American Manganese Inc., (TSXV:AMY; Pink Sheets: AMYZF; Frankfurt: 2AM) (“AMI” or the “Company”) is pleased to report the Company has filed its Patent Co-operative Treaty (PCT) Patent Application on November 9, 2017. The PCT Application is a unified international patent application with 152 participating independent states and countries. With the filing of the PCT Application, …
American Manganese Inc., (TSXV:AMY; Pink Sheets: AMYZF; Frankfurt: 2AM) (“AMI” or the “Company”) is pleased to report the Company has filed its Patent Co-operative Treaty (PCT) Patent Application on November 9, 2017.
The PCT Application is a unified international patent application with 152 participating independent states and countries. With the filing of the PCT Application, the Company’s proprietary technology becomes patent pending in these international jurisdictions.
The PCT application is another important milestone as the company continues develop and assemble intellectually property assets to capitalize on its technology for recycling lithium ion batteries.
A recent article published by Reuters, “Metal recyclers prepare for electric car revolution”, details the opportunity that exists for developing processes to extract metals from spent batteries to capitalize on the expected shortfall in materials such as cobalt and lithium due to the rapidly growing electric vehicle revolution.
The electric vehicle market is rapidly expanding with new products being introduced on a regular basis. For example, Reuters reports that Volkswagen has decided on a strategic shift to electric vehicles (EVs) and aims to make up to 3 million EVs by 2025. To meet this production capacity, it is estimated that more than 150 gigawatt hours of battery capacity annually will be required, and Volkswagen has been seeking to secure supply contracts for cobalt.
Tesla recently announced a new semi-truck, with <2KWh/mile energy consumption and up to a 500-mile range, the batteries pack size is calculated to be 1000 KWh (or greater than 10 times the battery capacity of an electric car).
Two years ago, American Manganese had recognized that the rapidly growing demand for EVs would lead to supply strains on materials used to make lithium ion batteries, particularly cobalt. As such, the Company has been developing its strong intellectual property portfolio to capitalize on this opportunity.
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.
Interest in the Company’s 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 Company’s January 27, 2017 press release for further details).
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the Toronto Stock Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
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