Mixed Hydroxide Precipitate Has High Nickel/Cobalt, Low Impurity Content and is expected to be first MHP offered in the United States
BEVERLY, Mass., Jan. 30, 2023 /PRNewswire/ -- Nth Cycle, an innovative metals refining company, announced today that it would offer a premium Mixed Hydroxide Precipitate (MHP) nickel intermediary product for nickel sulfate producers. Nth Cycle's MHP, produced from its patented electro-extraction processor, named "the Oyster," yields unprecedented purity with the highest concentration of Nickel Hydroxide and Cobalt Hydroxide available.
With overall EV sales expected to see a dramatic increase in the United States in 2023, and with some 20 new EV models expected to debut, demand for MHP has skyrocketed. However, most MHP has traditionally been produced in Indonesia with low concentrations of the essential elements Nickel and Cobalt, and inconsistent levels of purity. Most of the supply would also be ineligible for credit under the 2022 Inflation Reduction Act.
Until now, there has been no domestic production of MHP in the United States, putting the EV battery supply chain at considerable risk, and increasing its costs from transportation and handling. Nth Cycle's MHP initiative helps eliminate that risk to OEMs, while producing a product of over 90% of Nickel - Cobalt Hydroxide, vs. 30-40% Nickel and only 1-6% Cobalt (as per Fastmarkets MHP Index), which is typical of currently-sourced product. Nth Cycle's refining process could also reduce the associated production of greenhouse gasses by more than 90%, vs traditional mining processes and fulfills the domestic sourcing and recycled content compliance requirements of the Inflation Reduction Act. It also creates a new and verifiable standard for a product in a market that lacks established criteria for purity and concentration of its essential elements.
Nth Cycle plans to begin production of its advanced MHP product later this year, essentially creating a new market. Among its innovations will be the ability to co-locate at customer sites, where the company can source feedstock and return the advanced material to the manufacturer.
According to Megan O'Connor, co-founder and CEO of Nth Cycle: "We can economically and efficiently solve a key supply chain challenge for EV OEMs and battery manufacturers by offering MHP produced from our unique electro-extraction platform. And as we continue to decarbonize the grid and electrify transportation, it's more important than ever that our refining processes are environmentally sound and labor practices are safe. Our MHP product ensures both."
About Nth Cycle
Nth Cycle is a metal refining company focused on reduction opportunities across the metal supply chain. Our patented electro-extraction technology provides a sustainable solution for OEM's, miners, and scrap recyclers to reduce waste, emissions, supply chain constraints and the time needed to electrify our world. Nth Cycle's unique refining technology transforms metal feedstock including scrap, e-waste, tailings, ore, and end-of-life electronics into high-purity critical metals within a modular unit, aptly named The Oyster. Nth Cycle empowers our partners to bridge the gap between demand and supply of the metals necessary to transform our world and keep critical metals in production forever.
For more information, visit: https://nthcycle.com
Contact: Emily Lamontagne, Mahoney Communications Group
212-220-6045
352846@email4pr.com
SOURCE Nth Cycle
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