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Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (TSXV:AMY; PINKS:AMYZF;FRANK:2AM), is pleased to announce that the Company is working with Circulor Ltd. (“Circulor”) of London, England, to pilot blockchain technology in order to create a traceable and ethically sourced circular economy for electric vehicle (EV) battery metals, such as cobalt.
Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (TSXV:AMY; PINKS:AMYZF;FRANK:2AM), is pleased to announce that the Company is working with Circulor Ltd. (“Circulor”) of London, England, to pilot blockchain technology in order to create a traceable and ethically sourced circular economy for electric vehicle (EV) battery metals, such as cobalt.
American Manganese Inc. CEO, Larry Reaugh says, “AMY and Circulor will be mapping the lifecycle of an EV battery and understanding the value flow through the production process and lifecycle. As well as providing a road map for AMY to source valuable lithium ion batteries.”
The blockchain technology will create traceability of EV battery metals from the mine through their first use and then as they are recycled.
Circulor Ltd. CEO, Doug Johnson-Poensgen, said “Blockchain technology has the potential to transform complex industrial supply chains both by assuring provenance and improving efficiency. This joint project will create the first blockchain solution designed specifically for the EV circular economy.”
AMY and Circulor will engage other industrial partners involved in the EV battery lifecycle, including car manufacturers, during the pilot.
As reference to the existing supply chain’s ethical concerns for battery metals, click the following link to read the CNN article: ‘Carmakers and big tech struggle to keep batteries free from child labor’. https://money.cnn.com/2018/05/01/technology/cobalt-congo-child-labor-car-smartphone-batteries/index.html
About Circulor Ltd.
Circulor Ltd. is a London (UK) based blockchain start-up focused on materials provenance in the Electric Vehicle supply chain.
Circulor are creating distributed applications to help supply chain participants prove provenance, improve supply chain transparency and reduce counterparty risk exposure. The data pool that will be created in a blockchain ecosystem will eventually allow participants to unlock value well beyond what is currently possible, without compromising commercial confidentiality or violating antitrust/anti-competitive regulations.
The company has been engaging with a range of supply chain participants from car manufacturers to specialists in ethical and sustainable sourcing to prove the utility of blockchain technology and ensure that its solutions can integrate with existing supply chain management solutions.
Circulor is privately held.
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 the industry leader in recycling spent electric vehicle lithium ion batteries and recovering 100% of the cathode metals such as: Lithium-Cobalt, Lithium-Cobalt-Nickel-Manganese, Lithium-Cobalt- Aluminum and Lithium-Manganese (Please see the Company’s March 27, 2018 Company’s Business Plan (“CBP”) for further details).
On behalf of Management
AMERICAN MANGANESE INC.
Larry W. Reaugh
President and Chief Executive Officer
Information Contacts
| AMERICAN MANGANESE INC.
Larry W. Reaugh President and Chief Executive Officer Telephone: 778 574 4444 Email: lreaugh@amymn.com | CIRCULOR LTD.
Douglas Johnson-Poensgen Chief Executive Telephone: +44 7973 656 324 Email: djp@circulor.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: www.fscwire.com
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