Latest news with #BatteryXMetals
Associated Press
19 hours ago
- Automotive
- Associated Press
Battery X Metals Announces Commercial Revenue Share Agreement for Next-Generation Lithium-Ion Battery Rebalancing Machine Following Estimated Driving Range Increase of ~255 km of Light-Duty Electric Vehicle Model with Severe Cell Imbalance, Restoring Battery Range to ~295 km in Preliminary Trial
News Release Highlights: VANCOUVER, BC / ACCESS Newswire / July 18, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W)('Battery X Metals' or the 'Company') an energy transition resource exploration and technology company, announces that, further to its news release dated July 4, 2025, in which the Company reported a significant driving range increase in a Class 3 light-duty electric vehicle (the 'Electric Truck') following a real-world trial using its patent-pending second-generation lithium-ion battery rebalancing hardware and software platform ('Prototype 2.0"), its wholly owned subsidiary, Battery X Rebalancing Technologies Inc. ('Battery X Rebalancing Technologies'), has entered into a Commercial Revenue Share Agreement (the 'Revenue Share Agreement') with an arm's length, independent automobile service center (the 'Automotive Service Center') based in Vancouver, BC, specializing in servicing out-of-warranty Tesla vehicles. This collaboration marks the first commercial deployment of Battery X Rebalancing Technologies' patent-pending second-generation lithium-ion battery rebalancing hardware and software platform, Prototype 2.0, in a real-world customer environment. Further to the Company's July 4, 2025 news release, the Agreement builds on the success of a preliminary real-world performance trial, in which Prototype 2.0 restored a Class 3 Electric Truck with severe battery cell imbalance from an estimated driving range of approximately 40 kilometers to approximately 295 kilometers-representing a 255-kilometer increase and a 637.5% improvement in battery range under no-load conditions (summary of the Results, below). This Revenue Share Agreement represents a critical step in Battery X Rebalancing Technologies' ongoing product development and commercialization roadmap. While Prototype 2.0 remains in its product development and validation phase, the successful rebalancing of the Electric Truck revealed an immediate market opportunity to service similar vehicles experiencing cell imbalance and range degradation. The validation phase includes continued field testing, refinement of the software architecture, implementation of data retention and analysis features, and the development of vehicle-specific adapters to expand compatibility across a wider range of EV platforms, including Tesla Model 3 and Model X (as disclosed in the Company's news release dated May 9, 2025 , and other electric vehicles. Through the Revenue Share Agreement with the Automotive Service Center, Battery X Rebalancing Technologies is now positioned to generate near-term revenue by deploying Prototype 2.0 in a live commercial setting, without incurring any direct operating, labor, or overhead costs. This cost-efficient arrangement allows Battery X Rebalancing Technologies to pursue technical and product development validation while meeting emerging market demand. Insights gained through this collaboration are expected to inform the design and capabilities of future-generation rebalancing machines and support Battery X Rebalancing Technologies' longer-term commercialization strategy. 'This Revenue Share Agreement marks a meaningful milestone in our product development and validation roadmap,' said Massimo Bellini Bressi, CEO of Battery X Metals. 'It enables us to deploy Prototype 2.0 in a real-world commercial setting while continuing to refine the platform's architecture, expand multi-vehicle compatibility, and collect operational insights that will inform future product iterations. Although we remain in the product development and validation phase, this collaboration provides strong early proof-of-concept and allows us to assess market demand and customer adoption without incurring direct operational costs.' The initial focus of the Revenue Share Agreement is on servicing Electric Trucks, where Prototype 2.0 has demonstrated successful outcomes in preliminary trials. The Revenue Share Agreement may also extend to other electric vehicle platforms, including the Nissan Leaf, which has already been successfully validated, and potentially Tesla models, subject to further compatibility validation. This phased approach enables Battery X Rebalancing Technologies to meet immediate demand for electric vehicles that have already been validated, while continuing to developing compatibility with additional electric vehicle platforms prior to expanding the scope of its rebalancing services. As previously disclosed in the Company's news release dated September 27, 2024, Battery X Rebalancing Technologies paid $200,000 to Beijing Pengneng Science & Technology Ltd. for the development and production of Prototype 2.0. While no direct operating costs will be incurred by Battery X Rebalancing Technologies under the Agreement, this investment represents initial research and development (R&D) expenditures. The Company anticipates that commercial manufacturing costs for future production units will be significantly lower. The Revenue Share Agreement will operate in parallel with the parties' existing Scope of Services Agreement (the 'Scope of Services Agreement'), as disclosed in the Company's news release dated May 9, 2025. The Scope of Services Agreement is focused on validating Battery X Rebalancing Technologies' proprietary rebalancing processes and Prototype 2.0. Under this agreement, the Automotive Service Center supports pre- and post-rebalancing diagnostics-initially centered on Tesla battery packs, while also extending validation efforts to additional EV platforms, including the Nissan Leaf, the second most common out-of-warranty electric vehicle in the United States, which was successfully validated as disclosed in the Company's news release dated May 30, 2025, and the Electric Truck. These activities are intended to inform the development of standardized operating procedures (SOPs) and further demonstrate and enable the platform's compatibility across multiple EV brands. The parties are also collaborating on battery connector port integration, with Battery X Rebalancing Technologies granted facility access for equipment storage and controlled testing. The Scope of Services Agreement carries no financial obligation and is structured to enable dedicated technical validation in support of future commercial scale-up. The Revenue Share Agreement is anticipated to complement ongoing technical initiatives while enabling Battery X Rebalancing Technologies to assess market demand and validate proof-of-concept in a live, revenue-generating environment. This early-stage collaboration provides valuable insights into service delivery, operator training, baseline pricing, and customer adoption dynamics-helping inform Battery X Rebalancing Technologies' broader commercialization strategy and potentially contributing to the development of a scalable business model over time. Terms of the Agreement Under the terms of the Revenue Share Agreement, Battery X Rebalancing Technologies will provide the Automotive Service Center with access to Prototype 2.0 at its primary service location for the purpose of offering lithium-ion battery rebalancing services to customers. Battery X Rebalancing Technologies will receive a fee equal to twenty percent (20%) of the Gross Rebalancing Service Price (defined herein) (the 'BATX Fee') for each completed rebalancing procedure, plus applicable federal and provincial sales taxes on the BATX Fee amount. Battery X Rebalancing Technologies will not incur any direct labour, overhead, or operating costs under the Revenue Share Agreement. For purposes of the Revenue Share Agreement, the 'Gross Rebalancing Service Price' is defined as the total amount billed by the Automotive Service Center to the customer for the rebalancing service, excluding taxes and excluding any Shop-Supplied Fee (defined herein). For purposes of the Revenue Share Agreement, the 'Shop-Supplied Fee' refers to a separate charge of up to five percent (5%) of the Gross Rebalancing Service Price, which may be added by the Automotive Service Center to cover costs such as shop materials and credit card processing fees. Battery X Rebalancing Technologies is not entitled to any portion of the Shop-Supplied Fee, which shall be retained entirely by the Automotive Service Center. Prototype 2.0 remains the exclusive property of Battery X Rebalancing Technologies and is classified as a working prototype that supports the Battery X Rebalancing Technologies' broader research, development, validation, and commercialization roadmap. Battery X Rebalancing Technologies retains all rights, title, and interest in and to any data, diagnostic results, or performance outputs generated through its use. The Revenue Share Agreement provides Battery X Rebalancing Technologies with the right to reclaim Prototype 2.0 at any time upon not less than 24 hours' written notice. The Automotive Service Center is required to provide monthly statements detailing all completed rebalancing procedures by the third business day of each calendar month. Based on this statement, Battery X Rebalancing Technologies will issue an invoice for the applicable BATX Fees plus taxes. Payment is due no later than the fifth business day of the same month. Any undisputed amount remaining unpaid after that time will accrue interest at a rate of 2.0% per month (24% per annum), compounded monthly. The Revenue Share Agreement will remain in effect until terminated by either party upon thirty days' written notice. Upon termination, the Automotive Service Center will be required to return Prototype 2.0 in good working condition and remit any outstanding BATX Fees, if applicable. Electric Truck Real World Rebalancing Trial Results Further to the Company's news release dated July 4, 2025, Battery X Rebalancing successfully completed a real-world driving trial demonstrating a significant increase in estimated driving range for a fully electric, Class 3 commercial electric vehicle, or light-duty electric vehicle (the 'Electric Truck'), following a full battery rebalancing process using Prototype 2.0. As part of its ongoing performance validation program for Prototype 2.0, Battery X Rebalancing Technologies recently conducted a series of real-world road tests on a rebalanced Electric Truck to evaluate post-rebalancing driving range and battery efficiency. The Electric Truck was supplied by an authorized Canadian distributor of the Electric Truck (the 'Electric Truck Authorized Distributor') and, as represented by the Electric Truck Authorized Distributor, had previously demonstrated a significantly degraded driving range of approximately 40 kilometers per full charge caused by significant natural cell imbalance caused by real-world conditions. In response to this battery capacity performance deficiency, Battery X Rebalancing Technologies performed a battery rebalancing procedure on the Electric Truck utilizing Prototype 2.0, as initially disclosed in the Company's news release dated June 6, 2025. During the associated rebalancing trial (the 'Rebalancing Trial'), Battery X Rebalancing Technologies successfully completed a full rebalancing process on a 144-cell lithium-ion battery pack