Achieved steps to de-risk implementation of
its battery recycling technologies at commercial scale by
completing all diligence and receiving final contracts for
supporting US DOE grants
Reno,
Nev., Oct. 25, 2023 /PRNewswire/
-- American Battery Technology Company (ABTC) (NASDAQ:
ABAT), an integrated critical battery materials company that is
commercializing its technologies for both primary battery minerals
manufacturing and secondary minerals battery
recycling, continues to advance operations and the
implementation of its internally-developed lithium-ion battery
recycling technologies at its commercial-scale facility located in
Nevada, which has now been
designated as a regional "innovation and technology hub" by the
Biden Administration.
American Battery Technology Company has
achieved steps to de-risk implementation of its battery recycling
technologies.
The ABTC commercial lithium-ion battery recycling facility has
the capacity to process over 20,000 metric tonnes per year of
battery feedstock materials when fully ramped, and several
strategic partnerships have been announced recently for the
sourcing of feed material and the offtake of recycled products,
such as with BASF, Nanotech, and FedEx. The initial phase of the
facility is already operational, and processes battery feedstock
materials into recycled products including copper, aluminum, steel,
a lithium intermediate, and a black mass intermediate material that
are sold through an already executed marketing agreement with the
global metals trader TechMet-Mercuria. With the second phase
of this integrated recycling facility, the lithium intermediate
will be further refined into a battery grade lithium hydroxide
product, and the black mass intermediate material will be further
refined into battery grade nickel, cobalt, manganese, and lithium
hydroxide products.
"By design, the combination of building an in-house team of
industry experts and developing in-house technologies is driving
construction and operations progress at our commercial-scale
lithium-ion battery recycling facility," stated ABTC CEO
Ryan Melsert. "Due to the skills and
dedication of our technical program management, engineering,
construction, and operations teams, the initial phase of our
commercial battery recycling facility was brought online under the
allotted budget and in an accelerated timeframe."
These battery recycling technologies were developed
in-house by the ABTC R&D, engineering, and technical
projects team members, many of whom were previously members of
the founding Tesla Gigafactory design and engineering
teams. These ABTC team members have significant experience
scaling processes and bringing first-of-kind commercial-scale
facilities online, and have leveraged this expertise to de-risk
ABTC's commercialization of its battery recycling facility.
The company's operations and commercial scale-up of this recycling
facility is further de-risked by having been awarded several
competitive grants from the U.S Department of Energy (DOE), for
which ABTC has already completed all due diligence, received the
final contracts, and is currently receiving the awarded funds.
ABTC has a dedicated R&D team of in-house scientists located
at the Nevada Center for Applied Research at the University of Nevada, Reno, and this team focuses
on developing, optimizing, and evolving the company's first-of-kind
battery metals extraction technologies. This team interfaces
on a daily basis with the ABTC engineering team, who have deep
expertise in the design, commissioning, and optimization of large
manufacturing factories. These development and
commercialization efforts are all coordinated by the ABTC technical
projects team, who oversees life-cycle project development and
implementation of large-scale projects including budgeting,
schedule management, procurement, and cost controls. The teams work
symbiotically, along with our operations teams, to drive the
development and implementation of ABTC's first-of-kind technologies
and commercial-scale facilities for domestic critical battery
material manufacturing.
ABTC has been validating and optimizing its first-of-kind
recycling technologies for several years, and has showcased its
innovation through winning the battery recycling portion of the
competitively awarded BASF-sponsored Circularity Challenge; through
a $2M battery recycling
grant from the U.S. Advanced Battery Consortium (USABC),
which is comprised of the U.S. Department of Energy, General
Motors, Ford, and Stellantis for a commercial-scale project
currently underway to demonstrate that recycled battery metal
products from domestic U.S. resources can be produced at lower cost
than, and at significantly improved social and environmental
impact, than conventionally mined virgin minerals; and through a
competitive U.S. DOE grant for a $20M
project to develop and commercialize a set of Next Generation
battery recycling technologies to even further enhance the
recovery of recycled products and reduce the cost of
operations.
About American Battery Technology Company
American Battery Technology Company (ABTC), headquartered in
Reno, Nevada, has pioneered
first-of-kind technologies to unlock domestically manufactured and
recycled battery metals critically needed to help meet the
significant demand from the electric vehicle, stationary storage,
and consumer electronics industries. Committed to a circular
supply chain for battery metals, ABTC works to continually innovate
and master new battery metals technologies that power a global
transition to electrification and the future of sustainable
energy.
Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical fact, are "forward-looking
statements." Although the American Battery Technology Company's
(the "Company) management believes that such forward-looking
statements are reasonable, it cannot guarantee that such
expectations are, or will be, correct. These forward-looking
statements involve a number of risks and uncertainties, which could
cause the Company's future results to differ materially from those
anticipated. Potential risks and uncertainties include, among
others, interpretations or reinterpretations of geologic
information, unfavorable exploration results, inability to obtain
permits required for future exploration, development or production,
general economic conditions and conditions affecting the industries
in which the Company operates; the uncertainty of regulatory
requirements and approvals; fluctuating mineral and commodity
prices, final investment approval and the ability to obtain
necessary financing on acceptable terms or at all. Additional
information regarding the factors that may cause actual results to
differ materially from these forward-looking statements is
available in the Company's filings with the Securities and Exchange
Commission, including the Annual Report on Form 10-K for the year
ended June 30, 2023. The Company
assumes no obligation to update any of the information contained or
referenced in this press release.
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SOURCE American Battery Technology Company
