Welcome to our dedicated page for American Battery Technology Company news (Ticker: abml), a resource for investors and traders seeking the latest updates and insights on American Battery Technology Company stock.
American Battery Technology Company (NASDAQ: ABAT) is a pioneering organization in the field of critical battery materials, based in Reno, Nevada. The company specializes in the exploration, mining, extraction, and recycling of battery metals, making it a key player in the United States' efforts to build a sustainable and domestically-sourced battery supply chain. Formerly known as Oroplata Resources, Inc., the company rebranded to its current name in May 2019 to better reflect its expanded focus on battery technology.
ABTC owns 647 placer mining claims covering approximately 12,940 acres in Nevada's western basin, situated in Railroad Valley in Nye County. Additionally, the company holds a 120-acre parcel of private property with water rights in Currant, Nevada, near Railroad Valley. These assets are strategic to their operations, particularly their flagship project, the Tonopah Flats Lithium Project, which is one of the largest known lithium resources in the United States.
In August 2023, ABTC took a significant step by securing permit approval for its third drill program, aimed at upgrading the resource classification of the Tonopah Flats Lithium Project. The company has also developed a clean technology platform that provides a key source of domestically manufactured critical and strategic battery metals. This ESG-principled platform aims to create a closed-loop circular economy for battery metals, ensuring ethical and environmentally sustainable sourcing.
The company's technological advancements are complemented by strong partnerships and federal investments. ABTC has received multiple grants from the U.S. Department of Energy (DOE), including a $115 million project funded through the Bipartisan Infrastructure Law to support the construction of a commercial-scale battery-grade lithium hydroxide manufacturing facility. Other notable collaborations include partnerships with DuPont, the University of Nevada, Reno, and Argonne National Laboratory.
ABTC is also making strides in lithium-ion battery recycling. In October 2023, the company announced the operational start-up of its commercial-scale lithium-ion battery recycling facility in McCarran, Nevada. This facility, when fully ramped, will have the capacity to process over 20,000 metric tonnes of battery feedstock materials per year, producing recycled products including copper, aluminum, steel, and battery-grade lithium hydroxide.
ABTC's commitment to innovation and sustainability is further evidenced by its strategic move to list on the Nasdaq Capital Market under the symbol 'ABAT'. This uplisting marks a significant milestone for the company, providing greater exposure and increased access to global capital markets and institutional investors.
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.
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