RecycLiCo Batter - AMYZF STOCK NEWS

American Manganese Inc. announces the passing of Larry W. Reaugh, its founder, CEO, and President, who was pivotal in transforming the company into a leader in the battery recycling industry. In light of this loss, the board has appointed Zarko Meseldzija as interim CEO, Shaheem Ali as a director, and Paul Hildebrand as interim Chair. The company aims to continue Reaugh's vision in advancing its innovative lithium-ion battery recycling process, which boasts up to 100% extraction of valuable materials.

American Manganese Inc (AMYZF) announced that its demonstration plant achieved over 99% extraction of lithium, nickel, cobalt, and manganese from lithium-ion battery production scrap. Conducted with R&D partner Kemetco Research, the leach stage testing focused on optimizing conditions for future commercial plant design. This successful extraction is pivotal for establishing a closed-loop supply chain for battery manufacturers, enhancing the appeal of recycling initiatives as battery materials become increasingly valuable. This development is significant as it aligns with environmental goals and market demands.

American Manganese Inc. (OTCQB:AMYZF) has reported a significant reduction in carbon-dioxide emissions from its RecycLiCo battery recycling process compared to traditional lithium production methods. According to a life cycle assessment conducted by Minviro Ltd., the RecycLiCo process emits only 3.3 kg of CO₂ for every kilogram of lithium hydroxide monohydrate produced, compared to 12.7 kg by conventional mining. This reduction could potentially avoid around 40,570 tonnes of CO₂ emissions for every 100,000 electric vehicle batteries made using this recycled material.

American Manganese Inc. (AMYZF) has achieved over 99% lithium recovery from LFP battery cathode materials during bench-scale tests, demonstrating its advanced recycling capabilities. This achievement follows prior successes in extracting lithium from various chemistries, including NMC and LMO. The company seeks to expand its market presence amidst rising lithium prices, which have increased by more than 350% year-over-year. With plans to collaborate with strategic partners in the electric vehicle sector, American Manganese aims to enhance its patented recycling process.

American Manganese Inc. (OTCQB:AMYZF) commends the climate-focused Critical Mineral provisions within the recently signed Inflation Reduction Act. The bill introduces a 10% advanced manufacturing production tax credit and allocates over $60 billion to promote renewable energy manufacturing in the U.S. Key elements include tax credits for electric vehicles, contingent on the sourcing of battery materials. The act also emphasizes domestic production of essential battery materials, aligning with American Manganese's patented recycling processes that enhance battery material sustainability.

American Manganese Inc (AMYZF) reported significant progress in its RecycLiCo Battery Materials demonstration plant, achieving 163% of its designed processing capacity of 500 kg/day for lithium-ion battery cathode scraps. This result stems from the effectiveness of the patented process and optimized parameters that will inform the design of a future commercial plant. The company plans to continue sharing updates on the demonstration plant's staged tests, underscoring its commitment to enhancing economic and environmental outcomes in battery recycling.

American Manganese Inc (AMYZF) announced receiving advisory services and funding from the National Research Council of Canada’s Industrial Research Assistance Program (NRC IRAP) to conduct a feasibility study. This study will focus on removing fluoride from black mass, a material generated during lithium-ion battery recycling that contains lithium, nickel, and other metals but also harmful impurities like fluoride. The funding will facilitate the optimization of the company's recycling technology, aiming for improved efficiency in processing this material.

American Manganese Inc (TSX.V:AMY, OTCQB:AMYZF, FSE:2AM) held its 2022 Annual General and Special Meeting, where shareholders re-elected directors Larry W. Reaugh, Andris Kikauka, Edward Skoda, Paul Hildebrand, and Zarko Meseldzija for the coming year. The meeting also marked the retirement of Norman Tribe, a director since 2014. A significant resolution was passed to change the company’s name to RecycLiCo Battery Materials Inc., pending TSX Venture Exchange approval. The firm expressed gratitude towards Mr. Tribe for his contributions.

American Manganese Inc (OTCQB:AMYZF) will participate in the UBS Energy Transition Call Series on July 21, 2022, at 11:00 am ET. Zarko Meseldzija, CTO and Director, will share insights on RecycLiCo Battery Materials' technology in lithium-ion battery recycling. The discussion will cover current industry trends, challenges, and opportunities. Pre-registration is required to join the call. American Manganese focuses on recycling lithium-ion battery waste, achieving over 99% extraction of key materials.