- American Manganese Inc. (AMY) has received funding from the National Research Council of Canada Industrial Research Assistance Program
- The funding is to help further the company’s development of a lithium-ion battery recycling plant in North America and Europe
- The project is being co-operatively pursued by American Manganese Inc. and Battery Safety Solutions
- The proposed plant will utilise American Manganese’s patented “RecycLiCo” process to extract cobalt, lithium, nickel, manganese and aluminium from drained lithium-ion batteries
- American Manganese Inc.’s (AMY) is up 7.32 per cent, with shares currently selling at C$0.22
American Manganese Inc. (TSXV: AMY) announced today that is has received government funding to develop a lithium-ion battery re-cycling project.
The funding was granted by the National Research Council of Canada Industrial Research Assistance Program and though no amount was declared, the company also stated that the council will also act in an advisory capacity during the project.
Larry Reaugh, President and CEO of American Manganese, said he was proud to have received the funding.
“We believe American Manganese and Battery Safety Solutions are an excellent match for creating a complete life-cycle material recovery solution for spent and damaged lithium-ion batteries,” he said.
American Manganese Inc. is developing the project with Battery Safety Solutions B.V.
The proposed recycling plant will be able to extract cobalt, lithium, nickel, manganese and aluminium from drained lithium-ion batteries.
The extracted metals will be battery-grade in quality and therefore can be re-sold to ion battery manufactures.
American Manganese Inc. currently holds the patent for the “RecycLiCo” process, which produces the high-grade recycled metals.
At the moment the company is interested commercialising this process by first developing a demonstration recycling plant in Europe and North America.
American Manganese Inc.’s (AMY) is up 7.32 per cent, with shares currently selling at C$0.22.