American Manganese Inc (CVE:AMY) (OTCMKTS:AMYZF) updated Thursday on its partnership with the US Department of Energy (DOE), which aims to advance the recovery of lithium-ion battery materials from electric vehicles (EVs) and other products.
In a statement, the company said that its contractor Kemetco Research had begun testing cathode materials from disassembled electric vehicle battery packs supplied by a Critical Material Institute (CMI) team member.
It is all part of a US government project, which was announced in March this year, which is focused on creating a multi-year project that focuses on creating a circular economy for lithium-ion batteries.
READ: American Manganese talking with Kemetco on preliminary design and analysis of commercial demonstration recycling plant
The project is under the aegis of the CMI, an Energy Innovation Hub, led by Ames Laboratory and supported by the DOE, Office of Energy Efficiency and Renewable Energy, Advanced Manufacturing Office, it added.
The CMI project is formally titled the "Lithium ion battery disassembly, remanufacturing, and lithium & cobalt recovery project".
It is focused on research, development and demonstration of novel methods that maximize value recovery from lithium-ion battery stacks, modules and cells by reuse, remanufacturing, and materials recovery.
"The U.S. Department of Energy initiatives on critical materials and creating a circular economy align with our company objectives and we are excited to continue the project's development," said Larry Reaugh, the president and CEO of American Manganese.
Shares added 2.38% to C$0.22 in Toronto.
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