American Battery Technology Company - ABML STOCK NEWS

American Battery Technology Company (ABML) is expanding its operations in response to the surging demand for lithium-ion battery recycling. The company has entered agreements to acquire a 137,000 square foot commercial-scale recycling facility in McCarran, Nevada, previously used for lead-acid battery recycling. This facility allows for rapid implementation of their advanced recycling technologies. The demand for domestically sourced battery metals has soared, with U.S. lithium-ion battery manufacturing capacity rising from 50 GWh/year to over 700 GWh/year. The acquisition is seen as a cost-effective means to accelerate commercial operations and support a circular economy for battery materials.

On March 7, 2023, American Battery Technology Company (ABML) announced a significant agreement with TechMet-Mercuria, securing a $20 million non-dilutive pre-payment for recycled battery metal products. This deal supports the commissioning of ABML's first integrated battery recycling facility, capable of processing over 20,000 MT of battery feedstock annually. The facility will convert lithium-ion batteries into valuable materials like copper and lithium hydroxide, contributing to a closed-loop economy. ABML's CEO, Ryan Melsert, emphasized that this agreement will accelerate operations and expand market reach for these critical materials.

American Battery Technology Company (ABML) announced an inferred resource of 15.8 million tons of lithium carbonate equivalent at its Tonopah Flats Lithium Project in Nevada, identified as one of the largest lithium deposits in the U.S. The company controls 100% of the mining claims across 10,340 acres. The resource estimate supports a processing rate of 200,000 tons of claystone per day, and leaching trials showed over 90% lithium extraction efficiency. ABML aims to advance the project with a Preliminary Economic Assessment and further drilling to expand resources. The findings are validated by third-party audits under SEC Regulation S-K 1300.

American Battery Technology Company (ABML) reported its financial results for the second fiscal quarter of 2023, ending December 31, 2022. The company highlighted significant progress in the construction of its lithium-ion battery Recycling Pilot Plant and the Tonopah Flats Lithium Project. Key achievements include a $57M U.S. DOE competitive grant negotiation for a lithium hydroxide facility and a $10M grant for advanced recycling technologies. Cash used in operations rose to $7.4 million, marking a 70% increase year-over-year, while total operating costs decreased by 65%. The company’s cash position stood at $11.4 million as of December 31, 2022.

American Battery Technology Company (ABML), based in Reno, Nevada, has made significant progress towards commissioning its lithium-ion battery recycling facility by hiring key leadership for its operations team. The new members, previously with companies like Tesla and Panasonic, bring substantial expertise in manufacturing and safety. Notably, Kevin Gagnon will manage the battery recycling plant, drawing from his experience running large operations with budgets exceeding $175 million monthly. ABTC's pilot plant aims to process 20,000 metric tonnes annually, recovering essential metals for the domestic battery supply chain.

American Battery Technology Company (ABML) is set to participate in several key industry events, starting with the BloombergNEF Summit on January 31, 2023. CEO Ryan Melsert will discuss critical mineral supply chains and the competitive sourcing of battery materials. Upcoming events include Greenbiz 23 (February 14-16, 2023), focusing on sustainable business practices, and the NAATBatt Annual Meeting (February 20-23, 2023), where ABTC will provide company updates and engage in networking. Melsert will also attend the BMO Capital Markets Conference from February 26 to March 1, 2023, for discussions relevant to the metals and battery industry.

American Battery Technology Company (ABML) has secured a $10 million grant from the U.S. Department of Energy under the Bipartisan Infrastructure Law to advance its lithium-ion battery recycling technologies. This funding will support the development and commercialization of innovative recycling processes aimed at reducing costs and environmental impacts. ABML plans to collaborate with academic and industry partners on this project. Additionally, the company recently received a separate $57 million DOE grant for a lithium hydroxide manufacturing facility.

American Battery Technology Company (ABTC) announced the results of its Inaugural Annual Shareholder's Meeting held on October 27, 2022. Shareholders approved all resolutions, including the election of five directors, the appointment of Marcum, LLP as the public accounting firm for the fiscal year ending June 30, 2023, and the adoption of amended bylaws. CEO Ryan Melsert highlighted the company's advancements in its lithium-ion battery recycling and primary metals manufacturing sectors, along with a recent Department of Energy grant aimed at enhancing domestic lithium hydroxide production for electric vehicles.

American Battery Technology Company (ABML) has received a $57 million grant from the U.S. Department of Energy to establish a first-of-its-kind lithium manufacturing facility in Nevada. This initiative aims to produce battery-grade lithium hydroxide, reducing reliance on imported materials. The project is expected to enhance American supply chains and create over 150 new jobs.

CEO Ryan Melsert emphasized the importance of domestic lithium sourcing for economic competitiveness and energy independence. This funding is part of a larger effort under the Bipartisan Infrastructure Law to boost the U.S. battery supply chain.