composed of lithium nickel manganese cobalt oxide (NMC) chemistry, which had exhibited substantial imbalance attributable to real-world operating conditions. The Rebalancing Trial demonstrated complete (100%) recovery of imbalance-related capacity loss and yielded a 37.7% increase in the Rated Capacity (as defined in the June 6, 2025 news release ) of the Electric Truck's battery pack. The Results Following completion of the rebalancing procedure, Battery X Rebalancing Technologies conducted a series of controlled real-world performance evaluations (each, a 'Trial' and collectively, the 'Battery Range Performance Trials') on the Electric Truck for the purpose of assessing post-rebalancing improvements in battery range and overall energy efficiency under actual operating conditions. In the first Trial, the Electric Truck traveled a total distance of 41 kilometers, utilizing approximately 14% of its available battery capacity, while operating across a combination of highway and city driving environments. In the second Trial, the vehicle completed a distance of 107.3 kilometers while consuming approximately 35% of its battery capacity, under similarly mixed driving conditions. The third Trial, conducted exclusively under city driving conditions, demonstrated that the vehicle traveled 58.2 kilometers while utilizing approximately 21% of its available battery charge (collectively, the 'Results'). The Results demonstrate a material improvement in the estimated driving range and effective battery capacity of the Electric Truck. Specifically, post-rebalancing performance testing indicates an estimated driving range of approximately 295 kilometers per full charge under no-load conditions. These figures represent an increase of up to 255 kilometers in driving range under no-load conditions, corresponding to an approximately 637.5% improvement of battery driving range, as compared to the pre-rebalancing range of approximately 40 kilometers. The Results affirm the technical efficacy and commercial relevance of Battery X Rebalancing Technologies' proprietary rebalancing process and support its broader applicability within light-duty electric vehicle fleets and other commercial electric transportation use cases. The Electric Truck parent company has represented that the Electric Truck's expected driving range under maximum payload conditions is approximately 290 kilometers. Battery X Rebalancing Technologies' Battery Range Performance Trials yielded an estimated range of approximately 295 kilometers under no-load conditions following rebalancing. Although these figures were obtained under different load scenarios, the close alignment between the Electric Truck Authorized Distributor's reported range and the post-rebalancing estimate supports the reliability of Battery X Rebalancing Technologies' testing methodology. Furthermore, the Results underscore the potential of Battery X Rebalancing Technologies' rebalancing process to restore battery performance to levels consistent with the high end of manufacturer-reported specifications. The Battery Range Performance Trials were performed under no-load conditions; it is relevant to note that payload can have an effect on energy consumption and overall driving range. This consideration is consistent with widely recognized industry dynamics and is disclosed to provide a complete and transparent understanding of factors that may influence real-world vehicle performance. Range may vary based on payload, terrain, driving behavior, and other operational conditions. These performance outcomes further validate the effectiveness and market relevance of Battery X Rebalancing Technologies' proprietary rebalancing solution in restoring degraded battery capacity and materially extending the remaining useful life of commercial electric vehicle batteries. The Company believes these results provide compelling technical validation in support of Prototype 2.0's broader commercial deployment, particularly in fleet environments where range reliability, battery lifespan longevity, and total cost of ownership are mission-critical considerations. Significance of Results & Market Opportunity for the Electric Truck The Results of the Rebalancing Trial and the Battery Range Performance Trials collectively demonstrate that Prototype 2.0 is capable of effectively rebalancing lithium-ion battery packs exhibiting significant, naturally occurring cell imbalance. This successful outcome builds upon previously disclosed validation milestones achieved by Battery X Rebalancing Technologies, including third-party technical validation conducted by the National Research Council of Canada (as referenced below), as well as the Company's news release dated May 30, 2025, announcing the successful rebalancing of a naturally imbalanced Nissan Leaf battery pack-the second most common out-of-warranty electric vehicle platform in the United States. Importantly, the Results not only validate the technical efficacy of Prototype 2.0 in an Electric Truck application, but also demonstrate its potential to recover substantial lost battery capacity resulting from cell imbalance. This performance reinforces the relevance of the Company's patent-pending technology in practical, real-world scenarios and highlights the broader need for scalable, cost-effective battery recovery solutions. The Battery Range Performance Trials further substantiates the commercial viability of Prototype 2.0 as a solution to extend the remaining useful life of aging battery packs in commercial electric vehicle fleets. The Electric Truck and associated Electric Truck battery pack were supplied to Battery X Rebalancing Technologies at no cost for testing and evaluation by the Electric Truck Authorized Distributor, who advised that it owns and operates a fleet of approximately 20 Electric Trucks (the 'Electric Truck Fleet'). According to the Electric Truck Authorized Distributor, multiple vehicles within the Electric Truck Fleet have exhibited material battery degradation and capacity loss attributable to cell imbalance. The Rebalancing Trial and the Battery Range Performance Trials were undertaken in response to the Electric Truck Authorized Distributor's request for a viable alternative to full battery replacement, which it advised may be financially prohibitive on a fleet-wide basis. The objective of the Rebalancing Trial and the Battery Range Performance Trials was to determine whether Prototype 2.0 could effectively restore functional battery performance in a degraded battery unit sourced from the Electric Truck Fleet. Upon successful rebalancing, the Battery Range Performance Trials further aimed to quantify the extent of recovered battery capacity in terms of estimated driving range. The positive Results are expected to inform and support ongoing discussions with the Electric Truck Authorized Distributor regarding the potential deployment of the rebalancing solution across its broader fleet, with the goal of extending battery life and mitigating the operational and financial impact of premature battery replacements. Battery X Rebalancing Technologies has been informed by the Electric Truck Authorized Distributor that a substantial number of similar electric trucks are currently in operation across various markets, including those held by the Electric Truck's parent company, authorized distributors, commercial fleet operators, and private owners. Many of these vehicles are reportedly experiencing battery degradation symptoms consistent with cell imbalance. This feedback underscores a broader market opportunity for Battery X Rebalancing Technologies to provide a scalable, cost-effective rebalancing solution aimed at extending battery life and reducing total cost of ownership for commercial EV stakeholders. In conjunction with the Rebalancing Trial and the Battery Range Performance Trials, Battery X Rebalancing Technologies is currently advancing the development of standardized operating procedures ('SOPs') tailored to the Electric Truck Battery Pack, in addition to refining user interface and workflow enhancements within Prototype 2.0. The Company is also actively pursuing a commercial manufacturing agreement to support scalable production and deployment of its rebalancing platform. These activities are intended to further the Company's broader commercialization strategy, which is not limited to any single third-party opportunity. The Electric Truck-specific SOPs, however, are being developed in direct response to the successful Battery Range Performance Trials and the interest expressed by the Electric Truck Authorized Distributor. While the execution of the Revenue Share Agreement with the Automotive Service Center represents the first potential revenue-generating arrangement for Battery X Rebalancing Technologies, there can be no assurance that additional commercial agreements with the Electric Truck Authorized Distributor or other third parties will be entered into at this time. Although the Company remains encouraged by the results of the Rebalancing Trial and Battery Range Performance Trials, any future commercial arrangements will be subject to further technical validation, the negotiation of mutually acceptable terms, and completion of operational readiness milestones. The Problem: Rising EV Adoption Presents New Battery Lifecycle Challenges In 2024, global EV sales reached approximately 17.1 million units, representing a 25% increase from 20231. With cumulative global EV sales from 2015 to 2023 totaling an estimated over 40 million units2, a significant share of the global EV fleet is expected to exit warranty coverage over the coming years. By 2031, nearly 40 million electric, plug-in hybrid, and hybrid vehicles worldwide are anticipated to fall outside of their original warranty coverage3,4. This projection is based on current EV adoption figures and standard industry warranty terms, and underscores a growing risk for EV owners facing battery degradation, reduced capacity, and costly replacement requirements5. As the global EV fleet continues to expand, the demand for technologies that extend battery life, reduce long-term ownership costs, and support a sustainable transition to electric mobility is increasing. The Solution: Next-Generation Technologies to Support Lithium-Ion Battery Longevity Battery X Rebalancing Technologies' proprietary software and hardware technology aims to address this challenge by extending the lifespan of EV batteries. This innovation is being developed with the aim to enhance the sustainability of electric transportation and the goal to provide EV owners with a more cost-effective, environmentally friendly ownership experience by reducing the need for costly battery replacements. Battery X Rebalancing Technologies' rebalancing technology, validated by the National Research Council of Canada ('NRC'), focuses on battery cell rebalancing. The NRC validation demonstrated the technology's ability to effectively correct cell imbalances in lithium-ion battery packs, recovering nearly all lost capacity due to cell imbalance. The validation was conducted on battery modules composed of fifteen 72Ah LiFePO₄ cells connected in series. The cells were initially balanced to a uniform state of charge (SOC), with a measured discharge capacity of 71.10Ah. In the validation test, three of the fifteen cells were then artificially imbalanced-one cell was charged to a 20% higher SOC, and two cells were discharged to a 20% lower SOC-resulting in a reduced discharge capacity of 46.24Ah, following rebalancing using Battery X Rebalancing Technologies' rebalancing technology. These advancements establish Battery X Rebalancing Technologies as a participant in lithium-ion and EV battery solutions, aiming to tackle the critical challenges of capacity degradation of battery packs and expensive replacements. By extending the lifecycle of battery materials within the supply chain, Battery X Rebalancing Technologies aims to support the energy transition and promote a more sustainable future. 