American Manganese Inc (CVE:AMY) (OTCMKTS:AMYZF) revealed it has received cathode and anode materials from disassembled electric vehicle (EV) batteries, which will now be treated with its ground-breaking recycling process.
It is part of a US government project, which was announced in March this year, aimed at advancing the recovery of lithium-ion battery materials from EVs and other products.
The project is backed by the Critical Materials Institute (CMI), an energy innovation hub, and supported by the US Department of Energy, office of energy efficiency and renewable energy, advanced manufacturing office.
“We’re pleased with the progression of project milestones and are honored to be working with world-renowned national labs and leading US universities,” said Larry Reaugh, the CEO of American Manganese on Tuesday.
The company boss added that the project was "on time and on track”.
The findings after the material is treated with American Manganese’s RecycLiCoTM patented process will be reported to all members of the project.
Other partners in the project include the Oak Ridge National Laboratory and the Idaho National Lab (INL).
British Columbia-based American Manganese has a patent-approved process for recovering metals from lithium-ion batteries such as cobalt, lithium, nickel, manganese, and aluminum.
These materials are experiencing rapidly rising demand as the transition to electric vehicles accelerates.
It's a busy spell for American Manganese. Last week it reported positive progress from testing, telling investors that a high purity, 99.88%, NMC (nickel manganese cobalt) cathode material had been produced using the technology at its pilot plant.
"Cathode materials require extremely high purity levels and must be almost entirely free of unwanted metals in order to conform to industry specifications, which our initial results confirmed today," Reaugh had said.
"We continue to develop and be transparent with our results in order to set the benchmark on recovery and purity potential in the lithium-ion battery recycling field," he added.
Shares in Toronto stood at $0.15.
Contact the author at [email protected]
Follow him on Twitter@Gile74
---Updates for share price--