Business
American Manganese and Zenith Chemical Sign Memorandum of Understanding for Strategic Expansion into Asia's Battery Recycling Market
SURREY, BC / ACCESSWIRE / February 24, 2022 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF...
About this update from Recyclico Battery Materials Inc
[{"type":"text","content":"American Manganese and Zenith Chemical Sign Memorandum of Understanding for Strategic Expansion into Asia's Battery Recycling MarketSURREY, BC / ACCESSWIRE / February 24, 2022 / American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) (\"AMY\" or the \"Company\"), a pioneer in advanced lithium-ion battery cathode recycling-upcycling, is pleased to announce that it has signed a Memorandum of Understanding (MOU) with Zenith Chemical Corporation (\"Zenith\") to develop a strategic expansion plan into Asia's lithium-ion battery recycling market. Zenith is an existing producer of high purity nickel sulphate for the lithium-ion battery supply chain and aims to expand its business into battery recycling and high-value cathode precursor materials. Zenith's existing nickel processing plant in Taiwan can produce up to 45,000 tons/year of nickel sulphate.Under the agreed-upon MOU, American Manganese plans to produce high-nickel cathode precursors, such as NMC811 and NMC9x, at the existing pilot and demonstration plant scale. Zenith would then validate the material specifications and convert the precursor material into cathode active material to test its properties in lithium-ion batteries. American Manganese and Zenith Chemical will work together to achieve the timeline and milestones that would mutually benefit AMY's patented technology and Zenith's robust supply network.\"Zenith is an existing producer of battery materials for the lithium-ion battery supply chain and their incredible supply network and market intelligence offers an intangible benefit for the RecycLiCo processes expansion into Asia's battery supply chain,\" said Larry Reaugh, President and CEO of American Manganese. \"I'm excited for the opportunity to demonstrate the RecycLiCo process capability to produce high-nickel cathode precursor product and I'm confident in our ability to achieve the desired specifications.About American Manganese Inc.American Manganese Inc. is a critical metals company focused on recycling and upcycling lithium-ion battery waste into high-value battery cathode materials, using its closed-loop RecycLiCo™ process. With minimal processing steps and over 99% extraction of lithium, cobalt, nickel, and manganese, the upcycling process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-i...