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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 tonsyear 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.
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-ion batteries.
About Zenith Chemical Corporation
Zenith Chemical Corporation is focused on the production of nickel based chemicals, including high purity nickel sulfate for the lithium ion battery application at two plants in Taichung, Taiwan. In addition to nickel chemicals, Zenith is also leveraging its position in the lithium battery supply chain to develop additives in anode and separator to improve performance of the battery.
On behalf of Management
American Manganese Inc.
Larry W. Reaugh
President and Chief Executive Officer
Telephone: 778 574 4444
Email: lreaugh@amymn.com
www.americanmanganeseinc.com
www.recyclico.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.
SOURCE: American Manganese Inc.
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https://www.accesswire.com/690179/American-Manganese-and-Zenith-Chemical-Sign-Memorandum-of-Understanding-for-Strategic-Expansion-into-Asias-Battery-Recycling-Market
