Reno, Nevada – February 14, 2025 – American Battery Technology Company (ABTC) (NASDAQ: ABAT), an integrated company focused on critical battery minerals, announced its financial results for the second quarter of fiscal year 2025, which concluded on December 31, 2024.
Key Highlights for Q2 FY2025
During the quarter, ABTC implemented key process improvements at its battery recycling facility near Reno, Nevada. This required a temporary operational pause but led to significant increases in subsequent plant throughput.
- Facility throughput in January 2025 exceeded 225% of the average monthly throughput from the previous quarter.
- Facility throughput in the first week of February 2025 exceeded 350% of the average weekly throughput from the prior quarter.
Despite the temporary operational pause, revenue from sales of recycled products totaled $332,000 for the three months ending December 31, 2024. The cash cost of goods sold for this period was $2.1 million, after excluding non-cash items like depreciation and stock-based compensation.
As of December 31, 2024, ABTC had $20.6 million in total cash, including $15.6 million of accessible cash and $5 million in restricted cash. The company received $2.3 million in government grant reimbursements for the six months ending December 31, 2024, compared to $1.7 million during the same period the prior year.
ABTC successfully completed safety audits, environmental reviews, and qualification processes with more global automotive and battery manufacturers, alongside other strategic original equipment manufacturers (OEMs).
Expansion and Grant Funding
As ABTC has engaged with OEMs for larger quantities of battery feed material than its first facility can process, the company is establishing a second battery recycling facility with approximately five times the throughput capacity of the first. On December 18, 2024, the company received a contract for a $144 million federal investment from the U.S. Department of Energy (DOE) to support the development and construction of this second facility.
Lithium Hydroxide Production
ABTC has technologies to manufacture battery-grade lithium hydroxide (LiOH) from Nevada-based claystone. The company operates an integrated pilot facility producing battery-grade lithium hydroxide for customer evaluation. Utilizing these demonstrated technologies, ABTC is designing and intends to construct a 30,000-tonne LiOH per year commercial-scale refinery near Tonopah, Nevada. The company was awarded a $57.7 million competitive grant from the US DOE to support this project.
Concurrent Commercialization Approach
ABTC is simultaneously developing manufacturing options for critical minerals from both its battery recycling and primary claystone-to-lithium operations. This allows ABTC to proceed with building and operating commercial manufacturing facilities for both sets of technologies, providing customers and partners with a diverse array of critical mineral products from domestic-US feed materials. Progressing these first-of-kind technologies from initial design phases to integrated piloting and commercialization requires a wide range of skills and resources. ABTC is advancing these technologies concurrently to bolster domestic-US energy independence, critical minerals dominance, and economic security.
Additional information and company updates are available at www.americanbattery.com/events-and-presentations, which includes the company’s Annual Meeting of Shareholders Fiscal 2024 presentation and video playback.
About American Battery Technology Company
American Battery Technology Company (ABTC), headquartered in Reno, Nevada, develops innovative technologies to unlock domestically manufactured and recycled battery metals to satisfy high demand from the electric vehicle, stationary storage, and consumer electronics industries. Committed to a circular supply chain for battery metals, ABTC continually innovates and refines battery metals technologies to empower 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 U.S. Private Securities Litigation Reform Act of 1995. All statements, except for those of historical fact, are considered forward-looking. Although ABTC management believes that such statements are reasonable, it cannot guarantee they are, or will be, correct. These forward-looking statements involve various risks and uncertainties that may cause future results to differ materially from anticipated results. Potential risks include, but are not limited to, ABTC’s ability to continue as a going concern, interpretations of geologic information, unfavorable exploration results, the ability to obtain necessary permits, general economic and industry conditions, regulatory requirements, mineral and commodity price fluctuations, investment approval, and the ability to secure necessary funding. Additional information regarding these factors is found 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, 2024. ABTC has no obligation to update any information in this press release.
Media Contact:
Tiffiany Moehring tmoehring@batterymetals.com 720-254-1556
