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June 27, 2023

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Nth Cycle

FAIRFIELD, Ohio-- Nth Cycle, the innovative critical metals extraction and recycling company, announced today the commissioning of a 21,000-square-foot refining facility in Fairfield, Ohio.

The new facility will feature Nth Cycle's electro-extraction technology which will recover the outputs of metal scrap, electronics waste, untapped mining resources and refinery waste into critical metal products including nickel and cobalt through its premium Mixed Hydroxide Precipitate (MHP) product. Nth Cycle's MHP, produced from its patented electro-extraction processor named "the OYSTER," yields unprecedented metal and mineral purity with the highest concentration of nickel hydroxide and cobalt hydroxide available.

Until now, there has been no domestic production of MHP in the United States, with battery manufacturers instead relying on inconsistent supply and quality from unstable countries with questionable working and environmental conditions. Nth Cycle's MHP initiative helps eliminate that risk to Original Equipment Manufacturers (OEM) while producing a product of over 90% of nickel and cobalt, versus 30-40% nickel and only 1-6% cobalt (as per Fastmarkets MHP Index), which is typical of the currently-sourced product. Nth Cycle's refining process could also reduce the associated production of greenhouse gasses by more than 90%, versus traditional mining processes and fulfills the domestic sourcing and recycled content compliance requirements of the Inflation Reduction Act. Nth Cycle also creates a new and verifiable standard with its MHP product in a market that lacks established criteria for purity and concentration of its essential elements.

"As the world becomes increasingly reliant on the critical metals that are the backbone of an electrified economy, it's clear the sourcing of those materials must be as clean and efficient as the future we imagine," said Megan O'Connor, co-founder and CEO of Nth Cycle. "A clean, unfettered and cost-efficient supply chain of Nickel and Cobalt, or MHP, not only accelerates our path to that future, but it establishes the U.S. as a global leader in that movement."

Electro-extraction is a cleaner and more efficient alternative to conventional and dirty pyrometallurgy (or smelting) operations currently deployed by metal scrap recyclers and mining companies. Nth Cycle's OYSTER system also is modular, enabling an ability to co-locate at customer sites, eliminating the need to emit more emissions to transport the metal waste or low-grade ore for refining. This will allow the company or OEM to manage its own waste and return the advanced material directly to the manufacturing line.

"We are thrilled to welcome Nth Cycle to our community," said Fairfield's Mayor, Mitch Rhodus. "Fairfield industries have been involved in automotive manufacturing since our founding, and we are excited to continue to be part of the innovation occurring with electric vehicles. Nth Cycle will be a great complement to our strong industrial sector."

"Nth is poised to make history as the first U.S.-based minerals and metal manufacturer, a key requirement for domestic production through the Inflation Reduction Act. This is great news for American industry, the electric vehicle revolution, energy storage supply chain and the creation of new jobs," Elemental founder and CEO, Dawn Lippert said. "We're thrilled to be backing Nth Cycle for a second time and to contribute to its next phase of growth."

About Nth Cycle
Nth Cycle is a metal refining company focused on reduction opportunities across the metal supply chain. Our patented electro-extraction technology provides a sustainable solution for OEMs, miners and scrap recyclers to reduce waste, emissions, supply chain constraints and the time needed to electrify our world. Nth Cycle's unique refining technology transforms metal feedstock including scrap, e-waste, tailings, ore and end-of-life electronics into high-purity critical metals within a modular unit, aptly named The OYSTER. Nth Cycle empowers our partners to bridge the gap between demand and supply of the metals necessary to transform our world and keep critical metals in production forever.

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