American Battery Technology Company Announces Start of Operations at its Commercial-Scale, Lithium-Ion Battery Recycling Facility in Nevada

Rhea-AI Summary

American Battery Technology Company (ABTC) announces the operational start-up of its lithium-ion battery recycling facility in Nevada.

Positive

• ABTC has achieved a significant milestone by commencing revenue-generating operations at its commercial-scale recycling facility.
• The facility has the capacity to process over 20,000 metric tonnes of battery feedstock materials per year.
• ABTC's integrated battery recycling system utilizes strategic de-manufacturing and targeted chemical extraction to recover battery materials with high yields and low cost.
• The company has secured a marketing agreement with global metals trader TechMet-Mercuria to sell its recycled products.

Negative

• None.

Signals significant milestone in commencing revenue-generating operations and introducing recycled battery-grade metals to secure US-battery metals supply chain

RENO, Nev., Oct. 11, 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 lithium-ion battery recycling, announced the operational start-up of its commercial-scale, lithium-ion battery recycling facility located in the Tahoe-Reno Industrial Center (TRIC) in McCarran, Nevada, initiating implementation of its first-of-kind lithium-ion battery recycling technologies at an industrial scale.

American Battery Technology Company has begun operations at its lithium-ion battery recycling facility in Nevada.

"We are excited to have achieved this major milestone and to now be generating commercial-scale quantities of domestic recycled battery metal products," stated ABTC CEO Ryan Melsert. "By securing our move-in-ready industrial facility in early 2023, we were able to greatly accelerate our timeline to operations, and the last step of receiving approvals for the updated operational permits for our specific internally-developed processes were received over the past week."

ABTC's first-of-kind integrated battery recycling system utilizes a strategic de-manufacturing and targeted chemical extraction train in order to recover battery materials with high yields, low cost, and with a low environmental footprint. These processes are fundamentally different than conventional methods of battery recycling, which utilize high temperature furnaces, such as in smelting operations, or non-strategic shredding or grinding systems. The ABTC system results in efficient separation, recovery, and purification of high-value battery-grade products with less environmental impact and greater cost efficiencies than conventional methods.

This commercial facility has the capacity to process over 20,000 metric tonnes of battery feedstock materials per year when fully ramped, and this first phase of operations will process these battery feedstock materials into recycled products including copper, aluminum, steel, a lithium intermediate, and a black mass intermediate material that will be sold through an already executed marketing agreement with the global metals trader TechMet-Mercuria. Once the second phase of this integrated recycling facility is operational, this 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.

"Our research & development, engineering, project management, and operations teams have been working with the commissioning of this facility as our highest priority, and we are proud to have accelerated our timelines to have installed our first piece of equipment within a month of gaining access to this new site, and to now have begun commercial operations less than six months later," stated Andrés Meza, chief operating officer for American Battery Technology Company. "We appreciate Storey County and Nevada Department of Environmental Protection (NDEP) in their work to permit and establish these processes, and we look forward to our continued engagements as we move through operations."

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 through the U.S. Advanced Battery Consortium (USABC), which is comprised of the US 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/american-battery-technology-company-announces-start-of-operations-at-its-commercial-scale-lithium-ion-battery-recycling-facility-in-nevada-301953607.html

SOURCE American Battery Technology Company

FAQ

What is the milestone achieved by ABTC?

ABTC has achieved the operational start-up of its lithium-ion battery recycling facility in Nevada.

What is the capacity of the facility?

The facility has the capacity to process over 20,000 metric tonnes of battery feedstock materials per year.

What is unique about ABTC's battery recycling system?

ABTC's system utilizes strategic de-manufacturing and targeted chemical extraction to recover battery materials with high yields and low cost.

Who has ABTC partnered with to sell its recycled products?

ABTC has a marketing agreement with global metals trader TechMet-Mercuria to sell its recycled products.