American Manganese Inc. Receives Funding to Advance Lithium-ion Battery Recycling Project

Rhea-AI Summary

American Manganese Inc. (TSXV:AMY, OTC PINK:AMYZF) has launched a project to advance its lithium-ion cathode recycling technology, RecycLiCo, with support from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). The project, running from November 4, 2020, to March 31, 2021, aims to conduct a technical feasibility study on synthesizing cathode material precursors from recycled battery scrap. With a new specialized reactor, the company aims to produce high-value cathode products while enhancing its intellectual property and competitive edge in the recycling sector.

Positive

• Secured funding and support from NRC IRAP for research and development.
• Aims to produce high-value cathode material with fewer processing steps.
• Possesses existing patents that enhance recycling efficiency and product purity.

Negative

• None.

SURREY, BC / ACCESSWIRE / November 19, 2020 / American Manganese Inc. (TSXV:AMY)(OTC PINK:AMYZF)(FSE:2AM) ("AMY" or the "Company") is pleased to announce the launch of a project focused on advancing the Company's lithium-ion cathode recycling technology (RecycLiCo™) with support from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).

NRC IRAP will provide advisory services and conditional funding to support American Manganese's research and development project on the Synthesis of Cathode Material Precursors from Recycled Battery Scrap between November 4, 2020 and March 31, 2021.

The main objective of the project is to conduct a technical feasibility study on the synthesis of cathode material precursors with specific particle parameters. American Manganese also acquired a specialized cathode precipitation reactor to achieve the Company's objective in producing high-value final cathode products with the least amount of processing steps, as discussed in the November 6, 2020 news release.

"We are proud to receive this support from NRC IRAP and we believe this project will continue to build on the success of our pilot plant project and intellectual property," said Larry Reaugh, President and CEO of American Manganese. "We are thrilled to kick-off this project on the production of cathode precursor materials. Our existing patents, for recycling lithium-ion cathode material, offers high extraction and purity potential and this project's intellectual property development could continue to strategically differentiate the Company's commercial offering."

Cathode material used in the electric vehicles industry such as, lithium nickel manganese cobalt oxide (NMC) and lithium cobalt aluminum oxide (NCA) have strict material quality parameters. The production of these modern cathodes from raw materials is a highly specialized and energy-demanding process, but the successful production of these materials is a significant value-added step. Therefore, it is the goal of this project to enable American Manganese's process to efficiently and directly recycle cathode scrap material into cathode material precursor to maximize the value of the recycled product.

About American Manganese Inc.

American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ Patented Process. This process provides high extraction of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum at high purity, with minimal processing steps. American Manganese Inc. aims to commercialize its breakthrough RecycLiCo™ Patented Process and become an industry leader in recycling cathode materials from lithium-ion battery manufacturing waste.

On behalf of Management

AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
Email: lreaugh@amymn.com

www.americanmanganeseinc.com
www.recyclico.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

SOURCE: American Manganese Inc.

View source version on accesswire.com:
https://www.accesswire.com/617454/American-Manganese-Inc-Receives-Funding-to-Advance-Lithium-ion-Battery-Recycling-Project

FAQ

What is American Manganese Inc. focusing on with its latest project?

American Manganese Inc. is focusing on advancing its lithium-ion cathode recycling technology, RecycLiCo, through a project funded by NRC IRAP.

How long will the American Manganese project run?

The project will run from November 4, 2020, to March 31, 2021.

What is the objective of American Manganese's new project?

The objective is to conduct a technical feasibility study on synthesizing cathode material precursors from recycled battery scrap.

What innovation has American Manganese acquired for its project?

American Manganese has acquired a specialized cathode precipitation reactor to facilitate the production of high-value final cathode products.

What type of support is American Manganese receiving from NRC IRAP?

American Manganese is receiving advisory services and conditional funding from NRC IRAP to support its research and development project.