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American Battery Technology Company - ABAT STOCK NEWS

Welcome to our dedicated page for American Battery Technology Company news (Ticker: ABAT), a resource for investors and traders seeking the latest updates and insights on American Battery Technology Company stock.

American Battery Technology Company (ABTC), trading under the symbol ABAT on NASDAQ, is an industry leader in the exploration, mining, extraction, and recycling of battery metals. Founded in 2011, the company is based in Reno, Nevada, and was formerly known as Oropiata Resources Inc., before its rebranding in May 2019.

ABTC is committed to sustainable and clean energy technologies, focusing on unlocking domestically sourced battery metals through innovative approaches. The company operates primarily in two sectors: lithium-ion battery recycling and battery metals and materials extraction. It owns substantial mining claims in the Western Nevada Basin, including 647 placer mining claims spread over approximately 12,940 acres in the Railroad Valley, Nye County, Nevada, and an additional 120-acre parcel with water rights in Currant, NV.

One of ABTC’s most significant assets is the Tonopah Flats Lithium Project, identified as one of the largest lithium resources in the U.S. The company’s recent Initial Assessment revealed an updated mineral resource estimate of 18.03 million tons of lithium hydroxide monohydrate with an inferred classification, projecting a mine life exceeding 400 years and average annual production of 33,000 tons. This assessment also highlighted a compelling after-tax NPV of $4.41 billion with a 65.8% IRR, demonstrating robust financial potential.

The company has been actively enhancing its commercial-scale lithium-ion battery recycling facility in Storey County, Nevada. The facility, which processes over 20,000 metric tonnes of battery feedstock annually, has now ramped to over 115% of its design capacity. This development reflects ABTC’s innovative recycling technologies that offer higher yields, lower costs, and a minimal environmental footprint. The company continues to expand its operations supported by several competitive corporate awards and government grants, including over $60 million through the 48C program and grants exceeding $70 million from the U.S. Department of Energy (DOE).

ABTC’s leadership team includes CEO Ryan Melsert, who brings over twenty years of expertise in mechanical and chemical engineering and was instrumental in the early successes at Tesla’s Gigafactory. The company has also recently expanded its executive team, notably with the addition of financial market veteran Susan Yun Lee to its Board of Directors and Scott Smith, former Tesla Head of FP&A Europe, as Vice President of Financial Planning and Analysis.

With a vision centered on creating a circular supply chain for battery metals, ABTC is poised to play a pivotal role in the global transition to electrification and sustainable energy. The company’s ongoing projects, strategic partnerships, and innovative technologies position it at the forefront of the battery metals industry.

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American Battery Technology Company (NASDAQ: ABAT) has achieved a significant milestone by entering into a binding purchase agreement for its recycled black mass material with a domestic strategic customer. This material, generated from the company's lithium-ion battery recycling facility, contains valuable metals like lithium, nickel, and cobalt. The facility, operational since October 2023, uses a unique de-manufacturing and hydrometallurgical process to recycle batteries and manufacturing scrap. Initially, ABTC considered marketing its black mass globally but decided to prioritize domestic sales to contribute to a North American circular battery metals supply chain. This strategy aims to strengthen local supply chains and avoid dependency on Asian markets.

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American Battery Technology Company (NASDAQ: ABAT) recently hosted U.S. Department of Energy Secretary Jennifer Granholm at its facilities. The visit spotlighted ABTC's pioneering lithium-ion battery recycling plant and its novel lithium hydroxide manufacturing from Nevada-based claystone resources. ABTC's demonstration plant, funded by a U.S. DOE grant, successfully produced lithium hydroxide. The company plans to scale this technology to a commercial refinery with a capacity of 30,000 tonnes per year, supported by a $115 million project grant. The recycling facility uses an innovative de-manufacturing process to produce battery-grade materials. ABTC has received several DOE grants, including $40 million for a new commercial recycling facility and $57 million for the lithium hydroxide refinery.

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American Battery Technology Company (NASDAQ:ABAT) successfully manufactured lithium hydroxide at its demonstration facility in Nevada using proprietary processing technologies. This development reduces the U.S. reliance on foreign lithium resources. The company aims to secure long-term commercial-scale offtake agreements with strategic partners and plans to accelerate the construction of a DOE-supported 30,000 MT/year lithium hydroxide refinery. The Tonopah Flats Lithium Project, one of the largest lithium deposits in the U.S., will be the location for this refinery. The initiative aims to support the North American critical battery minerals supply chain. ABTC also focuses on lithium-ion battery recycling technologies at its facility in Storey County, Nevada, enhancing its battery materials circular supply chain.