1 Rho Motion - Global EV Sales 2024, 2 IEA Global EV Outlook 2024, 3 IEA, 4 U.S. News, 5 Recurrent Auto About Battery X Metals Inc. Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W) is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit On Behalf of the Board of Directors Massimo Bellini Bressi, Director For further information, please contact: Massimo Bellini Bressi Chief Executive Officer Email: [email protected] Tel: (604) 741-0444 Disclaimer for Forward-Looking Information This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements in this release relate to, among other things: the commercial deployment and performance of Prototype 2.0; the terms and benefits of the Commercial Revenue Share Agreement with the Automotive Service Center; the expected generation of revenue without direct operating costs; the implications of the real-world Electric Truck rebalancing trial and its reported driving range improvements; the broader technical capabilities and commercial potential of Prototype 2.0; ongoing software, workflow, and compatibility validation across additional EV platforms including Nissan Leaf and Tesla models; the potential to expand deployment across the Electric Truck Authorized Distributor's fleet; anticipated market demand for the Company's battery rebalancing services; the continued development and implementation of standardized operating procedures (SOPs); the pursuit and execution of a commercial manufacturing agreement; and the Company's ability to offer scalable, cost-effective rebalancing solutions for aging EV batteries and out-of-warranty vehicles globally. These forward-looking statements reflect management's current beliefs, expectations, and assumptions as of the date of this news release, and are based on a number of factors and assumptions believed to be reasonable at the time such statements are made, including but not limited to: assumptions regarding lithium-ion battery performance and chemistry; the repeatability of Prototype 2.0 results across different EV platforms and use cases; the operational readiness of partners and service providers; the Company's ongoing contractual relationships with partners and service providers; the availability of vehicles requiring rebalancing services; and the Company's ability to refine and scale its rebalancing platform for commercial production and deployment. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to: delays in product validation or commercialization; variability in real-world vehicle performance; inability to replicate initial results; failure to secure additional commercial agreements or customers; market adoption risk; evolving regulatory conditions; manufacturing or supply chain limitations; intellectual property challenges; and general business, economic, competitive, political, or social uncertainties. There can be no assurance that the Company will achieve commercial adoption of Prototype 2.0, secure additional deployments or fleet partnerships, or generate revenue as anticipated. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, Battery X Metals Inc. undertakes no obligation to revise or update any forward-looking statements to reflect future events or circumstances. Additional risk factors may be found in the Company's continuous disclosure filings available under its profile at SOURCE: Battery X Metals press release
Associated Press
19 hours ago
- Business
- Associated Press
Battery X Metals Announces Annual General Meeting Results, Corporate Awareness Agreement, and Initiative to Strengthen Financial Position
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / July 18, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W)('Battery X Metals' or the 'Company') an energy transition resource exploration and technology company, announces the voting results from its Annual General and Special Meeting ('AGSM') held on July 16, 2025 in Vancouver, British Columbia. Shareholders voted in favour of all items of business presented at the AGSM, as outlined in the proxy-related materials, including the Notice of Meeting and the Information Circular dated June 11, 2025 (the 'Information Circular'). These items included the election of directors, the appointment of the Company's auditor, the approval of the Omnibus Equity Incentive Plan, and the proposed share consolidation. A total of 15,447,811 common shares were represented at the meeting, representing 26.73% of the Company's issued and outstanding common shares as of the record date of the meeting (57,791,550). Results of Voting Following the AGSM, Mr. Dallas Pretty and Mr. John Campbell were elected as Directors of the Company. The Company also reappointed its current officers and confirmed the composition of its Audit and Governance Committees. For more information on the resolutions and full meeting materials, shareholders are encouraged to refer to the Information Circular available at the Company's profile on SEDAR+. Corporate Awareness Agreement The Company also announces that, effective July 17, 2025, it has entered into a service agreement (the 'Agreement') with Apollo Shareholder Relations Ltd. ('Apollo') to provide investor communications and marketing services for a period of four (4) months, commencing on or about August 1, 2025. Apollo is arm's length to the Company. Pursuant to the terms of the Agreement, Apollo will be responsible for delivering a comprehensive suite of services, including investor relations strategy, content creation, digital campaigns, social and community engagement, public relations, SEO and analytics, technology integration, compliance and governance, and training and support. The objective of the engagement is to enhance the Company's investor awareness and public profile within the Canadian and global capital markets. The Company has agreed to pay Apollo a total fee of CAD $35,000 (plus applicable taxes) for the four-month term, payable as follows: CAD $17,000 upon execution of the agreement and CAD $6,000 on the first day of each of the second, third, and fourth months of the term. No stock options are being granted to Apollo under the terms of the engagement. To the knowledge of the Company, at the time of entering into the agreement, Apollo and its principals, directly and indirectly hold 74,038 common shares of the Company. Contact: Jazz Chodak, Chief Revenue Officer, Apollo Shareholder Relations Ltd., 1395 Bear Mountain Parkway, Victoria, BC V9B 0E1, [email protected]. Proposed Debt Settlement The Company also announces that it intends to settle outstanding indebtedness in an aggregate amount of up to $550,000 (the 'Debt Settlement') owing to certain creditors of the Company. The Debt Settlement is anticipated to be satisfied through the following issuances: The securities issued under the Debt Settlement will be subject to a statutory hold period expiring four months and one day from the date of issuance. Closing of the Debt Settlement is expected to occur on or around July 28, 2025. Insiders may participate in the Debt Settlement and such participation may constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the Debt Settlement by insiders will not exceed 25% of the fair market value of the Company's market capitalization. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the '1933 Act'), or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws. About Battery X Metals Inc. Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W) is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit On Behalf of the Board of Directors Massimo Bellini Bressi, Director For further information, please contact: Massimo Bellini Bressi Chief Executive Officer Email: [email protected] Tel: (604) 741-0444 Disclaimer for Forward-Looking Information This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this release include statements regarding the Company's engagement of Apollo Shareholder Relations Ltd. and the results of such engagement, the proposed Debt Settlement, the terms of the Debt Settlement, and the expected closing date of the Debt Settlement. Forward-looking statements reflect management's current beliefs, expectations, and assumptions based on available information as of the date of this release. However, these statements are subject to known and unknown risks, uncertainties, and other factors that could cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks include, but are not limited to, the risk that the engagement with Apollo Shareholder Relations Ltd. is terminated prior to the completion of the contemplated services, that the Company may not complete the proposed Debt Settlement as expected or at all, and general economic, market, and regulatory conditions. Additional risks and uncertainties are discussed in the Company's filings on SEDAR+. The forward-looking statements in this news release are made as of the date hereof, and Battery X Metals disclaims any intention or obligation to update or revise such statements, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements. SOURCE: Battery X Metals press release
Yahoo
19 hours ago
- Automotive
- Yahoo
Battery X Metals Announces Commercial Revenue Share Agreement for Next-Generation Lithium-Ion Battery Rebalancing Machine Following Estimated Driving Range Increase of ~255 km of Light-Duty Electric Vehicle Model with Severe Cell Imbalance, Restoring Battery Range to ~295 km in Preliminary Trial
