American Battery Technology Company (NASDAQ: ABAT) has released its financial results for the second quarter of fiscal year 2025, reporting significant advancements at its Reno, Nevada, battery recycling facility.
Key Operational Improvements
Following process enhancements and a temporary operational pause, the facility saw substantial increases in throughput:
- January 2025: Monthly throughput was 225% higher than the previous average.
- Early February 2025: Weekly throughput surged to 350% above prior averages.
During the three months ending December 31, 2024, ABAT generated $332,000 in revenue from sales of recycled products. The cost of goods sold was $2.1 million, after removing non-cash items. As of December 31, 2024, the company maintained a strong cash position, with $20.6 million in total cash, including $15.6 million available, and $5 million restricted.
Government grant reimbursements reached $2.3 million for the six-month period ending December 31, 2024.
Strategic Investments and Grants
ABAT has secured significant funding to expand its operations:
- $144 million DOE Grant: For a second recycling facility with five times the capacity of the existing facility.
- $57.7 million DOE Grant: To support the construction of a 30,000-tonne lithium hydroxide refinery near Tonopah, Nevada.
These strategic investments are designed to increase ABAT’s lithium-ion battery recycling capabilities and its domestic production of critical battery minerals.
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