Critical metals group American Manganese Inc (CVE:AMY) (OTCMKTS:AMYZF) has reached a major milestone - getting notice that it will receive a patent for its innovative lithium-ion battery recycling technology.
As revealed last month, the group said it expects to commission its pilot plant for scrap cathode metal during the week of December 17.
The Surrey, British Columbia-based company plans to carry out tests of its handling of cathode scrap acquired from a US recycler.
Cathode scraps are a predictable current source of material, which is ideally suited for commercialization of the firm's recycling technology.
The firm said Friday, the "notice of allowance" indicated that the examination of the invention has been completed by the US patent and trademark office and allowed for issuance as a patent.
"Allowance of this patent is a significant milestone for the company as the invention is now secured as a key asset that can be exclusively capitalized," said Larry W. Reaugh, the CEO of American Manganese.
"The U.S. Patent examiner deemed AMY's technology is "novel" and "inventive" as it enables the recycling of valuable cathode metals (namely cobalt, nickel, manganese, aluminium and lithium) while converting these materials back to fresh cathode materials for the manufacture of new lithium-ion batteries.
"American Manganese recognized early on that significant growth in the electric vehicle market will eventually lead to supply strains in materials used to make lithium-ion batteries."
Reaugh added: "That effective recycling of end of life lithium-ion batteries is a key aspect of achieving a sustainable circular economy".
American Manganese had contracted Kemetco Research for the research program to develop the technology.
The patent allows for and includes treatment of several chemistries such as lithium cobalt oxide (LCO), lithium nickel manganese cobalt oxide (NMC) and lithium nickel cobalt aluminium oxide (NCA).
Also methods for achieving 100% recoveries of cobalt, nickel, manganese, aluminium for all cathode chemistries tested.
Kemetco also plans to file for continuing patent applications on work recently completed that complements the current technology.
Shares in Toronto advanced over 14% to $0.16 on Friday.
Contact Giles Gwinnett at [email protected]
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