of its multi-chemistry waste battery processing line at the Company’s facility located in Thorold, Ontario. This state-of-the-art processing line is now in the final stages of testing prior to full commissioning and is set to begin processing waste batteries at a significant scale starting in January 2025.
The newly installed line has a capacity to process 10,000 tonnes of waste batteries annually and is designed to handle virtually any type of battery chemistry. This development marks a major milestone for EVSX Corp., as it aims to play a pivotal role in the rapidly growing battery recycling market. The processing line was initially fully commissioned for testing under the supervision of WSP Group PLC, prior to its shipment to Canada.
Final Testing and Full Commissioning
EVSX’s engineering team is currently working closely with manufacturing engineers to ensure a smooth start-up and optimize the performance of the processing line. The team is conducting final testing to ensure that all systems are operating at peak efficiency. Once fully commissioned, the line will be capable of processing a wide range of battery types, contributing to the growing demand for responsible and sustainable battery recycling.
Expansion of Battery Chemistry Processing Capabilities
In addition to the completion of the installation, EVSX has filed an additional Environmental Compliance Approval ("ECA") submission to the Ministry of the Environment, Conservation and Parks. This submission is intended to expand the range of battery chemistries that the processing line can handle, making it even more adaptable to market needs. The submission has been granted Priority Review status, which is expected to accelerate the approval process and allow the Company to expand its capabilities even further.
“We are pleased to announce that the installation of our multi-chemistry line is now complete and undergoing final testing prior to full commissioning. EVSX holds an existing ECA which permits us to sort and process various battery chemistries under our battery supply agreement, so it's important to note that the new ECA submission to expand battery chemistries will not impact operational startup expected in January 2025,” commented Mr. Ian C. Peres, Chief Executive Officer of EVSX.
Partnership with Call2Recycle
EVSX holds a three-year battery supply agreement with Call2Recycle, a not-for-profit organization responsible for the collection of batteries across Canada and the United States. This agreement provides EVSX with a steady supply of waste batteries for processing, and the Company is currently in advanced discussions to secure additional battery chemistries and expand the volume of materials processed in 2025.
Eco-Friendly and Sustainable Recycling Process
The EVSX multi-chemistry line is one of three highly automated lines developed to process waste batteries and recover valuable materials, including battery metals (black mass), steel, aluminum, paper, plastics, and other recyclables. Importantly, the process is designed without the use of acids or similar chemicals, making it environmentally friendly. The end products are sold downstream for further processing into fertilizers, feedstock, and other useful materials, ensuring that no waste ends up in landfills.
Convertible Debenture Financing
EVSX is also pleased to announce the completion of a Convertible Debenture ("Debenture") financing, securing gross proceeds of $356,000. Each debenture has a one-year maturity and a face value of $1,000, with an annual interest rate of 25% capitalized in advance. Debenture holders will have the option to convert their debentures into common shares of St-Georges Eco-Mining Corp. at a conversion price of $0.0625 per share. The debentures can be redeemed by EVSX, at its discretion, no earlier than 90 days after the closing, with a five-day written notice.
The proceeds from this financing will be used to support the continued installation and optimization of the processing line, as well as for general working capital purposes.
About St-Georges Eco-Mining Corp.
St-Georges Eco-Mining Corp. is a Canadian mining and recycling company committed to advancing the extraction of valuable metals from natural resources and waste streams, with a focus on creating environmentally sustainable and economically viable solutions. The Company is actively involved in the development of technologies to recover and recycle battery metals, positioning itself as a key player in the green energy transition.
