Funding Directly Supports Further Accelerated Development and Commercialization of Advanced Battery Recycling Techniques for Increased Economic Competitiveness, Greater Reduction of Environmental Impact, and Enhanced Product Recovery Processes
RENO, Nev., November 17, 2022 /PRNewswire/ — The American Battery Technology Company (ABTC) (OTCQB: ABML), an American critical battery materials company that is commercializing both its primary mineral production and lithium-ion battery recycling technologies of lithium with secondary minerals, received an award $10 million additional competitive grant under the Bipartisan Infrastructure Law to demonstrate and commercialize next-generation techniques for its lithium-ion battery recycling processes to produce low-cost, low-impact household battery materials.
“Similar to the continuous development required by advanced lithium-ion battery technologies, the recycling of these batteries requires rigorous continuous improvement, optimization and commercialization efforts in order to advance the global innovation cutting edge of these technologies,” he said the CEO of ABTC Ryan Melsert. “We are excited to work with our diverse range of world-class partners across all sectors of private industry, public academia and government laboratories to optimize and commercialize these advanced techniques at low cost, low environmental impact and implemented nationwide.”
As one of five companies shortlisted for competitive funding under the battery recycling portion of the U.S. Department of Energy’s (DOE) “Electric Vehicle Battery Recycling and Second-Life Applications” opportunity, ABTC and its partners have been awarded close to $10 million validate, test, and implement three advanced disruptive separation and processing technologies at its existing lithium-ion battery recycling pilot plant to further enhance economic competitiveness, reduce environmental impact, and reintegrate an even greater percentage of constituent components into the household system battery manufacturing market. ABTC will work in partnership with Novonix Group, University of Nevada, Reno, University of Utah, North Carolina State University, National Renewable Energy Laboratory, Argonne National Laboratory and Idaho National Laboratory and ABTC will rely on Dainen Material and Novonix Group for further validation of downstream materials. The company and its project partners will contribute further $10 million in cost sharing resources, bringing the total investment of the project to $20 million.
ABTC is currently commissioning its integrated lithium-ion battery recycling pilot plant in Fernley, Nev, and this government funding will accelerate the demonstration and integration of next-generation advanced recycling techniques into this processing train. The company has already developed these advanced separation and processing techniques that will enable the recovery of additional products and further reduce energy and water consumption and lifecycle greenhouse gas emissions. Through this US DOE supported project, ABTC and its partners will validate and optimize each of these advanced technologies at bench scale, then produce qualification batches of these products for evaluation and testing by downstream partners, followed by scale-up of these advanced systems for integration into ABTC’s pilot recycling plant.
Last month, the company was shortlisted for an additional US DOE competitive award through the Bipartisan Infrastructure Law for approximately 57 million dollars to support the construction of its primary commercial-scale lithium hydroxide production facility to develop its unconventional sedimentary clay resource near Tonopah, Nev. This grant of primary lithium hydroxide from sedimentary clays accelerates progress in already ongoing facility demonstration and commercialization efforts, such as ABTC, in collaboration with DuPont and the University of Nevada, Renowas awarded a $4.5 million grant from US DOE in 2021 to build and operate a multi-ton per day demonstration scale system to accelerate commercialization and scale-up of this critical lithium production technology.
About American Battery Technology Company
American Battery Technology Company is uniquely positioned to provide low-cost, environmentally friendly, and domestically sourced battery metals through its three divisions: Lithium-Ion Battery Recycling, Primary Battery Metal Mining Technologies, and Development of primary resources.
American Battery Technology Company has built a clean technology platform that is being used to provide a key source of domestically produced critical and strategic battery metals to help meet the nearly insatiable demand from the electric vehicle, electric grid storage and of consumer electronics. This ESG-driven platform works to create a closed-loop circular economy for battery metals that supports the ethical and environmentally sustainable sourcing of critical and strategic materials.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are “forward-looking statements”. While management of American Battery Technology Company (the “Company”) believes these 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 geological information, adverse exploration results, inability to obtain necessary permits for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates, uncertainty of regulatory requirements and approvals, fluctuations in mineral and raw material prices, the approval of the final investment and the ability to obtain the necessary financing on acceptable terms or at all. results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended June 30, 2022. The Company undertakes no obligation to update any information contained or referenced in this press release.
SOURCE American Battery Technology Company