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American Battery Technology Company (ABAT) is set to participate in several key industry and financial conferences, focusing on battery metal technologies and sustainable growth in North America's battery supply chain. The events include TD Cowen’s 2nd Annual Sustainability Week (May 21-23, 2024), Greenbiz Circularity 2024 (May 22-24, 2024), BASF Sustainability Matters (June 3-6, 2024), and more. Key ABAT executives, including CEO Ryan Melsert and CFO Jesse Deutsch, will share insights on topics such as circular economies, lithium-ion battery recycling, and critical minerals supply chains. These engagements highlight ABAT's commitment to sustainability and innovation in battery technology.

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American Battery Technology Company (NASDAQ: ABAT) announced its third quarter fiscal year 2024 financial results, ending March 31, 2024. The company focuses on battery recycling and lithium hydroxide production. Key achievements include expanding shifts at its Nevada recycling facility, producing recycled materials, and securing agreements for product sales. ABTC received $60 million in tax credits and $10 million in DOE grants. The Tonopah Flats Lithium Project showed an 8% increase in lithium grades and a 7% cost reduction. Financially, ABTC had $6 million in cash, with reduced property acquisition expenses, and paid down convertible note obligations to $9 million.

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American Battery Technology Company (ABTC) has achieved a significant milestone by demonstrating a fixed duration operation of its commercial-scale lithium-ion battery recycling facility at over 115% of its maximum design rate. This accomplishment signifies the company's capability to increase battery metals manufacturing for U.S.-based strategic customers through cutting-edge recycling technologies. With support from the U.S. Department of Energy grants and recent tax credit awards, ABTC is set to introduce battery grade metals into the North American supply chain, reducing reliance on imported materials.

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American Battery Technology Company (ABTC) has hired Scott Smith, a former Tesla executive, as its vice president of financial planning and analysis. Smith brings over a decade of finance expertise and experience in the electric vehicle and consumer goods sectors. His role is integral to ABTC's strategic growth and commercialization efforts in battery recycling and lithium manufacturing.

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American Battery Technology Company has published an updated Initial Assessment for its Tonopah Flats Lithium Project, featuring a commercialization plan focusing on Measured and Indicated Mineral Resources. The project metrics show a reduction in claystone processed, an increase in average grade, a decrease in production costs, and an increase in net present value. The company's CEO led a virtual walkthrough of the lithium deposits, highlighting key project updates and next steps.
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American Battery Technology Company (ABTC) has announced the commissioning of a first-of-its-kind lithium hydroxide pilot plant in Nevada, showcasing its internally-developed production process. The plant aims to access a domestic primary lithium resource and produce battery-grade lithium hydroxide for strategic customers, marking a significant milestone in the company's commercialization efforts.
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American Battery Technology Company (ABTC) receives an additional $40.5 million award through the 48C program to accelerate the construction of a new lithium-ion battery recycling facility in the US, aiming to expand the North American closed-loop battery metals supply chain.
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FAQ

What does American Battery Technology Company do?

American Battery Technology Company specializes in the exploration, mining, extraction, and recycling of battery metals, with a focus on lithium-ion batteries and sustainable technologies.

Where is American Battery Technology Company located?

The company is headquartered in Reno, Nevada, and holds significant mining claims in the Western Nevada Basin.

What recent achievements has ABTC made?

ABTC recently ramped its lithium-ion battery recycling facility to over 115% of its design capacity and secured several significant grants and tax credits to support its operations.

What is the Tonopah Flats Lithium Project?

The Tonopah Flats Lithium Project is one of the largest known lithium resources in the U.S., with significant potential for long-term lithium production and strong financial returns.

Who are the key leaders of ABTC?

The leadership includes CEO Ryan Melsert, CFO Jesse Deutsch, and Board member Susan Yun Lee, among other industry veterans.

What are ABTC's core technologies?

ABTC employs innovative technologies in lithium-ion battery recycling and battery metals extraction to create sustainable and cost-effective solutions.

What are the company’s financial highlights?

ABTC reported government grant funding of $3 million for the nine months ending March 31, 2024, and significantly reduced cash used for capital expenditures compared to the prior year.

How is ABTC contributing to sustainable energy?

ABTC is committed to a circular supply chain for battery metals, continuously innovating to support the global transition to electrification and sustainable energy.

What partnerships does ABTC have?

ABTC has engaged with several strategic partners, including U.S. DOE and various automotive and battery manufacturers, to advance its recycling and extraction technologies.

What are the company’s next steps?

ABTC plans to further expand its recycling operations, continue the development of the Tonopah Flats Lithium Project, and advance its commercial-scale lithium hydroxide refinery project.

American Battery Technology Company

Nasdaq:ABAT

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60.94M
58.60M
3.85%
8.93%
9.15%
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Mining, Quarrying, and Oil and Gas Extraction
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