American Manganese Inc. (TSX-V:AMY, OTCQB:AMYZF) said it is receiving additional advisory services and funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support its lithium-ion battery recycling pilot project.
The Surrey, British Columbia-based critical metals company said the support will be used to advance its research and development project, entitled ‘Demonstration of Continuous Recycling of Cathode Material from Lithium-ion Battery Production Scrap', which started in August 2021.
The amendment expands existing assistance it is receiving from NRC IRAP, which it announced on August 13, 2021, the company added.
READ: American Manganese says 2021 has laid a "strong foundation" for growth next year
"We have made great progress to date, and we are extremely pleased to receive this additional funding from NRC IRAP to support the completion of our project activities and objectives," president and CEO, Larry Reaugh, said in a statement.
American Manganese is a critical metals company focused on recycling and upcycling lithium-ion battery waste into high-value battery cathode materials, using its closed-loop RecycLiCo process.
With minimal processing steps and over 99% extraction of lithium, cobalt, nickel, and manganese, the upcycling process creates valuable lithium-ion battery materials for direct integration into the re-manufacturing of new lithium-ion batteries.
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