American Battery Technology Company Selected for Highly Competitive $150 Million Federal Grant to be Applied Towards the Construction of its Second Lithium-Ion Battery Recycling Facility
American Battery Technology Company (NASDAQ: ABAT) has been selected for a $150 million federal grant from the U.S. Department of Energy to construct its second lithium-ion battery recycling facility. The new facility is designed to process approximately 100,000 tonnes of battery materials per year. ABAT's project will involve partners including BASF, Siemens, Clemson University, and Argonne National Laboratory.
The company plans to create 1,200 construction jobs and 300 operations jobs through this project. ABAT's first recycling facility near Reno, Nevada, was commissioned in Fall 2023. The company has previously received several competitive awards for both battery recycling and primary claystone-to-lithium hydroxide manufacturing technologies.
American Battery Technology Company (NASDAQ: ABAT) 猫 stata selezionata per un contributo federale di 150 milioni di dollari dal Dipartimento dell'Energia degli Stati Uniti per costruire il suo secondo impianto di riciclo delle batterie litio-ioni. Il nuovo impianto 猫 progettato per trattare circa 100.000 tonnellate di materiali per batterie all'anno. Il progetto di ABAT coinvolger脿 partner come BASF, Siemens, Clemson University e Argonne National Laboratory.
L'azienda prevede di creare 1.200 posti di lavoro nella costruzione e 300 posti di lavoro nelle operazioni attraverso questo progetto. Il primo impianto di riciclo di ABAT, situato vicino a Reno, Nevada, 猫 stato avviato nell'autunno del 2023. L'azienda ha ricevuto in precedenza diversi premi competitivi per le tecnologie di riciclo delle batterie e per la produzione di idrossido di litio a partire da claystone.
American Battery Technology Company (NASDAQ: ABAT) ha sido seleccionada para una subvenci贸n federal de 150 millones de d贸lares del Departamento de Energ铆a de EE. UU. para construir su segunda planta de reciclaje de bater铆as de litio-ion. La nueva instalaci贸n est谩 dise帽ada para procesar aproximadamente 100,000 toneladas de materiales de bater铆a por a帽o. El proyecto de ABAT involucrar谩 a socios como BASF, Siemens, Clemson University y Argonne National Laboratory.
La empresa planea crear 1,200 empleos en construcci贸n y 300 empleos en operaciones a trav茅s de este proyecto. La primera planta de reciclaje de ABAT, cerca de Reno, Nevada, fue inaugurada en oto帽o de 2023. La empresa ha recibido anteriormente varios premios competitivos por sus tecnolog铆as de reciclaje de bater铆as y fabricaci贸n de hidr贸xido de litio a partir de claystone.
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American Battery Technology Company (NASDAQ: ABAT) a 茅t茅 s茅lectionn茅e pour une subvention f茅d茅rale de 150 millions de dollars du D茅partement de l'脡nergie des 脡tats-Unis pour construire sa deuxi猫me installation de recyclage de batteries lithium-ion. La nouvelle installation est con莽ue pour traiter environ 100 000 tonnes de mat茅riaux de batterie par an. Le projet d'ABAT impliquera des partenaires tels que BASF, Siemens, Clemson University et Argonne National Laboratory.
La soci茅t茅 pr茅voit de cr茅er 1 200 emplois dans la construction et 300 emplois dans les op茅rations gr芒ce 脿 ce projet. La premi猫re installation de recyclage d'ABAT, situ茅e pr猫s de Reno, au Nevada, a 茅t茅 mise en service 脿 l'automne 2023. L'entreprise a pr茅c茅demment re莽u plusieurs prix comp茅titifs pour les technologies de recyclage des batteries et pour la fabrication de l'hydroxyde de lithium 脿 partir de claystone.
American Battery Technology Company (NASDAQ: ABAT) wurde f眉r einen federalen Zuschuss von 150 Millionen Dollar vom US-Energieministerium ausgew盲hlt, um ihre zweite Recyclinganlage f眉r Lithium-Ionen-Batterien zu bauen. Die neue Anlage ist darauf ausgelegt, etwa 100.000 Tonnen Batteriematerialien pro Jahr zu verarbeiten. Das Projekt von ABAT wird Partner wie BASF, Siemens, Clemson University und Argonne National Laboratory einbeziehen.
Das Unternehmen plant, 1.200 Arbeitspl盲tze im Bau und 300 Arbeitspl盲tze im Betrieb durch dieses Projekt zu schaffen. Die erste Recyclinganlage von ABAT in der N盲he von Reno, Nevada, wurde im Herbst 2023 in Betrieb genommen. Das Unternehmen hat zuvor mehrere Wettbewerbsawards f眉r sowohl das Recycling von Batterien als auch die Herstellung von Lithiumhydroxid aus Claystone erhalten.
