American Battery Technology Company Awarded $150 Million DOE Grant to Expand Battery Recycling Operations
RENO, Nev., Sept. 23, 2024 /PRNewswire/ — American Battery Technology Company (ABTC) (NASDAQ: ABAT), a company focused on battery materials, has been awarded a highly competitive grant of $150 million from the U.S. Department of Energy (DOE). The funding will be used to build a new lithium-ion battery recycling facility, strengthening the North American closed-loop battery metals supply chain and supporting the country’s shift toward electrification.
ABTC’s selection for the grant follows a rigorous technical and economic evaluation process.
“We are extremely honored to be selected for this government investment to further expand our domestic battery recycling operations, and after having gone through nearly one-year of technical and economic evaluation, we appreciate the level of diligence that the government employed in making this decision,” said ABTC CEO Ryan Melsert.
The company is already operating its first lithium-ion battery recycling facility near Reno, Nevada, which began operations in Fall 2023. This new facility will be designed to process approximately 100,000 tonnes of battery materials per year from various partners, including battery manufacturers and automotive OEMs.
Strategic Partnerships and Community Engagement
This project emphasizes ABTC’s strategy of partnering with a diverse group to advance battery technologies. Key partners include:
- BASF (feedstock supplier and product offtaker)
- Siemens (global engineering firm)
- Clemson University International Center for Automotive Research (CU-ICAR)
- Argonne National Laboratory (ANL) ReCell Center
- Argonne National Laboratory Sustainable Transportation Education & Partnerships (STEP) department
- South Carolina Electric Transportation Network (SCETNetwork)
ABTC plans to create a sustainable manufacturing ecosystem with an emphasis on energy equity and community involvement. The project is expected to generate approximately 1,200 construction jobs and 300 operations jobs.
ABTC is working with government entities and educational institutions, such as ANL’s STEP department and Clemson University, to build career pathways in battery recycling and establish a skilled workforce.
DOE Investments in ABTC
ABTC has previously received a series of awards from the DOE:
- October 2021: $2 million grant for battery recycling and metal extraction (USABC).
- November 2022: $20 million grant to scale and optimize three next-generation recycling technologies.
- March 2024: $20 million in qualifying advanced energy project tax credits (48C) for capital expenditures at its first recycling facility.
- March 2024: $40 million in qualifying advanced energy project tax credits (48C) for its second recycling facility.
- TBD 2025: $150 million grant to construct a second battery recycling facility.
These technologies were developed in-house by ABTC’s R&D and engineering teams, drawing on experience from the Tesla Gigafactory. ABTC anticipates the project to begin in 2025.
About American Battery Technology Company
American Battery Technology Company (ABTC), headquartered in Reno, Nevada, develops technologies for domestically manufactured and recycled battery metals. The company is committed to a circular supply chain that supports a sustainable energy future.
