American Battery Technology Company Secures up to $50M Investment to Support Commercial-Scale Battery Material Construction Projects
- ABTC secured a $50 million investment for commercialization projects
- ABTC received a $20 million DOE grant for battery recycling operations
- ABTC is developing a lithium-bearing claystone deposit with a resource of 15.8 million tons
- ABTC is constructing a lithium hydroxide refinery with a processing capacity of up to 5 metric tonnes per day
- None.
Supports Construction of Commercial Business Operations for US-Sourced Lithium-Ion Battery Materials through Recycling and Primary Resources
RENO, Nev. , Aug. 31, 2023 /PRNewswire/ -- American Battery Technology Company ("ABTC") (OTCQX: ABML), an integrated battery materials technology company, announced today that after completion of a competitive diligence process to secure funding to facilitate advancement of the company's commercial-scale construction projects, the company has consummated a debt financing with a single institutional investor for up to
"This capital investment supports the continued development of our core projects as we evolve from pilot and demonstration scale systems up to commercial scale facilities in each of our business units," stated ABTC CEO Ryan Melsert. "We evaluated a wide range of financing alternatives over the past several months, and the use of this debt financing is very well aligned with our growth plans."
These funds will support the near-term expansion of ABTCs battery material processing operations, including:
1) Lithium-Ion Battery Recycling: ABTC currently has the first phase of its first commercial-scale recycling facility undergoing commissioning, which utilizes ABTCs internally-developed technologies for the strategic demanufacturing and recycling of battery components. A second phase will subsequently be added that includes its targeted chemical extraction train for the manufacturing of battery grade critical materials, and a third phase of these battery recycling operations will be integrated to further increase the material recovery rates and decrease operating costs. ABTC was recently selected for a
2) Primary Lithium Resource Development: ABTC is working to develop and commercialize its 10,340-acre lithium-bearing claystone deposit in
3) Primary Lithium-Hydroxide Refinery: ABTC has developed its own technologies for the refining of its lithium-bearing claystone resource into battery grade lithium hydroxide product. This set of integrated processes is currently being demonstrated in its pilot plant, which is supported by a
A.G.P./Alliance Global Partners acted as sole placement agent for the financing.
About American Battery Technology Company
American Battery Technology Company provides a key source of domestically manufactured critical battery metals to help meet the 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, lower-environmental impact, and domestically sourced battery metals.
www.americanbatterytechnology.com.
*Inferred Resource
Inferred mineral resource is that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. Because an inferred mineral resource has the lowest level of geological confidence of all mineral resources, which prevents the application of the modifying factors in a manner useful for evaluation of economic viability, an inferred mineral resource may not be considered when assessing the economic viability of a mining project and may not be converted to a mineral reserve.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the
View original content to download multimedia:https://www.prnewswire.com/news-releases/american-battery-technology-company-secures-up-to-50m-investment-to-support-commercial-scale-battery-material-construction-projects-301914806.html
SOURCE American Battery Technology Company
FAQ
What is the purpose of the $50 million investment?
What projects will the funds support?
What is the size of the lithium deposit ABTC is developing?