Manganese Investing

RecycLiCo Battery Materials Commends Climate-Focused Critical Minerals Provisions in New U.S. Law

American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) ("Company"), doing business as RecycLiCo Battery Materials, a pioneer in advanced lithium-ion battery recycling and upcycling, offers the following comments on the climate-focused Critical Mineral provisions in a new bill signed into law by U.S. President Joe Biden this week.

The bill, formally known as the Inflation Reduction Act of 2022, includes a 10% advanced manufacturing production tax credit that spans the production of critical battery minerals to downstream production of cathode and anode materials used in lithium-ion batteries. In an extensive section on energy security and climate change, the bill also includes more than $60 billion to incentivize renewable and clean energy manufacturing in the U.S. Eligibility is open to companies operating in North America or from countries with which the U.S. has a formal trade agreement.

Tax credits for electric vehicles (EVs) are restored, but with restrictions based on where the batteries are built and where the critical materials in the batteries are mined, recycled, or processed. According to the Congressional Research Service's summary of tax provisions in the bill:

"To receive the $3,750 critical minerals [tax] credit, the vehicle's battery must contain a threshold percentage (in value) of critical minerals that were extracted or processed in a country with which the United States has a free trade agreement, or recycled in North America. The threshold percentage would be 40% through 2023, increasing to 50% in 2024, 60% in 2025, 70% in 2026, and 80% after 2026.

To receive the $3,750 battery components portion of the credit, the percentage of the battery's components manufactured or assembled in North America would have to meet threshold amounts. For vehicles placed in service through 2023, the percentage would be 50%. The percentage increases to 60% for 2024 and 2025, 70% for 2026, 80% for 2027, 90% for 2028, and 100% after 2028."

In recognition of geopolitical concerns and supply chain vulnerabilities, the bill prohibits taking the EV tax credit on any vehicle purchased after December 31, 2024, in which battery materials are sourced from "foreign entities of concern," defined in U.S. law as China, Russia, Iran or North Korea.

"The new law comes less than four months after the U.S. designated the major battery materials -- including those RecycLiCo will extract from spent batteries -- as essential materials under Title III of the Defense Production Act of 1950," said Dan McGroarty, a member of the Company's Advisory Board. "I see this as a strong signal that U.S. policymakers are coming to understand that the 'battery criticals' are true dual-use materials, required for the national economy as well as national security." The law authorizes an additional $500 million for the Department of Defense to use to encourage the production of Title III materials.

The bill aligns with the Company's efforts to advance its RecycLiCo patented process and follows the latest company developments such as the demonstration plant project achieving 163% of its designed leach processing capacity, a third-party life cycle assessment that reports RecycLiCo's lower environmental impact to produce battery materials, and the production of NMC811 cathode precursor material.

About American Manganese Inc.

American Manganese Inc, doing business as RecycLiCo Battery Materials, is a battery materials company focused on recycling and upcycling lithium-ion battery waste. With minimal processing steps and up to 100% extraction of lithium, cobalt, nickel, and manganese, the patented, closed-loop hydrometallurgical process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-ion batteries.

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

Click here to connect with American Manganese Inc. (TSXV:AMY)(OTCQB:AMYZF)(FSE:2AM) to receive an Investor Presentation

AMY:CA
The Conversation (0)
RecycLiCo Battery Materials Welcomes Maryam Rasouli, Ph.D. as Principal Engineer

RecycLiCo Battery Materials Welcomes Maryam Rasouli, Ph.D. as Principal Engineer

RecycLiCo Battery Materials Inc. ("RecycLiCo" or the "Company"), (TSX.V: AMY | OTCQB: AMYZF| FSE: ID4), a pioneer in the field of lithium-ion battery recycling technology, is pleased to announce the hiring of Dr. Maryam Rasouli as Principal Engineer, specializing in hydrometallurgy. Dr. Rasouli brings to the Company a wealth of expertise in chemical and materials engineering, particularly in aqueous chemistry, lithium-ion battery cathode active material precursor (pCAM) synthesis and net-zero and circular economy solutions, all of which will contribute to realizing RecycLiCo's vision of a sustainable future for off-spec scrap and end-of-life battery materials.

