ABTC Engages World-Class Global Engineering, Procurement, and Construction Solutions Leader Black & Veatch

Rhea-AI Summary

American Battery Technology Company (ABML) has announced the initiation of a commercial-scale lithium hydroxide manufacturing facility in Smoky Valley, Nevada, marking a significant milestone in the energy sector. The project, supported by a grant from the U.S. Department of Energy, aims to produce 30,000 metric tons of lithium hydroxide annually using innovative methods to extract battery-grade materials from local sedimentary resources. Black & Veatch has been selected for engineering, procurement, and construction, reflecting the project's crucial role in enhancing the domestic supply of critical battery metals amid rising demand in the electric vehicle and energy storage sectors. This facility is part of ABML's broader strategy to foster a sustainable, circular economy in battery metal production.

Positive

• Initiation of a commercial-scale lithium hydroxide facility in Nevada.
• Projected production capacity of 30,000 metric tons per year.
• Project supported by a U.S. Department of Energy grant.
• Collaboration with Black & Veatch enhances project credibility.

Negative

• None.

Initiates Design, Construction of First-of-Kind Commercial-Scale Sedimentary-Based Lithium Hydroxide Manufacturing Facility in Smoky Valley, Nevada

RENO, Nev., April 17, 2023 /PRNewswire/ -- American Battery Technology Company (ABTC) (OTCQX: ABML), an American critical battery materials company commercializing both its primary minerals manufacturing and secondary minerals lithium-ion battery recycling technologies, has engaged global critical infrastructure solutions leader Black & Veatch in a technical services agreement to support the design, construction, and commissioning of ABTC's first commercial-scale lithium hydroxide manufacturing facility in Tonopah, Nevada.

ABTC engages engineering, procurement, and construction firm Black & Veatch for NV lithium hydroxide manufacturing plant

The design and construction of this first-of-kind facility, supported by a competitively selected U.S. Department of Energy (DOE) grant, will commercialize ABTC's novel process for the manufacturing of battery-grade lithium hydroxide from unconventional Nevada-based lithium-bearing sedimentary resources, and will have the capacity to initially produce 30,000 metric tons of lithium hydroxide per year.

"The successful engineering, procurement, and construction of this first-of-kind facility is critically important to the energy security of the United States, and to support the rapidly growing domestic lithium-ion battery industry," said ABTC CEO Ryan Melsert. "The selection of Black & Veatch to provide these services is an extremely important decision, and as such we implemented a global competitive search process and received bids from over a dozen of the largest premier construction firms in the world."

Melsert added, "With Black & Veatch's immense experience in the global high-purity chemicals manufacturing space, track record of successful on-budget and on-time projects, and significant experience working with government-funded projects, we are extremely fortunate to be able to form this relationship and long-term engagement with such a global leader."

At the forefront of critical infrastructure innovations for more than a century, Black & Veatch has deep expertise in delivering sustainability solutions to clients in the rapidly transforming critical minerals chemical refining space. The company's chemical refining client segment assists companies in driving down costs, integrating greener approaches, and bolstering efficiencies. Black & Veatch has immense experience with first-of-a-kind engineering (FOAKE) projects and has worked extensively with startups, including 15-20% of all Cleantech 100 companies, to bring their visions to reality and transition from concepts to commercialization.  With its role in the ABTC Tonopah Flats lithium project, Black & Veatch is demonstrating the transversal skill sets needed to promote and deliver both on decarbonization and electrification.

"Black & Veatch champions efforts to decarbonize the transportation space, and this project reinforces our commitment to environmental sustainability and the promising societal role of electric vehicles (EVs) and broader battery storage applications in pursuit of a greener, more resilient planet," said Laszlo von Lazar, president of Black & Veatch's energy and process industries business. 

In recent years, demand for domestically produced and sustainably sourced battery metals in the United States has grown exponentially as consumer, corporate, and government entities prioritize the decarbonization of transportation sectors. The U.S. Inflation Reduction Act (IRA), passed in the Fall of 2022, includes mechanisms to incentivize EV manufacturers and consumers to purchase EVs that source critical battery metals from domestic manufacturers.

The signing of this technical services agreement marks a major milestone in the commercialization of ABTC's Tonopah Flats Lithium Project, which will help to provide a domestic supply of critical battery materials needed for the U.S. energy transition, and will do so through the sustainable manufacturing of battery-grade lithium hydroxide. Based on a recent third-party audited analysis and published Inferred Resource Report, the ABTC Tonopah Flats Lithium Project was identified as one of the largest known lithium deposits in the U.S. with an inferred resource of 15.8 million tons of lithium carbonate equivalent.

This project is being funded in part by the U.S. DOE and engages several world-class partners throughout private industry, government laboratories, and public universities to optimize and commercialize the next generation of low-cost, low-environmental impact and domestically implemented advanced battery metal manufacturing facilities. In 2021, ABTC, in collaboration with DuPont and the University of Nevada-Reno, was awarded a $4.5-million grant from the DOE to build and operate a multi-ton-per-day demonstration-scale system to accelerate the commercialization and scale-up of this critical battery-grade lithium manufacturing technology. As a result of the early successes of this project, in October 2022 ABTC was selected for an additional competitively awarded U.S. DOE grant for a $115M project funded through the Bipartisan Infrastructure Law to support the construction of this commercial-scale primary lithium hydroxide manufacturing facility.

Editor's Notes:

• For more about Black & Veatch's mining solutions, click here. 

About American Battery Technology Company
American Battery Technology Company provides a key source of domestically manufactured critical battery metals to help meet the near insatiable demand from the electric vehicle, electrical grid storage, and consumer electronics industries. The company's ESG-principled focus works to create a closed-loop circular economy for battery metals with ethical and environmentally sustainable sourcing of critical and strategic materials. Through its three divisions, lithium-ion battery recycling, primary metal extraction technologies and primary resource development, the company is uniquely positioned to supply low-cost, low-environmental impact, and domestically sourced battery metals. www.americanbatterytechnology.com.

About Black & Veatch 
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable critical infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2022 were US$4.3 billion. Follow us on www.bv.com and on social media.

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, 2022. The Company assumes no obligation to update any of the information contained or referenced in this press release.

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SOURCE American Battery Technology Company

FAQ

What is the significance of ABML's new lithium hydroxide facility in Nevada?

ABML's new facility aims to produce 30,000 metric tons of lithium hydroxide annually, supporting the growing electric vehicle market and energy storage needs.

Who is involved in the construction of ABML's lithium hydroxide plant?

ABML has engaged Black & Veatch for engineering, procurement, and construction services for the facility.

What grants is ABML receiving for its lithium hydroxide manufacturing project?

The project is supported by a grant from the U.S. Department of Energy, demonstrating federal backing for critical battery materials.

When was the announcement made regarding ABML's lithium hydroxide facility?

The announcement was made on April 17, 2023.

Which company is American Battery Technology Company (ABML)?

ABML focuses on providing domestically produced critical battery metals for the electric vehicle and energy storage industries.