American Battery Technology Company Finalizes Purchase of Commercial

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21 Aug, 2023, 09:29 ET

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Commissioning of first-of-kind lithium-ion battery recycling technologies continues apace to help address supply chasm in sustainably-sourced battery metals imperative for transition to electrification

RENO, Nev., Aug. 21, 2023 /PRNewswire/ -- American Battery Technology Company (ABTC) (OTCQX: ABML), an American critical battery materials company that is commercializing both its primary minerals manufacturing and secondary minerals lithium-ion battery recycling technologies, has finalized the purchase of its commercial-scale battery recycling facility located in the Tahoe-Reno Industrial Center (TRIC) at 2500 Peru Drive, McCarran, Nevada. In March, ABTC entered into agreements to acquire the existing facility and the installed industrial utility equipment in order to accelerate the first commercial scale implementation of its internally-developed first-of-kind lithium-ion battery recycling technologies.

American Battery Technology Company finalizes purchase of commercial-scale lithium-ion battery recycling facility.

"The acquisition of this move-in ready industrial recycling facility has greatly accelerated our progress towards the first implementation of our integrated commercial-scale, lithium-ion battery recycling operations," stated ABTC CEO Ryan Melsert. "Within this facility we will have operations to receive a wide-range of end-of-life and scrap battery materials and process these materials all the way to battery grade metal products that we will sell to our domestic partners in order to create one of the first closed loop battery material supply chains within North America."

In April, ABTC entered into a short-term lease in order to commence the preparation of this 137,000 square foot facility for operations in parallel with the closing of the purchase transaction. As the facility was previously utilized for the recycling of lead-acid batteries, it was already equipped with much of the infrastructure and utility equipment necessary to implement the ABTC processes, including the electrical distribution, HVAC, compressed air, nitrogen, water treatment, material handling, analytical quality control, and operational control rooms.

The purchase transaction of this recycling facility has now closed, and with the use of the short-term lease over the past several months the ABTC team has already been installing its commercial-scale processing equipment and is preparing to begin integrated system commissioning. In tandem, the company has developed new facility-and technology-specific environmental, safety, and operational standards and procedures, and has been recruiting, hiring, and training new staff in preparation for operations.

This facility will house ABTC's first-of-kind integrated battery recycling system which utilizes a strategic de-manufacturing and targeted chemical extraction train in order to recover battery materials with high yields, low cost, and with a low environmental footprint. These processes are fundamentally different than conventional methods of battery recycling, which utilize high temperature furnaces, such as smelting, or non-strategic shredding or grinding systems. The ABTC system results in battery metals separation, recovery and purification of high-value, battery-grade products with less environmental impact and greater potential cost efficiencies than conventional methods.

As ABTC ramps up operations of its integrated recycling processes, the facility will be commissioned in phases. In the first phase battery materials will be recycled into products including copper, aluminum, steel, a lithium intermediate, and a black mass intermediate material. Once the second phase of this integrated recycling facility is operational, this lithium intermediate will be further refined into a battery grade lithium hydroxide product, and the black mass intermediate material will be further refined into battery grade nickel, cobalt, manganese, and lithium hydroxide products.

About American Battery Technology CompanyAmerican Battery Technology Company provides a key source of domestically manufactured critical battery metals to help meet the near insatiable demand from the electric vehicle, electrical grid storage, and consumer electronics industries. The company's ESG-principled focus works to create a closed-loop circular economy for battery metals with ethical and environmentally sustainable sourcing of critical and strategic materials. Through its three divisions, lithium-ion battery recycling, primary metal extraction technologies and primary resource development, the company is uniquely positioned to supply low-cost, low-environmental impact, and domestically sourced battery metals. www.americanbatterytechnology.com.

Forward-Looking StatementsThis 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, 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, 2022. The Company assumes no obligation to update any of the information contained or referenced in this press release.

SOURCE American Battery Technology Company