American Manganese Inc. (TSX-V:AMY, OTCQB:AMYZF) said the Indian Patent Office has issued patent no. 380826 for the company's first patent invention on lithium-ion battery recycling.
The patent covers core process functions in the company's RecycLiCo process that can reach up to 100% leach extraction of lithium, cobalt, nickel, and manganese from the treatment of lithium-ion battery cathode chemistries used in electric vehicles and portable electronics, the company said, adding that these cathode chemistries include lithium-cobalt oxide (LCO), lithium-nickel-manganese-cobalt oxide (NMC), and lithium-nickel-cobalt-aluminum oxide (NCA).
"The newly granted Indian patent is separate from the company's second battery recycling patent invention recently filed into national phase for Europe, South Korea, Canada, India, Australia, Japan, and China," noted American Manganese in a statement.
READ: American Manganese aims to create circular lithium-ion battery supply chain through its ground-breaking technology
India is the fifth-largest automotive industry in the world and is expected to become the third-largest by 2030 with a big push to go electric. By that year 30% of private cars, 70% of commercial vehicles, 40% of buses, and 80% of two and three-wheelers are expected to go electric.
"India could offer one of the world's largest emerging electric vehicle markets and pose a significant opportunity to establish a circular battery recycling business model for the sustainable and domestic supply of critical battery materials," American Manganese added.