Multi-partner industry collaboration
advancing and commercializing new battery recycling techniques for
increased product recovery, further reduction of environmental
footprint, and enhanced economic competitiveness
RENO,
Nev., Sept. 27, 2023 /PRNewswire/ -- American
Battery Technology Company (ABTC) (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,
has received a contract grant award for its $20 million project from the U.S. Department of
Energy (DOE) for a multi-partner industry collaboration to
demonstrate and commercialize next generation techniques for
lithium-ion battery recycling processes to manufacture low-cost and
low-environmental impact domestic critical battery materials.
American Battery Technology Company and its
partners to commercialize next-generation battery recycling
technologies.
"It is an important milestone to be commissioning the initial
portion of our integrated lithium-ion battery recycling facility to
be able to provide domestically produced low-cost and low
environmental impact battery metals to our strategic customers,"
stated ABTC CEO Ryan Melsert.
"However, any company that is complacent with current technologies
will not be competitive in the future, which is why we are also
prioritizing our pipeline of new advanced technologies that are
being evolved through our research, bench development, piloting,
and commercialization infrastructure."
As one of only five companies nation-wide selected for this
competitive funding under the battery recycling portion of the
'Electric Drive Vehicle Battery Recycling and Second Life
Applications' opportunity from the U.S. DOE under the Bipartisan
Infrastructure Law, ABTC and its partners intend to validate,
test, and deploy three new first-of-kind disruptive advanced
separation and processing technologies to further enhance the
economic competitiveness, reduce environmental impact, and
re-integrate an even greater percentage of the constituent
components to the domestic battery manufacturing market. This
contracted grant award has a project start date of October 1, 2023.
ABTC is currently implementing and commissioning the first phase
of its commercial-scale integrated lithium-ion battery recycling
technologies at its facility located in the Tahoe-Reno Industrial
Center. These processes utilize a strategic de-manufacturing
and targeted chemical extraction train in order to recover battery
materials with high yields, low cost, and with a low environmental
footprint. These processes are fundamentally different than
conventional methods of battery recycling, which generally utilize
either high temperature smelting or non-strategic shredding
systems.
While this initial implementation of the lithium-ion battery
recycling system undergoes commissioning, ABTC and its partners are
developing these next generation enhanced separation and processing
techniques in parallel at the laboratory and pilot scales that when
implemented into the commercial-scale system will allow for the
recovery of additional products and further reduction of energy and
water consumption and life cycle greenhouse gas emissions. Through
this U.S. DOE supported project, ABTC and its partners will
validate and optimize each of these advanced technologies at the
bench scale, then manufacture qualification batches of these
products for evaluation and testing by downstream partners,
followed by the scale-up of these advanced systems for integration
into ABTC's recycling operations.
As part of this industry collaboration, ABTC is serving as the
prime recipient of this grant award, and is working in partnership
with three public universities, three national laboratories, and
one private corporation. Through this competitive grant
award, the U.S. DOE will provide $10
million in direct funding, while ABTC and its project
partners will contribute an additional $10
million worth of cost-share resources, bringing the total
project investment to $20
million.
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, interpretations or reinterpretations of geologic
information, unfavorable exploration results, inability to obtain
permits required for future exploration, development or production,
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, final investment approval and the ability to obtain
necessary financing on acceptable terms or at all. 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, 2022. 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