Full Circle Lithium Corp. (FCL), a USA-based lithium-ion specialty firefighting agent manufacturer, has announced that FCL and ITOCHU Corporation (ITOCHU) have signed a Memorandum of Understanding (MoU) to collaborate in bringing FCL-X to Japanese and Korean markets initially.

ITOCHU is one of Japan's largest companies with an extensive portfolio which includes sales and marketing of lithium-ion battery material, production equipment, and applications such as energy storage systems (ESS) and energy management software and services. Given its battery-related business, ITOCHU approached FCL as it is acutely aware of the need to provide global and more specifically the Asian battery market with an effective, efficient, non-hazardous, and environmentally friendly fire extinguishing battery fire solution.

"FCL is extremely pleased to welcome ITOCHU as a partner to help open up the Asia market for our FCL-X™ portfolio of products. ITOCHU's local knowledge as well as its portfolio of LiB products and services is very important for us. Ensuring a diversification of partners and end-users locally, regionally, and globally, will allow us to quickly put this important tool in the hands of those that may need it to fight dangerous battery fires. With ITOCHU we add another partner in our rapidly expanding ecosystem towards our ambition of providing one of the world's most effective and efficient lithium-ion battery extinguishing agent in Asia," says Carlos Vicens the CEO and Founder of FCL.

The MoU provides for both FCL and ITOCHU, an exclusive time to negotiate a final binding agreement after certain customary due-diligence items are confirmed during the initial phase of the MoU.