American Manganese Inc (CVE:AMY) (OTCMKTS:AMYZF) announced Wednesday that it has launched its RecycLiCo Patented Process, which represents a breakthrough in the recycling of lithium-ion batteries.
RecycLiCo provides high extraction of cathode materials suh as lithium, cobalt, nickel and manganese at battery-grade purity. The process involves minimal steps, ensuring a high-grade, low-cost output.
"As pioneers in the advanced lithium-ion battery recycling market, American Manganese and its RecycLiCoTM Patented Process aim to promote a circular economy for the lithium-ion battery supply chain and set the standard for high recovery and purity of cathode materials from spent lithium-ion batteries," said Larry Reaugh, president and CEO of American Manganese, in a statement.
The Surrey-based company is focused on supplying the demand for mined battery raw materials, creating intellectual property to develop its patented lithium-ion battery recycling process.
RecycLiCo is the culmination of this process, the junior company said in a statement.
The technology is currently being tested on a pilot plant scale, with recent results from the pilot plant showing high extraction rates.
Upon completion of the process, American Manganese plans to commercialize its operation with a joint venture partner or through licensing agreements.
Shares of American Manganese closed Tuesday at C$0.15 in Canada and US$0.10 in the US.
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