FCL generated $384,749 in Q1 revenues from its initial quarter of FCL-X™ marketing and sales in North America
Asia distribution MOU with ITOCHU Corporation progressing well
Retail launch of the FCL-X™ extinguishers expected in Q3 2025
In multiple tests and live demonstrations, FCL-X™ consistently extinguishes lithium-ion batteries experiencing full thermal runaway quickly, without reignition, and safely, offering a significant advantage over all competing products
FCL-X™ will be demonstrated on a live EV burn at the FDIC Conference in Indianapolis, April 7-12 – North America's largest fire and rescue conference, with over 36,000 fire safety professionals in attendance
TORONTO, April 7, 2025 /PRNewswire/ - Full Circle Lithium Corp. ("FCL" or the "Company") (TSXV: FCLI) (OTCQB: FCLIF), a USA-based manufacturer of lithium-ion battery specialty firefighting agent, FCL-X™, is pleased to announce its Q1 revenue results, outlook, and strategic initiatives updates.
Q1 Revenue Performance & Outlook:
Q1 (November - January) Revenue: In only its first quarter of marketing and sales, FCL generated US$384,749 in revenue from its groundbreaking FCL-X™ product lines, driven by strong customer demand and the successful implementation of strategic initiatives with distribution partners AEST and US Fire Pump.
Outlook: Based on the current outlook and quotes provided to potential end-users, we see revenues from upcoming quarters surpassing Q1, reflecting continued growth and market expansion. This includes growing interest from new distributors. The book-to-bill ratio remains strong, with substantial purchase proposals currently in the market pending final approvals.
Key Strategic Initiatives:
ITOCHU Corporation Asia MOU – Work is progressing well as FCL explores the possibility of granting ITOCHU exclusive licensing and distribution rights for specific FCL-X™ products in Japan and Korea. This collaboration may also involve the development of an optimal manufacturing plant for FCL-X™ products in Asia, as well as the potential establishment of a joint venture. The scope of the agreement could extend to additional Asian markets beyond Japan and Korea.
Retail Extinguisher Launch – Due to the global lack of effective extinguishing agents for lithium-ion battery fires, FCL has received significant interest from several major North American retailers to offer smaller, consumer-friendly versions of its FCL-X™ extinguishers. These extinguishers will be designed to extinguish fires associated with lithium battery appliances, such as smartphones, computers, e-scooters, and e-bikes, which pose an increasing fire risk worldwide. R&D and supply chain logistics are being completed, with the first retail launches expected by the end of Q3 2025.
Signing of New North American Distributors – Our sales and operating team have been establishing relationships with new and potential distributors in North America. The expansion of our distributor network will help drive continued revenue growth and broaden our market reach.
Carlos Vicens, CEO, commented, "Our revenue performance in the first quarter of sales has been exceptional, and we expect continued growth in US FCL-X™ product sales as awareness increases within the first responder community, recognizing our product as the leading solution for lithium-ion battery fires. The potential partnership with ITOCHU Corporation presents a significant distribution opportunity, potentially doubling the market for FCL-X™ products. If executed successfully, this could mark a major milestone for us later this year. I'm incredibly proud of our team's achievements over the past year and look forward to launching retail FCL-X™ products in Q3, as well as expanding our distributor network in the coming months."
Annual General Meeting Results
FCL is pleased to announce the results of its Annual General and Special Meeting of Shareholders held on March 31, 2025. Shareholders elected all five management nominees to the board of directors of the Company for the ensuing year. As such, the board of directors of the Company remains: Paul Fornazzari (Chairman), Carlos Vicens, Franco Mignacco, Mike Cosic, Orlee Wertheim. Shareholders also voted in favor of resolutions re-appointing the auditors of the Company, re-approving the incentive stock option plan of the Company for the ensuing year and approving an amendment to the Company's By-Law No. 1. For more information, please refer to the Company's management information circular, available on the Company's SEDAR+ profile at www.sedarplus.ca.
About Full Circle Lithium Corp.
FCL has developed an innovative lithium-ion battery fire-extinguishing agent named FCL-X™ to address the increasing number of difficult-to-extinguish and hazardous lithium-ion battery-based fires. FCL-X™ is a non-hazardous fire extinguishing agent specifically designed to combat lithium-ion cell and/or battery fires. It is a water-based solution that neutralizes complex chemical reactions, creating a protective layer on the surface of materials containing elemental lithium. FCL-X™ has been tested by 3rd party laboratories as well as on live fires on both small and industrial scale fires and has proved that it mitigates the lithium oxidation reaction, limiting hydrogen generation and stabilizing decomposing electrolytes. FCL-X™ is easy to use, with fast heat dissipation, minimal clean-up, and non-hazardous properties, making it a sustainable choice. FCL has gathered a leading technical team with over 100 years of combined lithium, fire, and safety training and firefighting experience. Additional information regarding FCL is available on SEDAR at www.sedar.com under the Company's profile and on its website www.fullcirclelithium.com.
For further information:
Full Circle Lithium Corp. Carlos Vicens - CEO & Director ir@fullcirclelithium.com +1.416.977.3832
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.
