Business
RETRANSMISSION: Manganese X Signs MOU With US Battery Technology Leader C4V
Montreal, Quebec--(Newsfile Corp. - January 10, 2024) - Manganese X Energy Corp. (TSXV: MN) (FSE...
About this update from Manganese X Energy Corp.
[{"type":"text","content":"RETRANSMISSION: Manganese X Signs MOU With US Battery Technology Leader C4VMontreal, Quebec--(Newsfile Corp. - January 10, 2024) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (TRADEGATE: 9SC) (OTCQB: MNXXF) (the \"Company\" or \"Manganese X\") is pleased to announce that Manganese X has signed a Memorandum of Understanding (MOU) with US battery technology leader C4V, leading to a potential offtake deal from the Company's Battery Hill High Purity Manganese project in Woodstock, New Brunswick, Canada. The non-binding agreement is based on the potential supply of Electric Vehicle (EV) compliant High Purity Manganese Sulfate Monohydrate (HPMSM), a sample of which is currently being pre-qualified by C4V for its Gigafactory joint ventures. The sample was produced as part of the Manganese X's Pilot Plant Project, using its patent pending ground-breaking manganese purification technology to process Battery Hill manganese carbonate into EV (Electric Vehicle) compliant High Purity Manganese Sulfate Monohydrate (HPMSM) as a pre-curser to the cathode. Manganese X CEO Martin Kepman commented, \"This is a significant step in Manganese X's mission to become a sustainable and reliable North American supplier of HPMSM and could even potentially lead to being a worldwide supplier, thanks to C4V which also represents additional Gigafactories around the world. Through this MOU, we can ensure our HPMSM meets C4V specifications with the goal of progressing towards a binding offtake deal for our Battery Hill manganese.\" Kepman continued, \"Our timing is excellent as EV car manufacturers ramp up their efforts to secure long term supplies of High Purity Manganese. Manganese is consistently in the news as a battery chemistry of choice. Not only is it less expensive to process, manganese provides the EV battery with greater energy density and rechargeability, as well as a longer life cycle.\" C4V is a US battery technology company and a global leader in renewable battery technology as well as involved in some of the world's largest Gigafactory developments, including Recharge Industries' Gigafactory in Geelong, Australia and iM3NY's Gigafactory in the United States.Shailesh Upreti C4V CEO remarked, \"We are very excited to be part of a journey paving a robust path for domestic manufacturing and a sustainable North American supply chain. Our collaborat...