- American Battery Technology Company (ABTC) achieves major
commercial milestone for its internally-developed, first-of-kind,
commercial-scale battery recycling facility by entering into a
binding purchase agreement for accumulated volume of its recycled
black mass material to a domestic strategic customer
- Ensuring recycled black mass feeds the North American
circular battery metals supply chain, as opposed to being sold to
the Asian refining market, ABTC strategically shifts to direct sale
of its products, as opposed to working indirectly through marketing
agents
- Black mass material recycled from lithium-ion batteries
contains metals such as lithium, nickel, and cobalt that can be
used in the manufacturing of new lithium-ion batteries needed to
power consumer electronics, stationary grid storage systems, and
electric vehicles
RENO,
Nev., July 10, 2024 /PRNewswire/
-- American Battery Technology Company (NASDAQ: ABAT), an
integrated critical battery materials company that is
commercializing its technologies for both primary battery minerals
manufacturing and secondary minerals lithium-ion battery recycling,
achieved a major commercial milestone by entering into a direct
binding agreement for the purchase of its accumulated recycled
black mass material by a domestic strategic customer from its
first-of-kind lithium-ion battery recycling facility.
American Battery Technology Company began operations of its
commercial lithium-ion battery recycling plant in October 2023. The ABTC recycling facility
utilizes its first-of-kind integrated set of recycling processes
based on a strategic de-manufacturing approach that utilizes a
deconstruction process combined with a targeted selective
hydrometallurgical process. This system is agnostic to feedstock
form factors and can process lithium-ion batteries and
manufacturing scrap of a variety of sizes and shapes, and with a
wide range of internal chemistries. The first phase of the
recycling process produces recycled products that include copper,
aluminum, steel, a lithium intermediate, and a black mass
intermediate material, and the integrated second phase further
refines these materials into battery grade nickel sulfate, cobalt
sulfate, manganese sulfate, and lithium hydroxide. The second phase
of this integrated recycling system is currently being
implemented.
The company previously considered marketing its black mass
intermediate material throughout the world, but the company's
strategic priority is to sell its recycled products domestically to
ensure these products facilitate the establishment of a North
American closed-loop circular battery metals supply chain.
"We are proud to have manufactured bulk quantities of high
nickel and cobalt content recycled black mass material at our
commercial-scale, lithium-ion battery recycling facility," stated
ABTC CEO Ryan Melsert. "In
accordance with our corporate principles, we strongly prefer to
sell our recycled materials into the North American battery supply
chain in order to facilitate the establishment of closed-loop
domestic operations, as opposed to exporting these critical
minerals abroad. We also are proud to have established strong
relationships with domestic customers, that allow us to sell these
recycled products directly as opposed to indirectly through
brokers."
Bringing first-of-kind technologies to market, ABTC's battery
recycling and primary battery metals commercialization efforts
support the buildout of a domestically-sourced battery metals
circular supply chain.
About American Battery Technology Company
American Battery Technology Company (ABTC), headquartered in
Reno, Nevada, has pioneered
first-of-kind technologies to unlock domestically manufactured and
recycled battery metals critically needed to help meet the
significant demand from the electric vehicle, stationary storage,
and consumer electronics industries. Committed to a circular supply
chain for battery metals, ABTC works to continually innovate
and master new battery metals technologies that power a global
transition to electrification and the future of sustainable
energy.
Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. All statements, other
than statements of historical fact, are "forward-looking
statements." Although the American Battery Technology Company's
(the "Company") management believes that such forward-looking
statements are reasonable, it cannot guarantee that such
expectations are, or will be, correct. These forward-looking
statements involve a number of risks and uncertainties, which could
cause the Company's future results to differ materially from those
anticipated. Potential risks and uncertainties include, among
others, risks and uncertainties related to the Company's ability to
continue as a going concern; general economic conditions and
conditions affecting the industries in which the Company operates;
the uncertainty of regulatory requirements and approvals;
fluctuating mineral and commodity prices. Additional information
regarding the factors that may cause actual results to differ
materially from these forward-looking statements is available in
the Company's filings with the Securities and Exchange Commission,
including the Annual Report on Form 10-K for the year ended
June 30, 2023. The Company assumes no
obligation to update any of the information contained or referenced
in this press release.
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SOURCE American Battery Technology Company