Tesla Battery Day Validates Manganese For Use In EV Batteries
Montréal, Québec–(Newsfile Corp. – September 23, 2020) – Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (OTC PINK: MNXXF) (“Manganese” or the “Company”) confirms that manganese received favorable mention from Elon Musk in his Tesla Battery Day presentation regarding the future of electric vehicles and energy storage.
With Tesla’s battery technology advancements and efficiency improvements, the new cell design will give the company’s vehicles a 16% increase in range and a 5x increase in energy. Battery chemistry for higher-end vehicles will use nickel-manganese thanks to its increased energy density.
Tesla also ultimately wants to eliminate cobalt in the cathode, saying it will make batteries significantly cheaper. This, along with the company’s other innovations, will result in the reduction in the price per kw for the batteries by 56%. Musk said this cheaper battery will enable the company to produce a $25,000 EV.
We must produce more EVs,” Musk said. “They need to be affordable and [have] a lot more energy storage, while building factories faster and with far less investment.”
To highlight the importance of manganese in Tesla’s battery strategy, we have provided a short video link whereby Elon Musk calls for a cathode chemistry mixture of 1/3 manganese, 2/3 nickel: Watch the video
Martin Kepman, CEO Manganese X comments, “it is gratifying to see Tesla using a high percentage of manganese in their battery chemistry. We have been diligently pursuing our agenda to be a provider to the EV battery space and have successfully produced 99.95% purity of Manganese Sulfate (“MnSO4″) which is EV compatible as confirmed in a report by Kemetco Research Inc. We will accelerate our actions to move towards a PEA (preliminary economic assessment) for our manganese mining resource in New Brunswick which is in close proximity to the US border. Our ultimate goal is to be a provider of battery material to the North American chain.”
About Manganese X Energy
Manganese’s X mission is to acquire and advance high potential manganese mining prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries. In addition our company is striving to achieve new methodologies emanating from environmentally and geographically ethical and friendly green/zero emissions technologies, while processing manganese at a lower competitive cost.
For more information, visit the website at www.manganesexenergycorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and Director
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company’s filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information. We seek safe harbor.