American Manganese Signs MOU with Voltabox of Texas

American Manganese Inc. (AMY) has announced the signing of a memorandum of understanding (MOU) with Voltabox of Texas Inc., a subsidiary of Voltabox AG, outlining a proposed business relationship between American Manganese and Voltabox to provide end-of-life lithium-ion batteries for commercial-scale recycling of cathode materials using AMY's RecycLiCo patented process.

Voltabox is a system provider for e-mobility in industrial applications using custom configurations of lithium-ion battery technology. With the recycled lithium batteries market projected to hit $6 billion by 2030, American Manganese is well-positioned to provide significant environmental and economic solutions to a variety of end users. The RecycLiCo process provides a closed loop recycling solution, with high recovery and purity potential of valuable battery materials such as lithium, nickel, manganese, cobalt and aluminum. AMY's RecycLiCo process is an alternative to the current method of disposing of end-of-life lithium-ion batteries via high-heat smelters that reduce the whole battery system to a black slag with little potential for complete material recovery, according to a press release.

"Voltabox is focused on managing the total lifecycle of our lithium-ion programs from initial manufacturing through second-use applications and eventually to end of life," said Sam Olson, CEO of Voltabox of Texas, in a statement. "A key part of this approach is the responsible disposal of spent battery cells, modules and systems. We look forward to working with American Manganese to ensure the proper recycling of our lithium-ion components that have reached the end of their service life."

"American Manganese is proud to be recognized as an advanced battery recycling solution by a pioneer in sustainable mobility, and we can appreciate their concern to find the best recycling solution for their end-of-life battery system," said Larry Reaugh, president and CEO of American Manganese, in a statement. "Currently, legislation in North America does not demand a transparent and sustainable battery metal supply chain, so the duty to establish a recycling framework is on environmentally responsible companies like American Manganese and Voltabox."

In addition, American Manganese maintains focus on the development of its first 3-tonnes-per-day commercial demonstration recycling facility for cathode scrap material originating from lithium-ion battery manufacturing waste. The company recognizes the immediate value of recycling cathode scrap (pre-consumer) but remains aware of future recycling opportunities for end-of-life batteries (post-consumer).