News Release Highlights: Battery X Metals Inc.'s wholly-owned subsidiary, Battery X Rebalancing Technologies Inc., has entered into a Commercial Revenue Share Agreement with an arm's length, independent Vancouver-based automotive service center specializing in out-of-warranty Tesla vehicles. The agreement marks the first commercial deployment of its patent-pending, second-generation lithium-ion battery rebalancing machine ("Prototype 2.0") in a live customer-facing environment. Under the terms of the Agreement, Battery X Rebalancing Technologies will receive 20% of gross service revenue per rebalancing procedure, plus applicable taxes, with no direct costs incurred for labor, overhead, or shop operations-establishing a potential early-stage revenue stream with no direct operating expenses. The Revenue Share Agreement follows a successful real-world performance trial in which Prototype 2.0 restored a severely imbalanced light-duty electric truck's estimated driving range from approximately 40 kilometers to 295 kilometers-a 255-kilometer increase representing a 637.5% improvement-validating the commercial potential of the platform. VANCOUVER, BC / / July 18, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W)("Battery X Metals" or the "Company") an energy transition resource exploration and technology company, announces that, further to its news release dated July 4, 2025, in which the Company reported a significant driving range increase in a Class 3 light-duty electric vehicle (the "Electric Truck") following a real-world trial using its patent-pending second-generation lithium-ion battery rebalancing hardware and software platform ("Prototype 2.0"), its wholly owned subsidiary, Battery X Rebalancing Technologies Inc. ("Battery X Rebalancing Technologies"), has entered into a Commercial Revenue Share Agreement (the "Revenue Share Agreement") with an arm's length, independent automobile service center (the "Automotive Service Center") based in Vancouver, BC, specializing in servicing out-of-warranty Tesla vehicles. This collaboration marks the first commercial deployment of Battery X Rebalancing Technologies' patent-pending second-generation lithium-ion battery rebalancing hardware and software platform, Prototype 2.0, in a real-world customer environment. Further to the Company's July 4, 2025 news release, the Agreement builds on the success of a preliminary real-world performance trial, in which Prototype 2.0 restored a Class 3 Electric Truck with severe battery cell imbalance from an estimated driving range of approximately 40 kilometers to approximately 295 kilometers-representing a 255-kilometer increase and a 637.5% improvement in battery range under no-load conditions (summary of the Results, below). This Revenue Share Agreement represents a critical step in Battery X Rebalancing Technologies' ongoing product development and commercialization roadmap. While Prototype 2.0 remains in its product development and validation phase, the successful rebalancing of the Electric Truck revealed an immediate market opportunity to service similar vehicles experiencing cell imbalance and range degradation. The validation phase includes continued field testing, refinement of the software architecture, implementation of data retention and analysis features, and the development of vehicle-specific adapters to expand compatibility across a wider range of EV platforms, including Tesla Model 3 and Model X (as disclosed in the Company's news release dated May 9, 2025 , and other electric vehicles. Through the Revenue Share Agreement with the Automotive Service Center, Battery X Rebalancing Technologies is now positioned to generate near-term revenue by deploying Prototype 2.0 in a live commercial setting, without incurring any direct operating, labor, or overhead costs. This cost-efficient arrangement allows Battery X Rebalancing Technologies to pursue technical and product development validation while meeting emerging market demand. Insights gained through this collaboration are expected to inform the design and capabilities of future-generation rebalancing machines and support Battery X Rebalancing Technologies' longer-term commercialization strategy. "This Revenue Share Agreement marks a meaningful milestone in our product development and validation roadmap," said Massimo Bellini Bressi, CEO of Battery X Metals. "It enables us to deploy Prototype 2.0 in a real-world commercial setting while continuing to refine the platform's architecture, expand multi-vehicle compatibility, and collect operational insights that will inform future product iterations. Although we remain in the product development and validation phase, this collaboration provides strong early proof-of-concept and allows us to assess market demand and customer adoption without incurring direct operational costs." The initial focus of the Revenue Share Agreement is on servicing Electric Trucks, where Prototype 2.0 has demonstrated successful outcomes in preliminary trials. The Revenue Share Agreement may also extend to other electric vehicle platforms, including the Nissan Leaf, which has already been successfully validated, and potentially Tesla models, subject to further compatibility validation. This phased approach enables Battery X Rebalancing Technologies to meet immediate demand for electric vehicles that have already been validated, while continuing to developing compatibility with additional electric vehicle platforms prior to expanding the scope of its rebalancing services. As previously disclosed in the Company's news release dated September 27, 2024, Battery X Rebalancing Technologies paid $200,000 to Beijing Pengneng Science & Technology Ltd. for the development and production of Prototype 2.0. While no direct operating costs will be incurred by Battery X Rebalancing Technologies under the Agreement, this investment represents initial research and development (R&D) expenditures. The Company anticipates that commercial manufacturing costs for future production units will be significantly lower. The Revenue Share Agreement will operate in parallel with the parties' existing Scope of Services Agreement (the "Scope of Services Agreement"), as disclosed in the Company's news release dated May 9, 2025. The Scope of Services Agreement is focused on validating Battery X Rebalancing Technologies' proprietary rebalancing processes and Prototype 2.0. Under this agreement, the Automotive Service Center supports pre- and post-rebalancing diagnostics-initially centered on Tesla battery packs, while also extending validation efforts to additional EV platforms, including the Nissan Leaf, the second most common out-of-warranty electric vehicle in the United States, which was successfully validated as disclosed in the Company's news release dated May 30, 2025, and the Electric Truck. These activities are intended to inform the development of standardized operating procedures (SOPs) and further demonstrate and enable the platform's compatibility across multiple EV brands. The parties are also collaborating on battery connector port integration, with Battery X Rebalancing Technologies granted facility access for equipment storage and controlled testing. The Scope of Services Agreement carries no financial obligation and is structured to enable dedicated technical validation in support of future commercial scale-up. The Revenue Share Agreement is anticipated to complement ongoing technical initiatives while enabling Battery X Rebalancing Technologies to assess market demand and validate proof-of-concept in a live, revenue-generating environment. This early-stage collaboration provides valuable insights into service delivery, operator training, baseline pricing, and customer adoption dynamics-helping inform Battery X Rebalancing Technologies' broader commercialization strategy and potentially contributing to the development of a scalable business model over time. Terms of the Agreement Under the terms of the Revenue Share Agreement, Battery X Rebalancing Technologies will provide the Automotive Service Center with access to Prototype 2.0 at its primary service location for the purpose of offering lithium-ion battery rebalancing services to customers. Battery X Rebalancing Technologies will receive a fee equal to twenty percent (20%) of the Gross Rebalancing Service Price (defined herein) (the "BATX Fee") for each completed rebalancing procedure, plus applicable federal and provincial sales taxes on the BATX Fee amount. Battery X Rebalancing Technologies will not incur any direct labour, overhead, or operating costs under the Revenue Share Agreement. For purposes of the Revenue Share Agreement, the "Gross Rebalancing Service Price" is defined as the total amount billed by the Automotive Service Center to the customer for the rebalancing service, excluding taxes and excluding any Shop-Supplied Fee (defined herein). For purposes of the Revenue Share Agreement, the "Shop-Supplied Fee" refers to a separate charge of up to five percent (5%) of the Gross Rebalancing Service Price, which may be added by the Automotive Service Center to cover costs such as shop materials and credit card processing fees. Battery X Rebalancing Technologies is not entitled to any portion of the Shop-Supplied Fee, which shall be retained entirely by the Automotive Service Center. Prototype 2.0 remains the exclusive property of Battery X Rebalancing Technologies and is classified as a working prototype that supports the Battery X Rebalancing Technologies' broader research, development, validation, and commercialization roadmap. Battery X Rebalancing Technologies retains all rights, title, and interest in and to any data, diagnostic results, or performance outputs generated through its use. The Revenue Share Agreement provides Battery X Rebalancing Technologies with the right to reclaim Prototype 2.0 at any time upon not less than 24 hours' written notice. The Automotive Service Center is required to provide monthly statements detailing all completed rebalancing procedures by the third business day of each calendar month. Based on this statement, Battery X Rebalancing Technologies will issue an invoice for the applicable BATX Fees plus taxes. Payment is due no later than the fifth business day of the same month. Any undisputed amount remaining unpaid after that time will accrue interest at a rate of 2.0% per month (24% per annum), compounded monthly. The Revenue Share Agreement will remain in effect until terminated by either party upon thirty days' written notice. Upon termination, the Automotive Service Center will be required to return Prototype 2.0 in good working condition and remit any outstanding BATX Fees, if applicable. Electric Truck Real World Rebalancing Trial Results Further to the Company's news release dated July 4, 2025, Battery X Rebalancing successfully completed a real-world driving trial demonstrating a significant increase in estimated driving range for a fully electric, Class 3 commercial electric vehicle, or light-duty electric vehicle (the "Electric Truck"), following a full battery rebalancing process using Prototype 2.0. As part of its ongoing performance validation program for Prototype 2.0, Battery X Rebalancing Technologies recently conducted a series of real-world road tests on a rebalanced Electric Truck to evaluate post-rebalancing driving range and battery efficiency. The Electric Truck was supplied by an authorized Canadian distributor of the Electric Truck (the "Electric Truck Authorized Distributor") and, as represented by the Electric Truck Authorized Distributor, had previously demonstrated a significantly degraded driving range of approximately 40 kilometers per full charge caused by significant natural cell imbalance caused by real-world conditions. In response to this battery capacity performance deficiency, Battery X Rebalancing Technologies performed a battery rebalancing procedure on the Electric Truck utilizing Prototype 2.0, as initially disclosed in the Company's news release dated June 6, 2025. During the associated rebalancing trial (the "Rebalancing Trial"), Battery X Rebalancing Technologies successfully completed a full rebalancing process on a 144-cell lithium-ion battery pack composed of lithium nickel manganese cobalt oxide (NMC) chemistry, which had exhibited substantial imbalance attributable to real-world operating conditions. The Rebalancing Trial demonstrated complete (100%) recovery of imbalance-related capacity loss and yielded a 37.7% increase in the Rated Capacity (as defined in the June 6, 2025 news release) of the Electric Truck's battery pack. The Results Following completion of the rebalancing procedure, Battery X Rebalancing Technologies conducted a series of controlled real-world performance evaluations (each, a "Trial" and collectively, the "Battery Range Performance Trials") on the Electric Truck for the purpose of assessing post-rebalancing improvements in battery range and overall energy efficiency under actual operating conditions. In the first Trial, the Electric Truck traveled a total distance of 41 kilometers, utilizing approximately 14% of its