- American Battery Technology Company (NASDAQ:ABAT) demonstrates ability to manufacture commercially-viable lithium product with its internally-developed processing technologies from a U.S resource, diminishing reliance on foreign entities
- Demonstration-scale quantities of manufactured lithium hydroxide to be used for qualification processes by strategic partners in negotiation of long-term commercial-scale offtake agreements that can directly support build out of a North American Critical Battery Minerals Supply Chain
- Successful operation of demonstration facility allows for acceleration of construction and operations of U.S. Department of Energy (DOE) grant supported 30,000 MT LiOH/year commercial-scale domestic refinery to be located at its Tonopah Flats Lithium Project, one of the largest known lithium deposits in the United States
RENO, Nev., June 18, 2024 /PRNewswire/ -- American Battery Technology Company (NASDAQ: ABAT), an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, announced that it has successfully manufactured demonstration-scale quantities of lithium hydroxide material produced in its integrated facility specifically utilizing its own lithium bearing claystone material from its Tonopah Flats Lithium Project (TFLP) resource near Tonopah, Nevada.
"There are currently multiple corporations constructing multi-billion-dollar facilities for the manufacturing of high energy density cathode active material within North America, and these facilities require large amounts of lithium specifically in the form of battery grade lithium hydroxide as their feed material," stated ABTC CEO Ryan Melsert. "However, there are currently no commercial facilities within the U.S. to manufacture battery grade lithium hydroxide from U.S.-based resources. We are excited to have developed our own technologies for how to manufacture lithium hydroxide from our own U.S.-based unconventional claystone resource, to have constructed this integrated demonstration scale facility with support from the US Department of Energy through a competitive grant where we can process hundreds of tonnes of material, and to now be manufacturing large quantities of lithium hydroxide material to deliver to strategic customers for their qualification and long-term offtake agreement processes."
The signing of long-term purchase offtake agreements for battery grade lithium hydroxide is critical to the success of the corporations currently constructing facilities for the manufacturing of high energy density cathode active material. With the type of demonstration-scale facility that ABTC has constructed and is currently operating, large quantities of representative lithium hydroxide can be produced and delivered to these automotive OEM, battery cell manufacturing, and cathode manufacturing corporations for qualification and evaluation in the process of negotiating and signing these long-term offtake agreements.
ABTC is working to further evolve this technology by constructing a commercial-scale 30,000 tonnes lithium hydroxide per year refinery utilizing this system design directly at its TFLP property, which has been identified as one of the largest lithium resources in the U.S. In October 2022, ABTC was selected for an additional competitively awarded $57.5 million grant from the U.S. DOE for a $115M project to support the construction of this commercial refinery. ABTC has engaged one of the premier global construction firms, Black & Veatch, for the engineering, procurement, and construction of this commercial-scale lithium hydroxide refinery.
Lithium products are generally manufactured from conventional feedstock resources, which include hard rock spodumene materials primarily from western Australia and lithium-rich brines primarily from South America, however the U.S. does not have large quantities of these developed conventional resources. As a result, in order to significantly increase U.S. production of battery grade lithium products, ABTC has developed a set of processing technologies specifically for use with the unconventional resource of lithium-bearing claystone that is found in Nevada. ABTC has now explored and developed its own lithium-bearing claystone resource at its more than 10,000 acre Tonopah Flats Lithium Project, which has been assessed to be one of the largest identified lithium resources in the U.S.
Concurrently, the company is also commercializing its first-of-kind technologies for its battery recycling operations and has successfully manufactured a large inventory of recycled battery metal products at its commercial-scale recycling facility in Storey County, Nevada. ABTC's internally-developed recycling processes utilize an upfront strategic de-manufacturing process followed by a targeted chemical extraction train in order to recover battery materials with high yields, low cost, and with a low environmental footprint. These ABTC recycling technologies have won several competitive corporate awards and government grants and are fundamentally different than conventional methods of battery recycling, which generally utilize either high temperature smelting operations or non-strategic shredding systems.
Bringing first-of-kind technologies to market, ABTC's battery recycling and primary battery metals commercialization efforts support the buildout of a domestically-sourced battery metals circular supply chain.
About American Battery Technology Company
American Battery Technology Company (ABTC), headquartered in Reno, Nevada, has pioneered first-of-kind technologies to unlock domestically manufactured and recycled battery metals critically needed to help meet the significant demand from the electric vehicle, stationary storage, and consumer electronics industries. Committed to a circular supply chain for battery metals, ABTC works to continually innovate and master new battery metals technologies that power a global transition to electrification and the future of sustainable energy.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are "forward-looking statements." Although the American Battery Technology Company's (the "Company") management believes that such 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, risks and uncertainties related to the Company's ability to continue as a going concern; interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available 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, 2023. The Company assumes no obligation to update any of the information contained or referenced in this press release.
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