Dr. Jonathan Gluckman reports

SIXTH WAVE SIGNS STRATEGIC ALLIANCE AGREEMENT WITH ZERO CARBON TECHNOLOGIES LIMITED FOR BLACK MASS EXTRACTION

On Sept. 14, 2023, Sixth Wave Innovations Inc. signed a strategic alliance agreement with Zero Carbon Technologies Ltd.

Under the terms of the agreement, Sixth Wave will perform business management consulting services for Zero Carbon. These services shall include evaluation of battery recycling extraction, and battery metal separation and recovery, program management for implementation of processing plant plans, laboratory analysis of samples, and development of process flow sheets based on best practices and technology available for specific applications. Any engagement to perform Sixth Wave services shall be on such terms and conditions as Zero Carbon may approve in its sole discretion.

As of this press release, Sixth Wave has delivered a proposal for an advanced lithium ion battery recycling process flow and development program. The input material for the process, referred to as black mass, contains a mixture of critical battery metals, including nickel, cobalt and lithium, but also significant amounts of graphite and impurities. The proposal submitted will allow efficient separation and recovery of the metals and graphite, and allow for processing these back to battery-grade material by Zero Carbon. The proposed work will be covered by a licensing agreement currently under negotiation that provides funding to accelerate the development of a pilot plant and ultimately a production plant that will be at its first recycling location in Spain. Sixth Wave will continue to generate revenue past the development and production facility launch by way of a royalty based on the finished goods produced by the recycling process. Zero Carbon intends to expand its battery recycling facilities into multiple countries.

"Sixth Wave is proud to support Zero Carbon in its efforts to reduce the impact of electrification on the environment. With demand growing faster for critical metals than mining can support, recycling of these metals is paramount to ensuring supply and reducing the overall impact on the environment," said Dr. Gluckman, president and chief executive officer of Sixth Wave.

Zero Carbon is a business entity incorporated in Great Britain and Wales in the year 2021 with plans to build and operate a battery recycling plant in La Mancha province, Spain, which will provide circular critical metals recovery from EV (electric vehicle) lithium ion and lead batteries.

Zero Carbon low-CO2 (carbon dioxide) battery recycling solution makes it possible to recycle over 80 per cent of the battery, and 95 per cent of the valuable metals contained in the battery's black mass can be put back into circulation. The company has a significant opportunity due to a current critical metal shortage in current markets, and is revolutionizing the lead- and lithium-ion-battery value chain for electric vehicles and industrial-use batteries.

Chris Farnworth, chief executive officer of Zero Carbon, said, "We are very pleased to be working with Sixth Wave to jointly develop EV battery critical mineral extraction for black mass, elements include Li [lithium], graphite, Mn [manganese] and Co [cobalt]."

About Sixth Wave Innovations Inc.

Sixth Wave is a development-stage nanotechnology company with patented technologies that focus on extraction and detection of target substances at the molecular level using highly specialized molecularly imprinted polymers (MIPs). The company is in the process of commercializing its Affinity cannabinoid purification system, as well as IXOS, a line of extraction polymers for the gold mining and lithium spodumene industries.

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