- American Battery Technology Company (ABTC) has achieved a major commercial milestone for its first home-grown, commercial-scale battery recycling facility by signing a binding purchase agreement with a national strategic customer for a cumulative amount of recycled black mass material.
- To ensure that recycled black ingots are fed into the North American circular battery metals supply chain rather than sold into the Asian smelting market, ABTC is strategically moving to direct sales of its product rather than selling indirectly through marketing agents.
- Black material recycled from lithium-ion batteries contains metals such as lithium, nickel and cobalt that can be used to make new lithium-ion batteries needed to power consumer electronics, stationary grid storage systems and electric vehicles.
Reno, Nevada, July 10, 2024 /PRNewswire/ — American Battery Technology Company (NASDAQ: ABAT), an integrated critical battery materials company commercializing technologies for both primary battery minerals manufacturing and secondary mineral lithium-ion battery recycling, has achieved a major commercial milestone as a national strategic customer has signed a binding direct agreement to purchase accumulated recycled black mass material from the company’s first lithium-ion battery recycling facility.
American Battery Technology has begun operating a commercial lithium-ion battery recycling plant. October 2023The ABTC recycling facility utilizes the first integrated recycling process set based on a strategic dismantling approach that combines dismantling processes with targeted selective hydrometallurgical processes. The system is form-agnostic and can process lithium-ion batteries and manufacturing scrap of various sizes and shapes and with a wide range of internal chemistries. The first stage of the recycling process produces recycled products including copper, aluminum, steel, lithium intermediate and black mass intermediate materials, while the integrated second stage further refines these materials into battery grade nickel sulfate, cobalt sulfate, manganese sulfate and lithium hydroxide. The second stage of this integrated recycling system is currently being implemented.
While the company had previously considered selling its black mass intermediate materials internationally, the company’s strategic priority is to sell its recycled products domestically and ensure that these products help establish a closed-loop circular battery metals supply chain in North America.
“We are proud to have produced large quantities of nickel- and cobalt-rich recycled black mass material at our commercial-scale lithium-ion battery recycling facility,” ABTC’s CEO said. Ryan Melsart“In keeping with our company philosophy, rather than exporting these critical minerals overseas, we are keen to sell our recycled materials into the North American battery supply chain to help establish a domestic closed-loop operation. We also have strong relationships with domestic customers and are proud to be able to sell our recycled products directly to them without the need for a broker.”
ABTC’s battery recycling and primary battery metals commercialization efforts are bringing first-to-market technologies and supporting the creation of a circular supply chain for domestically produced battery metals.
About American Battery Technology Company
American Battery Technology Company (ABTC) Reno, Nevadahas developed a first-of-its-kind technology to unlock domestically produced and recycled battery metals, which are essential to meet the significant demand from the electric vehicle, stationary storage and consumer electronics industries. Committed to a circular supply chain for battery metals, ABTC strives to continually innovate and master new battery metals technologies that will drive the global transition to electrification and a sustainable energy future.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are “forward-looking statements.” Although management of American Battery Technology Company (the “Company”) believes that such forward-looking statements are reasonable, it can give no assurance that such expectations will or will prove to be correct. These forward-looking statements involve a number of risks and uncertainties that could cause the Company’s future results to differ materially from expectations. Potential risks and uncertainties include risks and uncertainties related to the Company’s ability to continue as a going concern, general economic conditions and conditions affecting the industry in which the Company operates, uncertainties of regulatory requirements and approvals, and fluctuations in mineral and commodity prices. Additional information regarding factors that could cause actual results to differ materially from these forward-looking statements is included in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended March 31, 2015. June 30, 2023The Company undertakes no obligation to update any of the information contained or referenced in this press release.
Source: American Battery Technology Company
