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American Manganese to use blockchain for EV supply

2018-05-03 09:23 ET - News Release

Mr. Larry Reaugh reports

AMERICAN MANGANESE INC. INTEGRATING BLOCKCHAIN TECHNOLOGY TO SOURCE LITHIUM ION BATTERY SUPPLY

American Manganese Inc. is working with Circulor Ltd. of London, England, to pilot blockchain technology in order to create a traceable and ethically sourced circular economy for electric vehicle (EV) battery metals, such as cobalt.

American Manganese chief executive officer Larry Reaugh says: "AMY and Circulor will be mapping the life cycle of an EV battery and understanding the value flow through the production process and life cycle. As well as providing a road map for AMY to source valuable lithium ion batteries."

The blockchain technology will create traceability of EV battery metals from the mine through their first use and then as they are recycled.

Circulor Ltd. CEO Doug Johnson-Poensgen said: "Blockchain technology has the potential to transform complex industrial supply chains both by assuring provenance and improving efficiency. This joint project will create the first blockchain solution designed specifically for the EV circular economy."

AMY and Circulor will engage other industrial partners involved in the EV battery life cycle, including car manufacturers, during the pilot.

About American Manganese Inc.

American Manganese is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low-cost production or recovery of electrolytic manganese products throughout the world, and recycling of spent electric vehicle lithium ion rechargeable batteries.

We seek Safe Harbor.

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