- Manganese X Energy (MN) is in the race for a more sustainable, more efficient alternative to the lithium-ion battery
- Lithium-ion batteries and Nickel-manganese-cobalt batteries are unsustainable and unethical to produce
- Manganese is a common mineral in the existing battery kinds and could be the main ingredient in alternatives
- Manganese X Energy is a Quebec-based company that owns 100% of the largest manganese resources in North America
- Manganese X Energy (MN) is up 7.5 per cent at C$0.28 per share at 12:34 PM EST
Manganese X Energy (MN) is in the race for a more sustainable, more efficient alternative to the lithium-ion battery.
Lithium-ion has been powering most portable devices for the past 30 years. There is now a race to find a new and better alternative.
CEO of Manganese X Energy, Martin Kepman, said this about the race.
“Manganese is a candidate for disruption in the lithium-ion battery space. Manganese has elemental qualities that have the potential to improve density, capacity, rechargeability, safety and battery longevity.”
Manganese is a mineral found in two of the most commonly produced types of batteries. Manganese makes up 61 per cent of Lithium-ion-manganese oxide batteries and a large amount of manganese can also be found in Nickel-manganese-cobalt batteries. The former is used for anything rechargeable and the latter for electric vehicles.
Lithium-Ion batteries are not the best solution when storing large amounts of energy and are expensive to produce. Cobalt batteries are not able to be sourced ethically.
Manganese could be a big part of potential alternatives to both battery kinds.
Currently, other alternatives are being researched in Europe, the United States, and Japan.
Manganese X Energy, based in Quebec, owns 100 per cent of the Battery Hill property project located in New Brunswick. It is near infrastructure and constitutes one of the largest manganese resources in North America.
Manganese X Energy is up 7.5 per cent at C$0.28 per share at 12:34 PM EST.