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Recycling Lithium Ion EV Battery Cathode Materials Underway at Kemetco Research Inc.
Vancouver, BC (FSCwire) - Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (AMY or the Company), (TSX.V: AMY; Pink Sheets: AMYZF; Frankfurt: 2AM), is pleased to announce that Kemetco Research Inc. has begun proof of concept testing of the Companys proprietary hydrometallurgical process for the recycling of cathode materials, specifically lithium cobalt, the battery chemistry currently used by Tesla for the Model S.
Mr. Norman Chow, President of Kemetco Research Inc., says: There are approximately 400,000 vehicles on the Tesla Model 3 waiting list. Each vehicle will have a 60 kWh battery pack, so approximately 24,000,000 kWh (24 GWh) will be required to power these 400,000 vehicles.
One kilogram of lithium cobalt oxide cathode material holds 0.588 kWh. As such, about 40,816,327 kg of cathode materials will be required to meet this initial 24 GWh demand. Eventually all these batteries will reach their end of life, creating an enormous disposal problem and an incredible opportunity for AMY.
The opportunity here is to capitalize on not only the initial orders but also the on-going future orders using a new clean technology to treat this waste (the spent batteries) as a renewable resource. AMYs process, once proven, will be more economical and environmentally friendly than opening new mines and treating mined ores that contain a fraction of a percent of the target minerals, says the Companys President and CEO, Mr. Larry Reaugh. In addition to the on-going proof of concept testing, the Company is developing new technology and know-how for this application from its existing patented and proprietary intellectual property.
About Kemetco Research Inc.
Kemetco Research Inc. is a privately owned contract research and development company specializing in extractive metallurgy, chemical processing and specialty chemical analysis. It was formed after the acquisition of the industrial process division of B.C. Research, which had been in operation for over 60 years as a research and development contractor in British Columbia.
About American Manganese Inc.
American Manganese Inc. is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low cost production or recovery of electrolytic manganese products throughout the world, and recycling of spent electric vehicle lithium ion rechargeable batteries. Electric cars are the future, green mobility, and the recycling segment of the lithium ion cathodes will be a key function for the Company.
Interest in the Companys patented process has adjusted the focus of American Manganese Inc. toward the examination of applying its patented technology for other purposes and materials. American Manganese Inc. aims to capitalize on its patented technology and proprietary know-how to become and industry leader in the recycling of spent electric vehicle lithium ion batteries having cathode chemistries such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, and Lithium-Manganese (Please see the Companys March 31, 2016 press release for further details).
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh President and Chief Executive Officer
Information Contacts:
Larry W. Reaugh President and Chief Executive Officer Telephone: 778 574 4444; Email: [email protected](mailto:[email protected])
www.americanmanganeseinc.com (http://www.americanmanganeseinc.com)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements, which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.
To view this press release as a PDF file, click onto the following link:
http://fscwire.com/sites/default/files/news_release_pdf/AmericanManganese07062016.pdf
Source: American Manganese Inc. (TSX Venture:AMY, OTC Pink:AMYZF, FWB:2AM)www.americanmanganeseinc.com
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