American Battery Technology secures $50M investment for battery material construction

ABTC
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NEVADA, 4 September 2023: American Battery Technology Company (ABTC), an integrated battery materials technology firm, has successfully secured a significant investment of up to USD 50m through a debt financing arrangement with a single institutional investor. This funding is a major step in ABTC’s journey to advance its commercial-scale construction projects, particularly in the realm of lithium-ion battery materials. Let’s delve into the key areas this investment will bolster.

Lithium-Ion Battery Recycling

ABTC is at the forefront of lithium-ion battery recycling. The company is currently in the commissioning phase of its first commercial-scale recycling facility, where advanced technologies are employed for the strategic disassembly and recycling of battery components. This process significantly contributes to material recovery rates and cost reduction. The funds from this investment will directly support the expansion of these recycling operations. ABTC has also been selected for a USD 20m project by the US Department of Energy (DOE) to further advance this critical phase of recycling.

Primary Lithium Resource Development

ABTC is actively working to develop and commercialize a vast 10,340-acre lithium-bearing claystone deposit in Nevada, recognized as one of the largest such deposits in the US with an inferred resource of 15.8 million tons of lithium carbonate equivalent. These funds will support an ongoing exploration program aimed at upgrading the current ‘inferred’ resource classification to ‘measured and indicated.’ Additionally, the investment will facilitate permitting operations for the commercialization of this vital domestic resource.

Primary Lithium-Hydroxide Refinery

ABTC’s innovative technologies enable the refinement of lithium-bearing claystone into battery-grade lithium hydroxide products. Currently demonstrated in a pilot plant, these processes have a processing capacity of up to 5 metric tonnes per day. Encouraged by early successes, ABTC received a USD 115m grant from the US DOE in 2022 to construct a commercial-scale lithium hydroxide refinery based on these groundbreaking technologies. The newly secured investment will act as matching funds for this significant construction endeavor.

Conclusion

American Battery Technology Company’s achievement of securing a USD 50m investment highlights its dedication to advancing sustainable battery materials technology. With a strong focus on lithium-ion battery materials, recycling, and primary resource development, ABTC is contributing significantly to the development of eco-friendly battery solutions. This investment not only supports the company’s growth plans but also aligns with global efforts to transition towards cleaner and more sustainable energy technologies. Stay tuned for updates on ABTC’s commercial-scale projects, which play a vital role in shaping a greener future.

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