available battery capacity, while operating across a combination of highway and city driving environments. In the second Trial, the vehicle completed a distance of 107.3 kilometers while consuming approximately 35% of its battery capacity, under similarly mixed driving conditions. The third Trial, conducted exclusively under city driving conditions, demonstrated that the vehicle traveled 58.2 kilometers while utilizing approximately 21% of its available battery charge (collectively, the "Results"). The Results demonstrate a material improvement in the estimated driving range and effective battery capacity of the Electric Truck. Specifically, post-rebalancing performance testing indicates an estimated driving range of approximately 295 kilometers per full charge under no-load conditions. These figures represent an increase of up to 255 kilometers in driving range under no-load conditions, corresponding to an approximately 637.5% improvement of battery driving range, as compared to the pre-rebalancing range of approximately 40 kilometers. The Results affirm the technical efficacy and commercial relevance of Battery X Rebalancing Technologies' proprietary rebalancing process and support its broader applicability within light-duty electric vehicle fleets and other commercial electric transportation use cases. The Electric Truck parent company has represented that the Electric Truck's expected driving range under maximum payload conditions is approximately 290 kilometers. Battery X Rebalancing Technologies' Battery Range Performance Trials yielded an estimated range of approximately 295 kilometers under no-load conditions following rebalancing. Although these figures were obtained under different load scenarios, the close alignment between the Electric Truck Authorized Distributor's reported range and the post-rebalancing estimate supports the reliability of Battery X Rebalancing Technologies' testing methodology. Furthermore, the Results underscore the potential of Battery X Rebalancing Technologies' rebalancing process to restore battery performance to levels consistent with the high end of manufacturer-reported specifications. The Battery Range Performance Trials were performed under no-load conditions; it is relevant to note that payload can have an effect on energy consumption and overall driving range. This consideration is consistent with widely recognized industry dynamics and is disclosed to provide a complete and transparent understanding of factors that may influence real-world vehicle performance. Range may vary based on payload, terrain, driving behavior, and other operational conditions. These performance outcomes further validate the effectiveness and market relevance of Battery X Rebalancing Technologies' proprietary rebalancing solution in restoring degraded battery capacity and materially extending the remaining useful life of commercial electric vehicle batteries. The Company believes these results provide compelling technical validation in support of Prototype 2.0's broader commercial deployment, particularly in fleet environments where range reliability, battery lifespan longevity, and total cost of ownership are mission-critical considerations. Significance of Results & Market Opportunity for the Electric Truck The Results of the Rebalancing Trial and the Battery Range Performance Trials collectively demonstrate that Prototype 2.0 is capable of effectively rebalancing lithium-ion battery packs exhibiting significant, naturally occurring cell imbalance. This successful outcome builds upon previously disclosed validation milestones achieved by Battery X Rebalancing Technologies, including third-party technical validation conducted by the National Research Council of Canada (as referenced below), as well as the Company's news release dated May 30, 2025, announcing the successful rebalancing of a naturally imbalanced Nissan Leaf battery pack-the second most common out-of-warranty electric vehicle platform in the United States. Importantly, the Results not only validate the technical efficacy of Prototype 2.0 in an Electric Truck application, but also demonstrate its potential to recover substantial lost battery capacity resulting from cell imbalance. This performance reinforces the relevance of the Company's patent-pending technology in practical, real-world scenarios and highlights the broader need for scalable, cost-effective battery recovery solutions. The Battery Range Performance Trials further substantiates the commercial viability of Prototype 2.0 as a solution to extend the remaining useful life of aging battery packs in commercial electric vehicle fleets. The Electric Truck and associated Electric Truck battery pack were supplied to Battery X Rebalancing Technologies at no cost for testing and evaluation by the Electric Truck Authorized Distributor, who advised that it owns and operates a fleet of approximately 20 Electric Trucks (the "Electric Truck Fleet"). According to the Electric Truck Authorized Distributor, multiple vehicles within the Electric Truck Fleet have exhibited material battery degradation and capacity loss attributable to cell imbalance. The Rebalancing Trial and the Battery Range Performance Trials were undertaken in response to the Electric Truck Authorized Distributor's request for a viable alternative to full battery replacement, which it advised may be financially prohibitive on a fleet-wide basis. The objective of the Rebalancing Trial and the Battery Range Performance Trials was to determine whether Prototype 2.0 could effectively restore functional battery performance in a degraded battery unit sourced from the Electric Truck Fleet. Upon successful rebalancing, the Battery Range Performance Trials further aimed to quantify the extent of recovered battery capacity in terms of estimated driving range. The positive Results are expected to inform and support ongoing discussions with the Electric Truck Authorized Distributor regarding the potential deployment of the rebalancing solution across its broader fleet, with the goal of extending battery life and mitigating the operational and financial impact of premature battery replacements. Battery X Rebalancing Technologies has been informed by the Electric Truck Authorized Distributor that a substantial number of similar electric trucks are currently in operation across various markets, including those held by the Electric Truck's parent company, authorized distributors, commercial fleet operators, and private owners. Many of these vehicles are reportedly experiencing battery degradation symptoms consistent with cell imbalance. This feedback underscores a broader market opportunity for Battery X Rebalancing Technologies to provide a scalable, cost-effective rebalancing solution aimed at extending battery life and reducing total cost of ownership for commercial EV stakeholders. In conjunction with the Rebalancing Trial and the Battery Range Performance Trials, Battery X Rebalancing Technologies is currently advancing the development of standardized operating procedures ("SOPs") tailored to the Electric Truck Battery Pack, in addition to refining user interface and workflow enhancements within Prototype 2.0. The Company is also actively pursuing a commercial manufacturing agreement to support scalable production and deployment of its rebalancing platform. These activities are intended to further the Company's broader commercialization strategy, which is not limited to any single third-party opportunity. The Electric Truck-specific SOPs, however, are being developed in direct response to the successful Battery Range Performance Trials and the interest expressed by the Electric Truck Authorized Distributor. While the execution of the Revenue Share Agreement with the Automotive Service Center represents the first potential revenue-generating arrangement for Battery X Rebalancing Technologies, there can be no assurance that additional commercial agreements with the Electric Truck Authorized Distributor or other third parties will be entered into at this time. Although the Company remains encouraged by the results of the Rebalancing Trial and Battery Range Performance Trials, any future commercial arrangements will be subject to further technical validation, the negotiation of mutually acceptable terms, and completion of operational readiness milestones. The Problem: Rising EV Adoption Presents New Battery Lifecycle Challenges In 2024, global EV sales reached approximately 17.1 million units, representing a 25% increase from 20231. With cumulative global EV sales from 2015 to 2023 totaling an estimated over 40 million units2, a significant share of the global EV fleet is expected to exit warranty coverage over the coming years. By 2031, nearly 40 million electric, plug-in hybrid, and hybrid vehicles worldwide are anticipated to fall outside of their original warranty coverage3,4. This projection is based on current EV adoption figures and standard industry warranty terms, and underscores a growing risk for EV owners facing battery degradation, reduced capacity, and costly replacement requirements5. As the global EV fleet continues to expand, the demand for technologies that extend battery life, reduce long-term ownership costs, and support a sustainable transition to electric mobility is increasing. The Solution: Next-Generation Technologies to Support Lithium-Ion Battery Longevity Battery X Rebalancing Technologies' proprietary software and hardware technology aims to address this challenge by extending the lifespan of EV batteries. This innovation is being developed with the aim to enhance the sustainability of electric transportation and the goal to provide EV owners with a more cost-effective, environmentally friendly ownership experience by reducing the need for costly battery replacements. Battery X Rebalancing Technologies' rebalancing technology, validated by the National Research Council of Canada ("NRC"), focuses on battery cell rebalancing. The NRC validation demonstrated the technology's ability to effectively correct cell imbalances in lithium-ion battery packs, recovering nearly all lost capacity due to cell imbalance. The validation was conducted on battery modules composed of fifteen 72Ah LiFePO₄ cells connected in series. The cells were initially balanced to a uniform state of charge (SOC), with a measured discharge capacity of 71.10Ah. In the validation test, three of the fifteen cells were then artificially imbalanced-one cell was charged to a 20% higher SOC, and two cells were discharged to a 20% lower SOC-resulting in a reduced discharge capacity of 46.24Ah, following rebalancing using Battery X Rebalancing Technologies' rebalancing technology. These advancements establish Battery X Rebalancing Technologies as a participant in lithium-ion and EV battery solutions, aiming to tackle the critical challenges of capacity degradation of battery packs and expensive replacements. By extending the lifecycle of battery materials within the supply chain, Battery X Rebalancing Technologies aims to support the energy transition and promote a more sustainable future. 1 Rho Motion - Global EV Sales 2024, 2 IEA Global EV Outlook 2024, 3 IEA, 4 U.S. News, 5 Recurrent Auto About Battery X Metals Inc. Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W) is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit On Behalf of the Board of Directors Massimo Bellini Bressi, Director For further information, please contact: Massimo Bellini BressiChief Executive OfficerEmail: mbellini@ (604) 741-0444 Disclaimer for Forward-Looking Information This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements in this release relate to, among other things: the commercial deployment and performance of Prototype 2.0; the terms and benefits of the Commercial Revenue Share Agreement with the Automotive Service Center; the expected generation of revenue without direct operating costs; the implications of the real-world Electric Truck rebalancing trial and its reported driving range improvements; the broader technical capabilities and commercial potential of Prototype 2.0; ongoing software, workflow, and compatibility validation across additional EV platforms including Nissan Leaf and Tesla models; the potential to expand deployment across the Electric Truck Authorized Distributor's fleet; anticipated market demand for the Company's battery rebalancing services; the continued development and implementation of standardized operating procedures (SOPs); the pursuit and execution of a commercial manufacturing agreement; and the Company's ability to offer scalable, cost-effective rebalancing solutions for aging EV batteries and out-of-warranty vehicles globally. These forward-looking statements reflect management's current beliefs, expectations, and assumptions as of the date of this news release, and are based on a number of factors and assumptions believed to be reasonable at the time such statements are made, including but not limited to: assumptions regarding lithium-ion battery performance and chemistry; the repeatability of Prototype 2.0 results across different EV platforms and use cases; the operational readiness of partners and service providers; the Company's ongoing contractual relationships with partners and service providers; the availability of vehicles requiring rebalancing services; and the Company's ability to refine and scale its rebalancing platform for commercial production and deployment. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to: delays in product validation or commercialization; variability in real-world vehicle performance; inability to replicate initial results; failure to secure additional commercial agreements or customers; market adoption risk; evolving regulatory conditions; manufacturing or supply chain limitations; intellectual property challenges; and general business, economic, competitive, political, or social uncertainties. There can be no assurance that the Company will achieve commercial adoption of Prototype 2.0, secure additional deployments or fleet partnerships, or generate revenue as anticipated. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, Battery X Metals Inc. undertakes no obligation to revise or update any forward-looking statements to reflect future events or circumstances. Additional risk factors may be found in the Company's continuous disclosure filings available under its profile at SOURCE: Battery X Metals View the original press release on ACCESS Newswire
Associated Press
12-07-2025
- Business
- Associated Press
Battery X Metals Engages U.S. Investment Bank to Support Strategic Path Toward Potential United States National Securities Exchange Listing Aligned with U.S. Growth Initiatives
News Release Highlights: VANCOUVER, BC / ACCESS Newswire / July 11, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W)('Battery X Metals' or the 'Company') an energy transition resource exploration and technology company, announces that it has entered into a letter agreement (the 'Agreement') and engaged a U.S.-based investment bank (the 'U.S. Investment Bank'), as its exclusive financial advisor and investment banker. Under the terms of the Agreement, the U.S. Investment Bank will provide a range of strategic advisory services in support of the Company's ongoing corporate development initiatives, including potentially uplisting to a U.S. national securities exchange such as Nasdaq Composite (Nasdaq), New York Stock Exchange (NYSE), or the NYSE American (each a 'U.S. National Securities Exchange'). The U.S. Investment Bank's mandate also includes advising on potential financing alternatives, facilitating investor access through non-deal roadshows, and assisting with structural and financial aspects of a potential listing on a U.S. National Securities Exchange, that may be mutually agreed upon by the parties. While the engagement encompasses all qualifying U.S. National Securities Exchanges, Battery X Metals has identified the Nasdaq as its preferred listing exchange. The Board of Directors and management believe that a Nasdaq uplisting aligns with the Company's long-term growth strategy, enhances visibility among U.S. institutional and retail investors, and could position Battery X Metals as a next-generation growth company focused on both U.S. and international markets. This objective is directly supported by the Company's growth initiatives across its core business verticals, including its wholly-owned subsidiary, Battery X Rebalancing Technologies Inc.'s ('Battery X Rebalancing Technologies') continued validation towards commercialization of its patent-pending lithium-ion battery cell rebalancing technology and machine. As part of Battery X Rebalancing Technologies' broader commercialization strategy, future deployment is envisioned across automotive service centers and dealership service departments, with a long-term strategic focus on the U.S. market, subject to the successful completion of ongoing product development, validation initiatives, and establishment of commercial agreements. The Company is also advancing sustainable lithium-ion battery recycling through its wholly-owned subsidiary, Battery X Recycling Technologies Inc. ('Battery X Recycling Technologies'), via an amended research collaboration agreement with a globally ranked top 20 university's Institute of Mining Engineering (the 'Global Top 20 University'), as disclosed in the Company's news release dated September 24, 2024. This research has focused on the development of proprietary froth flotation technology designed to recover battery-grade materials - including graphite, lithium, nickel, cobalt, manganese, and copper - from end-of-life lithium-ion batteries, supporting a circular battery economy. While the amended research collaboration agreement concluded on June 30, 2025, Battery X Recycling Technologies is currently reviewing the potential to enter into a new research collaboration agreement with the Global Top 20 University that would continue and expand upon the prior work. Any material developments will be disclosed in accordance with applicable securities laws. The Company is also advancing artificial intelligence (AI)-powered mineral exploration through its wholly-owned subsidiary, Battery X Discoveries Inc., via a joint venture framework established under a binding memorandum of understanding (MOU) with TerraDX Discoveries Inc. ('TerraDX') and MineMind Metals Inc., as disclosed in the Company's news release dated April 25, 2025. This initiative focuses on the exploration of battery metals in Nevada, USA, using proprietary AI targeting models to drive subsurface intelligence and accelerate critical battery metal discoveries. The AI models are designed to integrate and analyze large, complex geological datasets - often siloed and underutilized - to identify high-probability mineral targets. This data-driven approach is expected to de-risk early-stage exploration, shorten discovery timelines, and unlock new opportunities for lithium, cobalt, graphite, nickel, and manganese deposits. TerraDX is a member of the NVIDIA Inception program, which supports leading AI-focused startups through access to advanced computing infrastructure, technical expertise, and go-to-market support. This affiliation underscores TerraDX's technological leadership and further enhances the proposed joint venture's innovation profile. These initiatives collectively reflect Battery X Metals' integrated 360° strategy across the battery metals value chain - spanning exploration, rebalancing, and recycling - and reinforce its commitment to scaling next-generation solutions that support the clean energy transition. 'This engagement with the U.S. Investment Bank marks an important step as we advance Battery X Metals toward a national U.S. exchange listing,' said Massimo Bellini Bressi, CEO of Battery X Metals. 'We are confident that the U.S. Investment Bank's deep capital markets expertise and robust retail and institutional relationships will strengthen our strategic positioning and accelerate our capital markets and business growth trajectory.' Terms of Engagement As consideration for its services, Battery X Metals has agreed to issue to the U.S. Investment Bank or its designees 577,915 common shares (the 'Common Shares') in the capital of the Company, payable in four (4) equal monthly installments beginning July 20, 2025. The Common Shares will carry piggyback registration rights and the same rights afforded to other holders of the Company's Common Shares in connection with the potential listing on a U.S. National Securities Exchange. The Company further agrees to register such Common Shares as part of the registration statement filed in connection with the potential listing on a U.S. National Securities Exchange. For any financing completed through the U.S. Investment Bank, the Company will pay a cash fee equal to 7.0% of gross proceeds raised and will issue broker warrants equal to 7.0% of the securities sold. The broker warrants will have a three-year term and include customary features such as cashless exercise, anti-dilution protections, and registration rights. The exercise price will be equal to that of the securities sold in the applicable financing. In the event the Company completes a Reverse Merger, Merger, Business Combination, or other M&A-type of potential listing on a U.S. National Securities Exchange, the U.S. Investment Bank will be entitled to a success fee equal to 3.5% of the total aggregate consideration paid or received in connection with such transaction, subject to customary carve-outs. Consideration may include cash, stock, notes, the assumption or forgiveness of liabilities, and any contingent, deferred, or earn-out payments. The Company has also agreed to reimburse the U.S. Investment Bank for reasonable expenses incurred in connection with the engagement, including legal, travel, and third-party costs, subject to prior written approval. Legal fees are reimbursable up to US$125,000 if a financing is completed, and up to US$35,000 if no financing occurs. A 'Transaction' includes other strategic events introduced by the U.S. Investment Bank, such as mergers, acquisitions, joint ventures, asset sales, or strategic alliances. The engagement also grants the U.S. Investment Bank a right of first offer for a period of eighteen (18) months following the completion of any potential listing on a U.S. National Securities Exchange. If the Company proposes to engage an underwriter, placement agent, advisor, or other financial intermediary on more favourable terms in connection with a financing, it must first offer such terms to the U.S. Investment Bank in writing and the U.S. Investment Bank may accept the offer within five days. This right does not apply if the U.S. Investment Bank is terminated for cause, in the case of financings that do not involve an investment bank or financial intermediary, or for Transactions not introduced by the U.S. Investment Bank. The engagement includes customary terms regarding confidentiality, indemnification, and dispute resolution. Any potential listing on a U.S. National Securities Exchange remains subject to the Company satisfying all applicable qualitative and quantitative listing requirements of a U.S. National Securities Exchange. These requirements include, but are not limited to, achieving adequate minimum bid price, minimum shareholders' equity, free-trading public float, number of round-lot shareholders, and market capitalization thresholds, as well as obtaining all necessary approvals from the relevant exchange, regulatory authorities, and securities commissions. About Battery X Metals Inc. Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W) is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit About the U.S. Investment Bank the U.S. Investment Bank is a full-service investment banking, securities and wealth management firm headquartered in New York. The U.S. Investment Bank provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales & trading, equity research and prime brokerage services to a diverse range of corporate clients, institutional investors and high net worth individuals. the U.S. Investment Bank is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB), and is a member of the following: Financial Industry Regulatory Authority (FINRA); Securities Insurance Protection Corporation (SIPC); NASDAQ Stock Market and NYSE Arca, Inc. On Behalf of the Board of Directors Massimo Bellini Bressi, Director For further information, please contact: Massimo Bellini Bressi Chief Executive Officer Email: [email protected] Tel: (604) 741-0444 Disclaimer for Forward-Looking Information This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this release relate to, among other things: the Company's objectives, strategies, and future plans regarding the engagement of the U.S. Investment Bank; the potential uplisting of the Company's securities to a U.S. National Securities Exchange; the Company's ability to complete a potential listing on a U.S. National Securities Exchange or financing; ability to meet all applicable listing requirements of a U.S. National Securities Exchange; the anticipated timing, benefits, and outcomes of a potential uplisting or other capital markets transactions; the scope and success of advisory services provided by the U.S. Investment Bank; the potential development and commercialization and U.S. deployment of the Company's patent-pending electric vehicle battery rebalancing machine; the execution of U.S.-focused growth initiatives aligned with the Company's business strategy; the continued development of its battery recycling technologies, including the potential continuation of its research collaboration with the Global Top 20 University; the progress of its AI-powered battery metal exploration initiative in Nevada; the development and the outcome of the joint venture with TerraDX and MineMind Metals Inc.; the expected performance, integration capabilities, and effectiveness of the AI targeting models used in mineral exploration, including their ability to accelerate discoveries, de-risk early-stage projects, and identify high-probability targets; and the execution of its integrated 360° strategy across the battery metals value chain, including exploration, rebalancing, and recycling. These forward-looking statements are based on current expectations, assumptions, and projections that management believes to be reasonable as of the date of this release. However, such statements are inherently subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. These factors include, but are not limited to: the Company's ability to meet listing criteria including minimum bid price, market capitalization, public float, and shareholder distribution, in addition to the qualitative listing requirements of a U.S. National Securities Exchange; the outcome and timing of regulatory and exchange reviews and approvals; delays in the execution or structuring of any potential listing on a U.S. National Securities Exchange or financing; fluctuations in market conditions or investor sentiment; technological or commercial challenges related to product deployment; the potential limitations of AI models in geological applications, the availability and quality of geological datasets, and the ability to translate AI-generated insights into actionable exploration results; delays or setbacks in research and development programs; and general economic, regulatory, and geopolitical conditions. Forward-looking statements reflect the beliefs, assumptions, and expectations of management at the time they are made and should not be regarded as guarantees of future performance. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements and are encouraged to consult the Company's continuous disclosure filings available at for additional risk factors and further information. SOURCE: Battery X Metals press release
Associated Press
05-07-2025
- Automotive
- Associated Press
Battery X Metals Reports Estimated Driving Range Increase of 255 Kilometers Following Successful Rebalancing of Light-Duty Electric Vehicle Model with Severe Cell Imbalance, Restoring Post-Rebalance Range to 295 Kilometers in Preliminary Trial
News Release Highlights: VANCOUVER, BC / ACCESS Newswire / July 4, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W)('Battery X Metals' or the 'Company') an energy transition resource exploration and technology company, announces that further to its news release dated June 6, 2025, its wholly-owned subsidiary, Battery X Rebalancing Technologies Inc. ('Battery X Rebalancing Technologies'), has successfully completed a real-world driving trial demonstrating a significant increase in estimated driving range for a fully electric, Class 3 commercial electric vehicle, or light-duty electric vehicle (the 'Electric Truck'), following a full battery rebalancing process using the Company's patent-pending second-generation lithium-ion battery rebalancing hardware and software platform ('Prototype 2.0"). As part of its ongoing performance validation program for Prototype 2.0, Battery X Rebalancing Technologies recently conducted a series of real-world road tests on a rebalanced Electric Truck to evaluate post-rebalancing driving range and battery efficiency. The Electric Truck was supplied by an authorized Canadian distributor of the Electric Truck (the 'Electric Truck Authorized Distributor') and, as represented by the Electric Truck Authorized Distributor, had previously demonstrated a significantly degraded driving range of approximately 40 kilometers per full charge caused by significant natural cell imbalance caused by real-world conditions. In response to this battery capacity performance deficiency, Battery X Rebalancing Technologies performed a battery rebalancing procedure on the Electric Truck utilizing Prototype 2.0, as initially disclosed in the Company's news release dated June 6, 2025. During the associated rebalancing trial (the 'Rebalancing Trial'), Battery X Rebalancing Technologies successfully completed a full rebalancing process on a 144-cell lithium-ion battery pack composed of lithium nickel manganese cobalt oxide (NMC) chemistry, which had exhibited substantial imbalance attributable to real-world operating conditions. The Rebalancing Trial demonstrated complete (100%) recovery of imbalance-related capacity loss and yielded a 37.7% increase in the Rated Capacity (as defined in the June 6, 2025 news release ) of the Electric Truck's battery pack. The Results Following completion of the rebalancing procedure, Battery X Rebalancing Technologies conducted a series of controlled real-world performance evaluations (each, a 'Trial' and collectively, the 'Battery Range Performance Trials') on the Electric Truck for the purpose of assessing post-rebalancing improvements in battery range and overall energy efficiency under actual operating conditions. In the first Trial, the Electric Truck traveled a total distance of 41 kilometers, utilizing approximately 14% of its available battery capacity, while operating across a combination of highway and city driving environments. In the second Trial, the vehicle completed a distance of 107.3 kilometers while consuming approximately 35% of its battery capacity, under similarly mixed driving conditions. The third Trial, conducted exclusively under city driving conditions, demonstrated that the vehicle traveled 58.2 kilometers while utilizing approximately 21% of its available battery charge (collectively, the 'Results'). The Results demonstrate a material improvement in the estimated driving range and effective battery capacity of the Electric Truck. Specifically, post-rebalancing performance testing indicates an estimated driving range of approximately 295 kilometers per full charge under no-load conditions. These figures represent an increase of up to 255 kilometers in driving range under no-load conditions, corresponding to an approximately 637.5% improvement of battery driving range, as compared to the pre-rebalancing range of approximately 40 kilometers. The Results affirm the technical efficacy and commercial relevance of Battery X Rebalancing Technologies' proprietary rebalancing process and support its broader applicability within light-duty electric vehicle fleets and other commercial electric transportation use cases. The Electric Truck parent company has represented that the Electric Truck's expected driving range under maximum payload conditions is approximately 290 kilometers. Battery X Rebalancing Technologies' Battery Range Performance Trials yielded an estimated range of approximately 295 kilometers under no-load conditions following rebalancing. Although these figures were obtained under different load scenarios, the close alignment between the Electric Truck Authorized Distributor's reported range and the post-rebalancing estimate supports the reliability of Battery X Rebalancing Technologies' testing methodology. Furthermore, the Results underscore the potential of Battery X Rebalancing Technologies' rebalancing process to restore battery performance to levels consistent with the high end of manufacturer-reported specifications. The Battery Range Performance Trials were performed under no-load conditions; it is relevant to note that payload can have an effect on energy consumption and overall driving range. This consideration is consistent with widely recognized industry dynamics and is disclosed to provide a complete and transparent understanding of factors that may influence real-world vehicle performance. Range may vary based on payload, terrain, driving behavior, and other operational conditions. These performance outcomes further validate the effectiveness and market relevance of Battery X Rebalancing Technologies' proprietary rebalancing solution in restoring degraded battery capacity and materially extending the remaining useful life of commercial electric vehicle batteries. The Company believes these results provide compelling technical validation in support of Prototype 2.0's broader commercial deployment, particularly in fleet environments where range reliability, battery lifespan longevity, and total cost of ownership are mission-critical considerations. Significance of Results & Market Opportunity for the Electric Truck The Results of the Rebalancing Trial and the Battery Range Performance Trials collectively demonstrate that Prototype 2.0 is capable of effectively rebalancing lithium-ion battery packs exhibiting