FREE

FCLI: Ramping Manufacturing Ahead of Retail Launch

What you need to know:
• FCLI announced that its manufacturing plant is now operating at full capacity for its extinguisher segment.
• This comes ahead of its broader launch into retail channels, including major home improvement and specialty retail outlets in North America.
• There have also been several other updates over the last month, which we summarize in the note below.
• We recently interviewed CEO Carlos Vicens; watch the full interview here and read our initiation report on FCLI here.

This morning, Full Circle Lithium (FCLI:TSXV, FCLIF:OTCQB, K0Q:FSE) announced that its FCL-X lithium battery fire extinguisher manufacturing plant is now operating at full capacity for the extinguisher segment. This comes ahead of its broader launch into retail channels in April. There have also been several other updates over the last month, which we cover below. We are maintaining our BUY rating and our $0.60/share target price on FCLI.

Extinguishers Segment Operating at Full Capacity
FCLI has ramped up manufacturing in anticipation of its rollout of FCL-X extinguishers to retail consumers across major home improvement and specialty retail outlets in North America. Management stated that this will ensure that it can meet the upcoming retail demand and that it is their view that every household or workplace with lithium-powered devices should be properly equipped. The retail launch will be supported with consumer education initiatives focused on safe battery handling, proper charging practices, storage awareness, and emergency preparedness. The Company also mentioned that there has been a significant push into industrial and commercial end-users for larger-format extinguishers. Lastly, FCLI stated that it continues to plan and develop its burn and training facility for live burn testing, first-responder training programs, and OEM validation initiatives, creating a centralized hub for manufacturing, product testing, and lithium safety advancement.