American Battery Technology Company Secures $144 Million Grant for Expanded Lithium-Ion Battery Recycling Operations
Reno, Nev., Dec. 18, 2024 – American Battery Technology Company (NASDAQ: ABAT) has received a $144 million grant from the U.S. Department of Energy (DOE) to support the construction of its second commercial-scale lithium-ion battery recycling facility. This new facility will have the capacity to process approximately 100,000 tonnes/year of battery materials, significantly expanding the company’s recycling capabilities.
The grant, awarded to American Battery Technology Company (ABTC) and its subcontractor Argonne National Laboratory, will facilitate the construction of a facility that will intake a wide variety of end-of-life and manufacturing scrap materials. The facility will output battery-grade nickel, cobalt, manganese, and lithium hydroxide products for sale in the North American market. This project represents a significant step in scaling the company’s internally developed recycling technologies and expanding the domestic supply of recycled battery materials.
“We are extremely proud to have been awarded this highly competitive grant contract from the U.S. DOE,” stated ABTC CEO Ryan Melsert. “This funding will directly support the additional capacity required to meet the growing demand from the domestic automotive and battery industry.”
The second facility is designed to have five times the processing capacity of the company’s first lithium-ion battery recycling plant. It will implement ABTC’s proprietary processes for the strategic de-manufacturing and targeted chemical extraction of battery-grade products at competitive costs and with a low environmental footprint. These processes have been demonstrated to produce battery-grade products meeting the rigorous specifications set by cathode refining customers.
ABTC has leveraged its in-house R&D, project management, and engineering teams to scale and de-risk the commercialization of this second battery recycling facility. The company has partnered with multiple stakeholders, including BASF, Siemens, Clemson University International Center for Automotive Research, Argonne National Laboratory, and the South Carolina Electric Transportation Network, to bring this project to fruition.
The construction of the new facility is expected to create 1,200 construction jobs and 300 operations jobs. ABTC will work in partnership with local communities, educational institutions, industry, government, and the next-generation workforce to support equitable and sustainable initiatives that benefit local communities.
The grant award is set to commence on January 1, 2025, marking a significant milestone in ABTC’s mission to establish a commercial battery metals supply chain for North America and contribute to a more sustainable energy future.
