American Manganese entered the lithium-ion recycling business after it realized that metal processing method it developed for its own property had a much wider application.
The company developed a low-cost method to recover manganese then realized the same method could be applied to recovering cobalt from spent batteries.
The lithium-ion space is a bigger opportunity. The price of metals that go into electric vehicles are anticipated to rise as demand for lithium-ion batteries boom. Bloomberg said sales of electric vehicles will increase from 2 million in 2018 to 10 million by 2025 and eventually 56 million by 2040. While the price of materials is expected to rise, regulators are also demanding that manufacturers close the loop. Spent batteries must be disposed of in an environmentally-friendly manner. The race is on to find a lowest cost solution to battery recycling.
Listen to Michael McCrae’s interview in June with American Managense principals on how the company pivoted from junior to battery recycler. The first voice you hear is Zarko Meseldzija, chief technical officer. Later in the interview Larry W. Reaugh, president and CEO, adds comments.
