SURREY, British Columbia, May 25, 2023 (GLOBE NEWSWIRE) — RecycLiCo Battery Materials Inc. (“RecycLiCo” or “Company”), a battery materials company that focuses on developing novel and environmentally friendly lithium-ion battery recycling and upcycling technologies, is pleased to announce the appointment of Dr. Yi Hyon Paik to its esteemed advisory board. Dr. Paik, a renowned industry expert, brings a wealth of knowledge and experience in multinational companies, the electronic materials industry, and the energy storage sector.
With a distinguished career spanning several decades, Dr. Paik has held significant leadership positions in renowned organizations. He currently serves as a Senior Advisor at Ace Equity Partners, a position he has held since 2020. Previously, he was President and Chief Strategy Officer of Samsung SDI Company, a publicly listed South Korean producer of lithium-ion batteries and electronic materials, where he oversaw various business units and played a pivotal role in driving strategic initiatives. Dr. Paik’s tenure at Samsung Cheil Industries also saw him serving as Executive Vice President and Head of the Electronic Materials Business, where he achieved remarkable revenue growth and spearheaded successful portfolio management initiatives. Dr. Paik also worked at The Dow Chemical Company and Rohm and Haas as Business Group Vice Presidents and President of Electronic Materials Business.
Throughout his career, Dr. Paik has demonstrated his expertise in strategic planning, global business operations, and technological innovation. He has played a key role in numerous mergers and acquisitions, driving the expansion of businesses into new profitable segments. Notably, Dr. Paik served as a board member of Versum Materials, Inc., contributing to its successful acquisition by Merck KGaA in a landmark $5.8 billion transaction.
Dr. Paik’s academic background is equally impressive. He holds a Ph.D. in Chemistry from the University of Pittsburgh, a Master of Science degree in Chemistry from Seoul National University and pursued postdoctoral research at Columbia University. His educational journey has instilled a deep technical understanding, enabling him to provide valuable insights at the intersection of science and business.
“We are thrilled to welcome Dr. Yi Hyon Paik to our advisory board,” said Zarko Meseldzija, CEO at RecycLiCo Battery Materials. “His vast leadership experience, global business acumen, and expertise in electronic materials and energy storage will undoubtedly enhance our strategic decision-making processes. Dr. Paik’s unique insights will play a crucial role in shaping our future growth and positioning us as an industry leader.”
Dr. Paik’s appointment to the advisory board reinforces RecycLiCo’s commitment to fostering innovation and driving excellence in the battery recycling industry. His extensive network in Korea and Japan, as well as his in-depth knowledge of the strengths and weaknesses of both business systems and cultures, will prove invaluable in advancing the company’s global initiatives.
The Company has granted Dr. Paik 600,000 incentive stock options with an exercise term of five years from today’s date and an exercise price of $0.35/share.
About RecycLiCo Battery Materials
RecycLiCo Battery Materials Inc. is a battery materials company focused on recycling and upcycling lithium-ion battery waste. With minimal processing steps and up to 100% extraction of lithium, cobalt, nickel, and manganese, the patented, closed-loop hydrometallurgical process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-ion batteries.
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Neither the 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. This news release may contain “forward-looking statements”, which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward–looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
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