US Battery Technology Company Selected for US DOE Grant for $115M First-of-Kind Business-Scale Lithium Producing Facility

23/10/202223/10/2022 Drive Pilots

Accelerates Evolution of First-of-Kind, Sustainable, Secure US-Based Lithium Producing Facility

American Battery Technology Company, (ABTC) (OTCQB: ABML), an American essential battery substances business enterprise this is commercialising each its number one minerals production and secondary minerals lithium-ion battery recycling technology, become decided on as a recipient of aggressive investment beneath neath the Bipartisan Infrastructure Law to increase home production of battery grade lithium hydroxide for lithium-ion batteries for electric powered vehicles, with a focal point on home processing of substances and additives which are presently imported from overseas countries.

American Battery Technology Company

Sustainable, home sourcing of essential substances used to make lithium-ion batteries will toughen American delivery chains.

In collaboration with provide companions DuPont Water Solutions, University of Nevada, Reno, and Argonne National Laboratory, ABTC become presented $fifty seven million toward this venture from the U.S. Department of Energy (DOE) to design, construct, commission, and perform a first-of-type industrial scale facility to illustrate its novel method for the producing of battery cathode grade lithium hydroxide from unconventional Nevada-primarily based totally lithium-bearing sedimentary sources. By demonstrating at industrial scale this new low-value and low-environmental effect method for production of lithium merchandise from unconventional sedimentary sources, the home-U.S. lithium useful resource base may be increased and permit for the U.S. battery production delivery chain to perform in a self-maintaining closed-loop fashion. This award was introduced at some stage in a Presidential occasion in the White House, which blanketed an instantaneous communique about the significance of this venture among U.S. President Joe Biden, Secretary of Energy Jennifer Granholm, and ABTC CEO Ryan Melsert.

“We are honoured and excited to be decided on for this funding from the U.S. authorities to boost up the development and commissioning of our first-of-type industrial scale lithium refinery to fabricate battery grade metals from Nevada-primarily based totally sedimentary claystone sources,” said ABTC CEO Ryan Melsert. “The U.S. has unluckily been basically a non-participant in the lithium production enterprise in current decades, and at the same time as the state has hooked up huge quantities of multi-billion greenback electric car and lithium-ion battery factories in current years, almost 100% of the lithium substances that feed those centres are imported from overseas countries.”

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Currently, the sizable majority of lithium merchandise synthetic globally utilise traditional brines or tough rock ores as feedstock material, and much less than 1% of those lithium merchandise are sourced from within the U.S. Moreover, the implementation of accountable and sustainable home sourcing and processing of the essential substances used to fabricate lithium-ion batteries will toughen American delivery chains, boost up battery manufacturing to satisfy accelerated demand, and steady the state’s monetary competitiveness, strength independence, and countrywide security.

This provide hastens development at the demonstration and facility commercialization efforts already underway, as ABTC, in collaboration with DuPont and the University of Nevada, Reno, become presented a $4.5M provide from americaA Department of Energy in 2021 to construct and perform a multi-ton according to day demonstration-scale device to boost up the commercialization and scale-up of this essential lithium production generation.

This investment introduced via means of the DOE is the primary segment of over $7 billion in general supplied via means of the President’s Bipartisan Infrastructure Law for the battery delivery chain. The DOE’s Office of Manufacturing and Energy Supply Chains (MESC) is liable for strengthening and securing production and strength delivery chains had to modernise the state’s strength infrastructure and aid a smooth and equitable strength transition. MESC will control the portfolio of initiatives with aid from the DOE’s Office of Energy Efficiency and Renewable Energy’s Vehicle Technologies Office.

In addition to securing a sustainable, home delivery of battery grade lithium hydroxide, the venture as designed is meant to offer neighbourhood everlasting jobs, infrastructure improvements, academic opportunities, and different monetary developments. This application will paint to expand the subsequent technology of various scientists and engineers with a purpose to retain innovating for destiny generations. By leveraging sources and know-how of participating provide companions, the venture has the capacity to create over one hundred fifty new professional local jobs and foster neighbourhood community-pushed betterment via an surroundings and fairness centred micro-offers application. Building off our present day partnership in vicinity with the University of Nevada, Reno, ABTC will paint to increase STEM primarily based totally on schooling for deprived groups and scholar internship opportunities.

“American Battery Technology Company is demonstrating high-quality management withinside the improvement of technology and a brand new strength economic system at the campus of the University of Nevada, Reno,” stated University President Brian Sandoval. “Through the creation of jobs and internships, they may be giving new testimonies to our university college students and contributing to the preparedness and sort of our future scientists and the state.”

About American Battery Technology Company

American Battery Technology Company is uniquely located to deliver low-value, low-environmental effect, and locally sourced battery metals via its 3 divisions: lithium-ion battery recycling, number one battery metallic extraction technology, and number one source improvement.

American Battery Technology Company has constructed a smooth generation platform that is used to offer a key supply of locally synthetic essential and strategic battery metals to assist meet the close to insatiable demand from the electrical car, electric grid storage, and purchaser electronics industries. This ESG-principled platform works to create a closed-loop round economic system for battery metals that champions moral and environmentally sustainable sourcing of essential and strategic substances.

Forward-Looking Statements

This press launch contains “forward-searching statements” withinside the means of the secure harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, apart from statements of historic fact, are “forward-searching statements.” Although the American Battery Technology Company’s (the “Company) control believes that such forward-searching statements are reasonable, it can’t assure that such expectancies are, or will be, correct. These forward-searching statements contain some dangers and uncertainties, which can motivate the Company’s destiny effects to vary materially from the ones anticipated. Potential dangers and uncertainties include, amongst others, interpretations or reinterpretations of geologic facts, damaging exploration effects, lack of ability to achieve lets in required for destiny exploration, improvement or manufacturing, fashionable monetary situations and situations affecting the industries wherein the Company operates; the uncertainty of regulatory necessities and approvals; fluctuating mineral and commodity prices, very last funding approval and the capacity to achieve vital financing on suited phrases or at all. Additional facts concerning the elements that could motivate real effects to vary materially from those forward-searching statements is to be had withinside the Company’s filings with the Securities and Exchange Commission, such as the Annual Report on Form 10-K for the year ended June 30, 2022. The Company assumes no responsibility to replace any of the facts contained or referenced on this press launch.

Sources: PRNewswire/ Yahoo / American Battery Technology Company, (ABTC) (OTCQB: ABML), View original content to download multimedia