09:18 AM EDT, 03/18/2025 (MT Newswires) -- Full Circle Lithium ( FCLIF ) said Tuesday that it will collaborate with Japan's ITOCHU to bring Full Circle's FCL-X lithium-ion battery fire-extinguishing agent to Japanese and Korean markets.

The companies aim to seal a final binding agreement after certain customary due-diligence items are confirmed. The agreement may be expanded into additional Asian countries beyond Japan and Korea, Full Circle added.

Under the terms, Full Circle may provide exclusive license and/or distribution rights for a specific term to ITOCHU to market and distribute certain forms of FCL-X and potentially establish an optimal manufacturing system of FCL-X products in the region, which may include the establishment of a jointly owned special purpose vehicle.

FCL-X agent is a water-based solution that neutralizes complex chemical reactions, creating a protective layer on the surface of materials containing elemental lithium.

Full Circle's share price rose 4% on Monday to $0.395 on the TSXV.