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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.
American Battery Technology Company (NASDAQ: ABAT) released its Q2 FY2025 financial results, highlighting significant operational improvements at its Reno battery recycling facility. After implementing process enhancements and a temporary operational pause, the facility achieved 225% higher monthly throughput in January 2025 and 350% higher weekly throughput in early February 2025 compared to previous averages.
The company reported Q2 revenue of $332,000 from recycled products, with cash cost of goods sold at $2.1 million. As of December 31, 2024, ABAT maintained $20.6 million in total cash, including $15.6 million available and $5 million restricted. Government grant reimbursements reached $2.3 million for the six months ended December 31, 2024.
ABAT secured a $144 million DOE grant for a second recycling facility with 5x capacity and a $57.7 million grant for a 30,000-tonne lithium hydroxide refinery near Tonopah, Nevada.
American Battery Technology Company (NASDAQ: ABAT) CEO Ryan Melsert delivered keynote addresses at several global events, including the Future Minerals Forum in Riyadh, World Economic Forum 2025 in Davos, and the Round Table on Sustainable Development in Paris. The presentations highlighted ABAT's progress in commercializing battery recycling facilities and its Nevada claystone-to-lithium hydroxide manufacturing refinery.
The company's integrated approach combines recycling, mining, and battery metals manufacturing to create a circular battery economy. ABAT's recycling technology utilizes a strategic de-manufacturing approach with selective hydrometallurgical processing, capable of handling various battery types and chemistries. Additionally, their claystone-to-lithium hydroxide processes demonstrate domestic extraction and refinement capabilities.
These developments aim to address the current challenges in the global battery supply chain, which is largely dominated by China, by localizing operations and ensuring supply chain security. The company's efforts align with increasing demand for critical battery minerals and clean energy technologies.
American Battery Technology Company (NASDAQ: ABAT) has initiated a new drill program to accelerate the commercialization of its Tonopah Flats Lithium Project (TFLP). According to their April 2024 Amended Initial Assessment, TFLP contains approximately 21.2 million tons of economically accessible lithium, making it one of the largest known lithium resources in the United States. Battery-grade lithium hydroxide can be manufactured at a production cost of $4,302/ton.
The company has engaged Truth North Drilling for core sample collections and Barr Engineering for mine plan development and prefeasibility study (PFS) publication. ABAT has also partnered with Black & Veatch for the engineering and construction of a 30,000 tonnes per year commercial-scale lithium hydroxide refinery at the TFLP site. The company has already successfully produced battery-grade lithium hydroxide from its TFLP claystone resource using its demonstration-scale facility.
American Battery Technology Company (NASDAQ: ABAT) has announced a $10 million registered direct offering, selling 3,773,586 shares of common stock and warrants. The offering is priced at $2.65 per share and accompanying warrant, slightly above the last closing price of $2.60. The warrants, exercisable immediately with a $2.80 strike price, will expire in five years.
The transaction, expected to close around December 27, 2024, is being conducted through A.G.P./Alliance Global Partners as the sole placement agent. The offering is made under an effective S-3 shelf registration statement filed with the SEC in June 2024.
American Battery Technology Company (NASDAQ: ABAT) has announced a $5 million registered direct offering, comprising 5,000,000 shares of common stock and warrants to purchase an additional 5,000,000 shares. The combined offering is priced at $1.00 per share and accompanying warrant, with warrants exercisable at $1.10 per share for five years from issuance. The offering, expected to close around December 23, 2024, involves two follow-on institutional investors. A.G.P./Alliance Global Partners serves as the sole placement agent. The net proceeds will be reduced by placement agent fees, offering expenses, and a required 20% excess cash payment to existing debtholders.
American Battery Technology Company (NASDAQ: ABAT) has secured a $144 million grant contract from the U.S. Department of Energy to build its second lithium-ion battery recycling facility. The new facility will have a processing capacity of 100,000 tonnes/year of battery materials, five times larger than their first plant. The facility will process end-of-life and manufacturing scrap materials to produce battery-grade nickel, cobalt, manganese, and lithium hydroxide for the North American market.
The project, starting January 1, 2025, involves partnerships with BASF, Siemens, Clemson University, and Argonne National Laboratory. The facility is expected to create 1,200 construction jobs and 300 operations jobs. ABTC has a strategic partnership with BASF for the purchase of its battery-grade metals, established in Summer 2023.
American Battery Technology Company (NASDAQ: ABAT) has joined the U.S. Department of Energy's Battery Workforce Challenge, introducing a new 'Design for Recyclability' category for a three-year collegiate and vocational engineering competition. The program involves twelve North American teams designing advanced lithium-ion battery packs for a 2024 Ram ProMaster EV.
ABTC will support students in developing battery packs with a focus on strategic disassembly and recycling, aiming to increase residual value and lower lifecycle costs. The challenge, sponsored by the DOE and Stellantis and managed by Argonne National Laboratory, includes partners like Samsung SDI America and the Volta Foundation. The initiative also aims to establish regional workforce training hubs for EV and battery manufacturing jobs.
American Battery Technology Company (NASDAQ: ABAT) released its fiscal year 2024 financial results, marking significant milestones in both its lithium-ion battery recycling and primary battery metals manufacturing business units. The company achieved its first revenue from recycled lithium-ion battery products sold to the domestic battery manufacturing supply chain. Key highlights include:
1) Implementation of a 20,000 tonnes/year battery recycling facility
2) Selection for multiple DOE grants and tax credits totaling over $200 million
3) Successful production of battery-grade lithium hydroxide from Nevada claystone
4) Release of an Initial Assessment for the Tonopah Flats Lithium Project
5) $3.3 million in government grant funding for FY 2024
6) $7 million cash on hand as of June 30, 2024
ABTC is focused on accelerated commercialization and sustainable growth in the battery materials sector.
American Battery Technology Company (NASDAQ: ABAT) has been selected for a $150 million federal grant from the U.S. Department of Energy to construct its second lithium-ion battery recycling facility. The new facility is designed to process approximately 100,000 tonnes of battery materials per year. ABAT's project will involve partners including BASF, Siemens, Clemson University, and Argonne National Laboratory.
The company plans to create 1,200 construction jobs and 300 operations jobs through this project. ABAT's first recycling facility near Reno, Nevada, was commissioned in Fall 2023. The company has previously received several competitive awards for both battery recycling and primary claystone-to-lithium hydroxide manufacturing technologies.
American Battery Technology Company (NASDAQ: ABAT) has appointed Steven Wu as its new Chief Operating Officer to accelerate the expansion of battery metals manufacturing operations. Wu brings extensive experience in scaling first-of-kind technologies into high-volume manufacturing operations, a important skillset as ABTC progresses in commercializing and ramping up efforts to build a resilient battery metals supply chain for North American customers.
Wu's background includes leadership roles at Rivian, Nuro, Uber, and Apple, where he demonstrated abilities in scaling production, managing partnerships, and leading operational teams. In his new role, Wu will be responsible for accelerating ABTC's commercialization efforts, overseeing manufacturing operations, and working on growth initiatives across the organization.
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