Over the past month, NIA's #1 favorite technology stock for 2020, American Manganese Inc (TSXV: AMY) has been using its RecycLiCo™ Patented Process to conduct recycling tests of lithium-ion battery material for two tier-one lithium-ion battery producers. With respect to AMY’s confidentiality agreement with the tier-one companies, they are being referred to as Company A and Company B. On November 20th, AMY reported the successful recovery of high purity (99.977%) nickel-cobalt hydroxide from the NCA cathode scrap material received from the tier-one lithium-ion battery company referenced as Company A. On November 13th, AMY reported the successful recovery of high purity (99.98%) nickel-cobalt hydroxide from the NCA cathode scrap material received from the tier-one lithium-ion battery company referenced as Company B.
NIA has confirmed with AMY that it is using the tiered structure standard of Benchmark Mineral Intelligence, which ranks lithium-ion battery cell suppliers into three tiers based on their quality and volume. Tier 1 companies must be qualified to supply multi-national electric vehicle (EV) producers outside of China! Only a few established, large-scale EV battery producers are in the top tier! Take a look at the graphic above made by Benchmark Mineral Intelligence, which shows the three tiers and the companies in them! Look at the behemoths of the industry that occupy the top tier!
AMY's objective is to collaborate efforts with the tier-one companies to seamlessly integrate recycled material into the re-manufacturing of battery cathodes. AMY believes the demand for recycling is immediate and lithium-ion battery manufacturers could benefit from integrating recycled cathode material in their manufacturing process because it would create use for their production scrap waste, reduce reliance for mined raw materials, and improve battery production costs. The next steps involve shipment of high purity recycled material back to the tier-one companies for analysis and confidential technical discussion regarding the recycling process.
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