Dr. Rasouli's extensive experience as a materials engineer and chemist includes work with advanced recycling technologies for lithium and nickel-manganese-cobalt (NMC) from end-of-life batteries, the efficient extraction of zinc, cadmium, nickel, and cobalt from secondary waste solids and metal extraction techniques focusing on precious metal recovery solvent extraction processes and synthetic chemistry, including the synthesis of layered double hydroxides (LDH), materials similar to pCAM, and metalloenzymes.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
RecycLiCo Engages Hatch to Consult on Plant Construction for Taiwan Battery Recycling Joint Venture

RecycLiCo Engages Hatch to Consult on Plant Construction for Taiwan Battery Recycling Joint Venture

RecycLiCo Battery Materials Inc. (" RecycLiCo " or the " Company "), (TSX.V: AMY | OTCQB: AMYZF| FSE: ID4) a pioneer in the field of sustainable lithium-ion battery recycling technology, is pleased to announce that it has engaged Hatch Ltd to provide consulting services in connection with the Stage 2 battery recycling plant to be operated in Taiwan by RecycLiCo Zenith Battery Materials Technology Co., the Company's joint venture with Zenith Chemical.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
RecycLiCo Battery Materials Inc. Granted European Unitary Patent for Innovative Lithium-Ion Battery Recycling Process

RecycLiCo Battery Materials Inc. Granted European Unitary Patent for Innovative Lithium-Ion Battery Recycling Process

-

RecycLiCo Battery Materials Inc. ("RecycLiCo" or the "Company"), TSX.V: AMY, OTCQB: AMYZF, FSE: ID4, a leader in sustainable lithium-ion battery recycling technology, is pleased to announce the registration of the European Unitary Patent (Patent Application No. 17870326.0) for its pioneering hydrometallurgical recycling solution. This patent grant solidifies the Company's intellectual property portfolio in Europe, a key market focused on electrification and sustainable battery technologies.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
RecycLiCo Taiwan Battery Recycling Joint Venture Commences Production and Sales of Black Powder

RecycLiCo Taiwan Battery Recycling Joint Venture Commences Production and Sales of Black Powder

RecycLiCo Battery Materials Inc. (" RecycLiCo " or the " Company "), (TSX.V: AMY | OTCQB: AMYZF| FSE: ID4) a pioneer in the field of sustainable lithium-ion battery recycling technology, is pleased to announce that RecycLiCo Zenith Battery Materials Technology Co., the Company's joint venture with Zenith Chemical, has constructed a Stage 1 shredding facility at the site of its battery recycling plant in Taiwan and is now processing off-spec battery materials purchased from an established global battery manufacturer and selling the resulting black powder. The Joint Venture made its first shipment of black powder in late June and has already made arrangements for future shipments.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
RecycLiCo Secures Additional Patent in India for Key Battery Recycling Processes Including Graphite Separation

RecycLiCo Secures Additional Patent in India for Key Battery Recycling Processes Including Graphite Separation

RecycLiCo Battery Materials Inc. (" RecycLiCo " or the " Company "), TSX.V: AMY, OTCQB: AMYZF, FSE: ID4, a global leader in sustainable lithium-ion battery recycling technology, is pleased to announce that the Indian Patent Office has issued patent No. 478749 for RecycLiCo's "Processing of cobaltous sulphatedithionate liquors derived from cobalt resource".

The Indian patent follows the form of existing patents previously granted for the same invention in other jurisdictions. The patent incorporates 18 claims, including separation of cobalt compounds from cathode materials containing carbon and graphite.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
  Loyal Lithium Limited

Strategic Consolidation of Hidden Lake and Board Changes

Loyal Lithium Limited (ASX:LLI) (Loyal Lithium, LLI, or the Company) is pleased to announce the execution of a definitive agreement for the consolidation of the Hidden Lake Lithium Project, with Patriot Battery Metals (ASX:PMT) becoming a substantial LLI shareholder. Mr. Blair Way, Non- Executive Director and former President & CEO of Patriot Battery Metals, will join the Loyal Lithium Board of Directors, bringing valuable regional and industry expertise to guide the company's growth initiatives. The consolidation of the Hidden Lake Lithium Project provides Loyal Lithium with greater flexibility and optionality to deploy innovative exploration and development solutions.

Keep reading...Show less
Drilling Commences at the Barra Lithium Project in Brazil

Drilling Commences at the Barra Lithium Project in Brazil

Summit Minerals Limited (ASX:SUM) (“Summit” or the “Company”) is pleased to announce that Summit’s maiden drilling program has commenced at the recently acquired 100% owned Barra Lithium Project (“Barra”).

The Barra Lithium Project consists of four recently acquired tenements that are located within close proximity to the existing operating Miranda Lithium mine that is within the Borborema Pegmatitic Province (“BPP”) in northeast Brazil.

Keep reading...Show less
Lithium Universe

Lithium Universe


Keep reading...Show less
CleanTech Lithium (AIM:CTL)

Issue of Equity and TVR


Keep reading...Show less

Latest Press Releases

Related News

×