- FCL has signed its first master distribution agreement to market FCL-X™ within the USA with AEST Fire and Safety, a USA based fire safety products distributor
- AEST has conducted extensive research and testing to validate FCL-X™ahead of its marketing and sales efforts
TORONTO, Oct. 31, 2024 /PRNewswire/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based lithium products manufacturer, announces the signing if an initial distribution agreement with AEST Fire and Safety ("AEST"), marking a significant milestone in the Company's efforts to commercialize its proprietary and innovative lithium-ion battery fire fighting agent - FCL-X™. This distribution arrangement will see AEST market FCL-X™ across residential, industrial, and commercial settings and most importantly into the first responder fire safety industry.
In the United States, there are over 27,000 fire departments responding to emergencies from more than 58,000 fire stations. Between 2017 and 2022, there were over 25,000 fire incidents related to lithium-ion batteries, with numbers rising each year. This presents a significant challenge for both fire departments and the public, particularly in urban areas where the use of electric vehicles, e-bikes, and e-scooters has surged, and traditional fire suppression agents have proven inadequate. Globally, incidents of lithium-ion battery-related fires are increasing, resulting in both physical damage and personal loss. FCL believes that its FCL-X™ lithium-ion battery fire extinguishing agent is ideally suited to not only reduce the hazards associated with these fires but also to extinguish them completely, aiding firefighters, first responders, and the public in minimizing their impact on human lives and property.
Renowned for its proven track record in fire safety solutions, AEST has conducted extensive research and testing to satisfy itself that FCL-X™ is best in class for these types of fires. This collaboration will leverage AEST's expertise, resources and established relationships with retailers and wholesalers, ensuring that FCL-X™ is broadly marketed to certain segments of the US market.
"Recognizing the potential dangers of lithium-ion battery fires, finding an effective extinguishing agent has been an urgent priority for us," said David Laviner, Founder & President of AEST. "Incidents involving lithium-ion battery fires can have devastating consequences, and there has been a lack of effective solutions in the market specifically designed to combat these fires. The FCL-X™ fire suppression agent represents a significant advancement in our ability to protect lives and property."
Carlos Vicens, CEO and Director of FCL stated "AEST's reputation and commitment to excellence align perfectly with our mission to protect against potential fire hazards associated with lithium-ion batteries. The FCL-X™ fire suppression agent is designed to mitigate the risks associated with lithium-ion battery fires, offering advanced technology tailored for efficient response. With this partnership, FCL aims to establish a robust US distribution network that ensures accessibility to this critical safety solution, ultimately safeguarding lives and property."
The master distribution agreement with AEST primarily emphasizes the FCL-X™ Extinguishers and FCL-X™ PROproduct lines, granting AEST certain exclusive distribution rights in the USA for a defined period. The Company retains the right to market all its products globally and may pursue additional distribution agreements worldwide and, in the USA, provided these do not conflict with the AEST agreement.
About AEST Fire and Safety
AEST Fire and Safety provide professional equipment sales and services to the fire and rescue industry and has an extensive distribution network that covers key markets and regions in the USA. AEST has an established relationship with retailers and wholesalers and is a master distributor for key brands such as Morning Pride, Genesis Rescue Tools, Draeger, Artic Compressors, and BioEx Foam. With a +15-year history of successful partnerships and a reputation for reliability, AEST has consistently demonstrated the ability to deliver results. AEST utilizes state-of-the-art logistics and technology solutions to streamline operations in the fire extinguishing agent supply chain industry.
About Full Circle Lithium Corp.
FCL has developed an innovative lithium-ion battery fire-extinguishing agent - FCL-X™, to address the increasing number of difficult to extinguish and hazardous lithium-ion battery-based fires. A PCT patent application has been filed by the Company to protect its FCL-X™ invention. Additional information regarding FCL is available on SEDAR at www.sedar.com under the Company's profile and on its website www.fullcirclelithium.com.
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements within the meaning of securities legislation in the Canada and which are based on the expectations, estimates and projections of management of the parties as of the date of this news release unless otherwise stated. Forward-looking statements are generally identifiable by use of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "could", "believe", "plans", "intends" or the negative of these words or other variations on these words or comparable terminology. More particularly, and without limitation, this news release contains forward-looking statements and information concerning expectations on the effectiveness of the marketing and sales of FCL-X™ through distribution agreements, the viability, effectiveness, safety and additional commercialization related to FCL-X™ which is at an early stage of commercialization (which is very difficult for a start-up venture like FCL as there are much larger and better capitalized established companies that can potentially quickly enter the lithium-ion battery fire-fighting market and create strong competition against FCL), on receiving patent protection for FCL-X™ and related inventions and processes, the ability of FCL, a start-up venture, to successfully commercialize its FCL-X™ including ramping-up production of the agent to meet potential demand, continue raising capital, upgrading and refurbishing its plant, and sourcing feedstock for this and its other lines of business. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the uncertainties and risk factors related to the technical elements in a processing and refining business, loss of key technical and other staff, lithium price fluctuations, the battery fire-extinguishing agent functioning as expected to meet safety requirements and fire-fighting related government regulations and potential client product specifications, and applicable environmental requirements and issues – see additional risks described in FCL's public filings. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. FCL disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law. Additionally, FCL undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of FCL, its financial or operating results or its securities.
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SOURCE Full Circle Lithium Corp.
