American Manganese Provides Update on RecycLiCo Demonstration Plant

Rhea-AI Summary

American Manganese Inc. (AMYZF) announced significant updates regarding its RecycLiCo demonstration plant, which targets upcycling lithium-ion battery waste. Since the project’s initiation in March 2021, a $2.7 million contract with Kemetco Research has facilitated progress in design and equipment acquisition, aiming for a processing capacity of 500 kg/day. The company successfully completed a $20 million private placement, enhancing its financial positioning. The demonstration plant is geared towards attracting collaboration with potential industry partners to advance commercial recycling capabilities.

Positive

• Successful completion of a $20 million private placement strengthens financial position for commercialization.
• RecycLiCo demonstration plant aims for a processing capacity of 500 kg/day, enhancing waste upcycling efficiency.
• Partnership with Kemetco Research accelerates development and potential commercialization of patented recycling process.

Negative

• None.

SURREY, BC / ACCESSWIRE / October 20, 2021 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) ("AMY" or the "Company"), a pioneer in advanced lithium-ion battery cathode upcycling, and its independent R&D contractor Kemetco Research Inc. ("Kemetco"), are pleased to provide an update on the RecycLiCo demonstration plant project and the Company's strategy towards commercialization.

3D Rendering of the RecycLiCo Demonstration Plant

The RecycLiCo demonstration plant planning and preparation began in March 2021 following the $2.7 million contract signed between American Manganese and Kemetco Research. Development work to date includes process flow sheet design, mass balance modelling, and equipment orders to match the planned 500 kg/day processing capacity of lithium-ion battery cathode waste. The Company anticipates the arrival of purchased major equipment throughout the remainder of 2021, including demonstration plant construction.

Located in Greater Vancouver, Canada, the fully integrated and continuous RecycLiCo demonstration plant has been designed to simulate real-world operating conditions. One of the critical evaluation activities required to strengthen investment in American Manganese's future commercial recycling plans with potential strategic partners.

"With multiple patents, technical publications, and rigorous testing, American Manganese sets itself apart with its methodical approach in developing RecycLiCo as an advanced lithium-ion battery cathode upcycling process, and it gives me confidence in future scale-up efforts," commented Larry Reaugh, President and CEO of American Manganese. "The demonstration plant provides a tool for licensing or joint developing our RecycLiCo patented process with potential industry leaders."

Most of the existing commercial recycling facilities treat end-of-life batteries using rudimentary methods, producing low-value products without further processing. Fortunately, the current global inventory of end-of-life batteries is in its infancy. The RecycLiCo demonstration plant plans to support the knowledge gap in developing commercial hydrometallurgical recycling facilities that recover high-quality, value-added battery materials.

"American Manganese's successful $20 million private placement came at an opportune time, given the current market conditions, and it puts the Company in a favourable position toward its road to commercialization. As part of the private placement, officers and directors of American Manganese have agreed to a 90-day share lock-up period," added Larry Reaugh.

About Kemetco Research Inc.

Kemetco Research is a private sector integrated science, technology, and innovation company. Their Contract Sciences operation provides laboratory analysis and testing, field work, bench scale studies, pilot plant investigations, consulting services, applied research and development for both industry and government. Their clients range from start-up companies developing new technologies through to large multinational corporations with proven processes.

Kemetco provides scientific expertise in the fields of Specialty Analytical Chemistry, Chemical Process and Extractive Metallurgy. Because Kemetco carries out research in many different fields, it can offer a broader range of backgrounds and expertise than most laboratories.

About American Manganese Inc.

American Manganese Inc. is a critical minerals company focused on upcycling lithium-ion battery waste into high-value battery cathode materials using its RecycLiCo™ process. With minimal processing steps and up to 99% extraction of lithium, cobalt, nickel, and manganese, the upcycling process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-ion batteries.

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.

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https://www.accesswire.com/668827/American-Manganese-Provides-Update-on-RecycLiCo-Demonstration-Plant

FAQ

What is the significance of the October 2021 update from American Manganese (AMYZF)?

The update highlights progress in the RecycLiCo demonstration plant project, focusing on lithium-ion battery waste upcycling and commercial viability.

What is the processing capacity of the RecycLiCo demonstration plant?

The demonstration plant is designed for a processing capacity of 500 kg/day of lithium-ion battery cathode waste.

How much funding did American Manganese secure for its project?

American Manganese secured $20 million through a private placement to support its commercialization efforts.

What role does Kemetco Research play in American Manganese's project?

Kemetco Research is an independent contractor assisting in the development and planning of the RecycLiCo demonstration plant.

What are the goals of the RecycLiCo demonstration plant?

The goals include simulating real-world conditions for battery recycling and attracting strategic partners for commercialization.