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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) 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.
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.
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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