American Battery Technology Company Awarded $144 Million Grant Contract from U.S. Department of Energy for Construction of Second Lithium-Ion Battery Recycling Facility
December 18 2024 - 8:32AM
- Highly competitive grant award facilitates significant
expansion of company’s internally-developed commercial lithium-ion
battery recycling operations, with an additional 100,000
tonnes/year of battery materials processing capacity
- Second facility has a design capacity five times the
throughput of the company’s first lithium-ion battery recycling
plant, based on scale of domestic end-of-life materials
market
American Battery Technology Company (NASDAQ: ABAT), an
integrated critical battery materials company that is
commercializing its technologies for both primary battery minerals
manufacturing and secondary minerals lithium-ion battery recycling,
has received a contracted grant award for $144 million of federal
investment by the U.S. Department of Energy (DOE), with these funds
awarded to the American Battery Technology Company (ABTC) and its
subcontractor Argonne National Laboratory, to support the
construction of a new lithium-ion battery recycling facility.
This facility will be the company’s second commercial-scale
lithium-ion battery recycling facility and will process
approximately 100,000 tonnes/year of battery materials from its
automotive OEM, cell manufacturer, and community partners.
This facility will intake a wide variety of end-of-life and
manufacturing scrap materials, and will output battery grade
nickel, cobalt, manganese, and lithium hydroxide products to be
sold to the North American market. ABTC entered into a strategic
partnership agreement with BASF in Summer 2023, one of the premier
cathode manufacturers in North America, for the purchase of its
battery grade metals.
“We are extremely proud to have been awarded this highly
competitive grant contract from the U.S. DOE, and it will directly
support the additional capacity required to process the quantity of
materials demanded from the domestic automotive and battery
industry,” stated American Battery Technology Company CEO Ryan
Melsert. “We are excited to be further scaling our
internally-developed recycling technologies and expanding domestic
supply of unrealized, in-demand, recycled, battery grade,
sustainably-manufactured materials.”
This second facility is designed to scale fivefold the company’s
first recycling facility and will implement its
internally-developed processes for the strategic de-manufacturing
and targeted chemical extraction of battery grade products at
competitive costs and with low environmental footprint. These
processes have already been demonstrated to produce battery grade
products that meet the rigorous specifications set by cathode
refining customers and are fundamentally different than
conventional methods of battery recycling, which generally utilize
either high temperature smelting or non-strategic shredding
systems.
The company has leveraged its in-house ABTC R&D, project
management, and engineering team members, many of whom were
previously members of the founding Tesla Gigafactory design and
engineering teams, to scale and de-risk ABTC’s commercialization of
this second battery recycling facility.
True to the company’s strategic model to engage a diverse
portfolio of partners and stakeholders to bring advanced battery
technologies online and establish a commercial battery metals
supply chain for North America, this project will leverage multiple
partners including feedstock supplier and critical mineral product
offtaker BASF, global engineering firm Siemens, the Clemson
University International Center for Automotive Research (CU-ICAR),
the Argonne National Laboratory (ANL) ReCell Center, the Argonne
National Laboratory Sustainable Transportation Education &
Partnerships (STEP) department, and the South Carolina Electric
Transportation Network (SCETNetwork).
Through this new facility construction project, ABTC will employ
a proactive, community-driven engagement model to build an energy
equity, sustainable circular manufacturing ecosystem that aims to
create 1,200 construction jobs and 300 operations jobs. The company
will work in direct partnership between communities, educational
institutions, industry, government, the National Laboratory system,
and the next generation workforce to support equitable and
sustainable initiatives that benefit and strengthen in local
communities, including in underserved communities that have
historically been left behind.“I’m personally very proud of our
internal teams for the preparation of this proposal, performance
during the due diligence rounds, and proficiency in the rapid
contracting of this competitive award,” Melsert continued.
The contracted grant award will commence on January 1, 2025.
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, risks and uncertainties
related to the Company’s ability to continue as a going concern;
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. 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, 2024. The Company assumes no
obligation to update any of the information contained or referenced
in this press release.
Tiffiany Moehring
American Battery Technology Company
720.254.1556
tmoehring@batterymetals.com
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