significant, naturally occurring cell imbalance. This successful outcome builds upon previously disclosed validation milestones achieved by Battery X Rebalancing Technologies, including third-party technical validation conducted by the National Research Council of Canada (as referenced below), as well as the Company's news release dated May 30, 2025, announcing the successful rebalancing of a naturally imbalanced Nissan Leaf battery pack-the second most common out-of-warranty electric vehicle platform in the United States. Importantly, the Results not only validate the technical efficacy of Prototype 2.0 in an Electric Truck application, but also demonstrate its potential to recover substantial lost battery capacity resulting from cell imbalance. This performance reinforces the relevance of the Company's patent-pending technology in practical, real-world scenarios and highlights the broader need for scalable, cost-effective battery recovery solutions. The Battery Range Performance Trials further substantiates the commercial viability of Prototype 2.0 as a solution to extend the remaining useful life of aging battery packs in commercial electric vehicle fleets. The Electric Truck and associated Electric Truck battery pack were supplied to Battery X Rebalancing Technologies at no cost for testing and evaluation by the Electric Truck Authorized Distributor, who advised that it owns and operates a fleet of approximately 20 Electric Trucks (the 'Electric Truck Fleet'). According to the Electric Truck Authorized Distributor, multiple vehicles within the Electric Truck Fleet have exhibited material battery degradation and capacity loss attributable to cell imbalance. The Rebalancing Trial and the Battery Range Performance Trials were undertaken in response to the Electric Truck Authorized Distributor's request for a viable alternative to full battery replacement, which it advised may be financially prohibitive on a fleet-wide basis. The objective of the Rebalancing Trial and the Battery Range Performance Trials was to determine whether Prototype 2.0 could effectively restore functional battery performance in a degraded battery unit sourced from the Electric Truck Fleet. Upon successful rebalancing, the Battery Range Performance Trials further aimed to quantify the extent of recovered battery capacity in terms of estimated driving range. The positive Results are expected to inform and support ongoing discussions with the Electric Truck Authorized Distributor regarding the potential deployment of the rebalancing solution across its broader fleet, with the goal of extending battery life and mitigating the operational and financial impact of premature battery replacements. Battery X Rebalancing Technologies has been informed by the Electric Truck Authorized Distributor that a substantial number of similar electric trucks are currently in operation across various markets, including those held by the Electric Truck's parent company, authorized distributors, commercial fleet operators, and private owners. Many of these vehicles are reportedly experiencing battery degradation symptoms consistent with cell imbalance. This feedback underscores a broader market opportunity for Battery X Rebalancing Technologies to provide a scalable, cost-effective rebalancing solution aimed at extending battery life and reducing total cost of ownership for commercial EV stakeholders. In conjunction with the Rebalancing Trial and the Battery Range Performance Trials, Battery X Rebalancing Technologies is currently advancing the development of standardized operating procedures ('SOPs') tailored to the Electric Truck Battery Pack, in addition to refining user interface and workflow enhancements within Prototype 2.0. The Company is also actively pursuing a commercial manufacturing agreement to support scalable production and deployment of its rebalancing platform. These activities are intended to further the Company's broader commercialization strategy, which is not limited to any single third-party opportunity. The Electric Truck-specific SOPs, however, are being developed in direct response to the successful Battery Range Performance Trials and the interest expressed by the Electric Truck Authorized Distributor. There can be no assurance that Battery X Rebalancing Technologies will enter into any definitive commercial arrangement with the Electric Truck Authorized Distributor or any other third party at this time. While the Company remains encouraged by the Rebalancing Trial and the Battery Range Performance Trials, which demonstrate an apparent need in the marketplace, any future commercial arrangement will be subject to further technical validation, negotiation of mutually acceptable terms, and completion of all necessary operational readiness milestones. The Problem: Rising EV Adoption Presents New Battery Lifecycle Challenges In 2024, global EV sales reached approximately 17.1 million units, representing a 25% increase from 20231. With cumulative global EV sales from 2015 to 2023 totaling an estimated over 40 million units2, a significant share of the global EV fleet is expected to exit warranty coverage over the coming years. By 2031, nearly 40 million electric, plug-in hybrid, and hybrid vehicles worldwide are anticipated to fall outside of their original warranty coverage3,4. This projection is based on current EV adoption figures and standard industry warranty terms, and underscores a growing risk for EV owners facing battery degradation, reduced capacity, and costly replacement requirements5. As the global EV fleet continues to expand, the demand for technologies that extend battery life, reduce long-term ownership costs, and support a sustainable transition to electric mobility is increasing. The Solution: Pioneering Next-Generation Technologies to Support Lithium-Ion Battery Longevity Battery X Rebalancing Technologies' proprietary software and hardware technology aims to address this challenge by extending the lifespan of EV batteries. This innovation is being developed with the aim to enhance the sustainability of electric transportation and the goal to provide EV owners with a more cost-effective, environmentally friendly ownership experience by reducing the need for costly battery replacements. Battery X Rebalancing Technologies' rebalancing technology, validated by the National Research Council of Canada ('NRC'), focuses on battery cell rebalancing. The NRC validation demonstrated the technology's ability to effectively correct cell imbalances in lithium-ion battery packs, recovering nearly all lost capacity due to cell imbalance. The validation was conducted on battery modules composed of fifteen 72Ah LiFePO₄ cells connected in series. The cells were initially balanced to a uniform state of charge (SOC), with a measured discharge capacity of 71.10Ah. In the validation test, three of the fifteen cells were then artificially imbalanced-one cell was charged to a 20% higher SOC, and two cells were discharged to a 20% lower SOC-resulting in a reduced discharge capacity of 46.24Ah, following rebalancing using Battery X Rebalancing Technologies' rebalancing technology. These advancements establish Battery X Rebalancing Technologies as a participant in lithium-ion and EV battery solutions, aiming to tackle the critical challenges of capacity degradation of battery packs and expensive replacements. By extending the lifecycle of battery materials within the supply chain, Battery X Rebalancing Technologies aims to support the energy transition and promote a more sustainable future. 1 Rho Motion - Global EV Sales 2024, 2 IEA Global EV Outlook 2024, 3 IEA, 4 U.S. News, 5 Recurrent Auto About Battery X Metals Inc. Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W) is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit On Behalf of the Board of Directors Massimo Bellini Bressi, Director For further information, please contact: Massimo Bellini Bressi Chief Executive Officer Email: [email protected] Tel: (604) 741-0444 Disclaimer for Forward-Looking Information This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements in this release relate to, among other things: the estimated driving range improvements for the Electric Truck under no-load and maximum payload conditions following the rebalancing procedure; the interpretation and implications of the Battery Range Performance Trials and the Rebalancing Trial; the technical capabilities and commercial potential of Prototype 2.0, including its ability to restore battery capacity and address cell imbalance in lithium-ion battery packs; the applicability of the technology to Class 3 electric trucks and other commercial electric vehicle platforms; the alignment between test results, manufacturer specifications, and industry standards; potential discussions and future commercial arrangements with the Electric Truck Authorized Distributor; the scale and condition of the Electric Truck Fleet; the development and implementation of standardized operating procedures (SOPs); user interface enhancements; the possibility of entering into a commercial manufacturing agreement; the broader market demand for cost-effective rebalancing solutions; the number of similar electric trucks currently in operation across various markets; the owners and holders of similar electric trucks; the battery degradation symptoms and potential state of cell imbalance of similar electric trucks; the potential market opportunity to be derived from similar electric trucks; and the Company's strategic objective to extend battery life and reduce total cost of ownership for commercial electric vehicle operators. These forward-looking statements reflect management's current expectations, estimates, projections, and assumptions as of the date of this news release and are based on a number of factors and assumptions believed to be reasonable at the time such statements are made, including without limitation: assumptions regarding battery chemistry behavior; repeatability of rebalancing results across similar battery packs and vehicle platforms; the continued accuracy of data provided by third-party distributors; the Company's ability to develop, test, and manufacture Prototype 2.0 at scale; and the successful negotiation and execution of commercial agreements and manufacturing agreements. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to: technical challenges in product validation or scalability; variability in battery performance across different conditions and chemistries; inability to replicate test results in other environments; delays or failures in entering into commercial or manufacturing agreements; lack of customer adoption; supply chain limitations; regulatory, legal, or operational constraints; and risks generally associated with early-stage clean technology companies. There can be no assurance that the Company will enter into any commercial arrangement with the Electric Truck Authorized Distributor or any other third party, that Prototype 2.0 will achieve commercial adoption, or that Battery X Metals Inc. or Battery X Rebalancing Technologies Inc. will realize any revenue from the initiatives described herein. Readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by applicable securities laws, Battery X Metals Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Investors are encouraged to consult the Company's continuous disclosure filings available under its profile at for additional risk factors and information. SOURCE: Battery X Metals press release
