American Battery Technology Company Receives $144 Million Grant Contract from U.S. Department of Energy for New Lithium-Ion Battery Recycling Facility

American Battery Technology Company (NASDAQ: ABAT) has recently been awarded a significant contract by the U.S. Department of Energy (DOE) for the construction of a second lithium-ion battery recycling facility. The grant, totaling $144 million in federal investment, is aimed at expanding the company’s battery recycling operations substantially.

This new facility marks a major expansion in American Battery Technology Company’s recycling capacity, with plans to process approximately 100,000 tonnes per year of battery materials. These materials will be sourced from various partners in the automotive OEM, cell manufacturing, and community sectors. The recycled materials, including battery-grade nickel, cobalt, manganese, and lithium hydroxide products, will be supplied to the North American market.

CEO Ryan Melsert expressed pride in securing this competitive grant, emphasizing the facility’s role in meeting the growing demand within the domestic automotive and battery industries. The company’s technologies entail a strategic approach to processing battery materials that meet high-quality standards while ensuring cost-efficiency and low environmental impact.

The project leverages American Battery Technology Company’s internal team, which includes former members of Tesla’s Gigafactory design and engineering teams. The company’s strategy involves collaborating with various stakeholders, such as BASF, Siemens, Clemson University, Argonne National Laboratory, and others, to propel advanced battery technologies and establish a robust battery metals supply chain in North America.

The construction of this new facility aligns with the company’s commitment to community engagement and sustainability, aiming to create over 1,500 jobs and foster a circular manufacturing ecosystem. The grant-contracted project is set to commence from January 1, 2025.

American Battery Technology Company is headquartered in Reno, Nevada, and focuses on developing technologies for domestically manufactured and recycled battery metals. The company’s initiatives support the transition to electrification across industries like electric vehicles, stationary storage, and consumer electronics.

While looking forward to these developments, it is noted that this press release contains forward-looking statements subject to risks and uncertainties. As the company continues to innovate and navigate a dynamic industry environment, investors and stakeholders are advised to consider potential risks outlined in regulatory filings.

For media inquiries, please contact Tiffiany Moehring at [email protected] or 720-254-1556.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read American Battery Technology’s 8K filing here.

American Battery Technology Company Profile

American Battery Technology Company, a battery materials company, engages in supplying battery metals. The company explores for resources of battery metals; and develops and commercializes technologies for the extraction of battery metals, as well as commercializes integrated process for the recycling of lithium-ion batteries.