- Secured $150 million federal grant for second battery recycling facility
- New facility designed to process 100,000 tonnes of battery materials annually
- Partnerships with major industry players like BASF and Siemens
- Expected to create 1,500 jobs (1,200 construction, 300 operations)
- Previously awarded multiple grants and tax credits for technology development and commercialization
- None.
Insights
This $150 million federal grant for ABAT's second lithium-ion battery recycling facility is a significant development. It substantially bolsters the company's expansion plans and validates its technology. The grant covers a large portion of the project costs, reducing financial risk for ABAT. This facility's 100,000 tonnes annual processing capacity represents a major scale-up from their first facility, potentially leading to substantial revenue growth.
The partnerships with BASF, Siemens and research institutions add credibility and support to ABAT's operations. The project's potential to create 1,200 construction jobs and 300 permanent jobs could lead to positive community relations and government support. However, investors should note that full project kickoff isn't expected until 2025, indicating a long-term horizon for realizing returns.
ABAT's track record of securing multiple DOE grants and tax credits (
ABAT's lithium-ion battery recycling technology appears to be a significant advancement over conventional methods. Their approach of strategic de-manufacturing and targeted chemical extraction contrasts with traditional high-temperature smelting or non-strategic shredding, potentially offering better efficiency and lower environmental impact.
The involvement of partners like BASF (for feedstock supply and product offtake) and Siemens (for engineering) suggests that ABAT's technology is gaining industry recognition. Collaboration with Argonne National Laboratory's ReCell Center further validates the technical merit of their approach.
The company's strategy of developing both recycling and primary lithium production from claystone is noteworthy, as it positions ABAT to address multiple aspects of the battery supply chain. This diversification could provide a competitive edge in the rapidly evolving EV battery market.
However, investors should be aware that bringing first-of-kind technologies to commercial scale often involves unforeseen challenges and delays. The 2025 project kickoff indicates a significant lead time before full commercialization.
The lithium-ion battery recycling market is poised for significant growth, driven by the rapid adoption of electric vehicles and increasing focus on sustainable resource management. ABAT's expansion with this second facility positions it to capture a larger share of this growing market.
The partnership with BASF is particularly noteworthy, as it secures both feedstock supply and product offtake, addressing key operational risks. This vertical integration could provide ABAT with a competitive advantage in terms of supply chain stability and potentially higher margins.
The company's focus on creating an energy equity, sustainable circular manufacturing ecosystem aligns well with current ESG investment trends. This could make ABAT more attractive to both institutional investors and environmentally conscious retail investors.
However, the battery recycling market is becoming increasingly competitive, with several large players entering the space. ABAT will need to execute flawlessly to maintain its technological edge and secure market share. The long timeline to project kickoff (2025) also means that market conditions and competitive landscape could change significantly before the facility is operational.
Company expanding critical commercial operations of next-generation lithium-ion battery recycling technologies to expand North American closed-loop battery metals supply chain supporting America's transition to electrification
This facility will be the company's second commercial-scale lithium-ion battery recycling facility and is designed to process approximately 100,000 tonnes of battery materials per year from its battery manufacturer, automotive OEM, and community partners.
"We are extremely honored to be selected for this government investment to further expand our domestic battery recycling operations, and after having gone through nearly one-year of technical and economic evaluation, we appreciate the level of diligence that the government employed in making this decision," stated ABTC CEO Ryan Melsert. "We are greatly appreciative of the confidence and support we have received from our partners throughout this process and are energized to move forward with our feedstock supply, product offtake, and strategic stakeholders in this critical expansion of our domestic capabilities."
True to the company's strategic model to engage a diverse portfolio of partners and stakeholders to bring advanced battery technologies online and establish a commercial battery metals supply chain for
ABTC constructed and commissioned its first lithium-ion battery recycling facility near
Through this new facility construction project, ABTC will employ a proactive, community-driven engagement model to build an energy equity, sustainable circular manufacturing ecosystem that aims to create 1,200 construction jobs and 300 operations jobs. The company will work in direct partnership between communities, educational institutions, industry, government, the National Laboratory system, and the next generation workforce to support equitable and sustainable initiatives that benefit and strengthen in local communities, including in underserved communities that have historically been left behind.
ABTC is partnering with government entities and local educational institutions, such as ANL's STEP department and Clemson University, to create career pathways in battery recycling and establish a talent pipeline for the domestic battery recycling industry.
Bringing first-of-kind technologies to market,听ABTC's battery recycling and primary battery metals commercialization efforts support the buildout of a domestically-sourced battery metals circular supply chain.听 ABTC has been selected for several competitive awards supporting the advancement and commercialization of its first-of-kind technologies for both battery recycling and primary claystone-to-lithium hydroxide manufacturing.听
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- October 2021: ABTC was awarded a competitive grant for a from the United States Advanced Battery Consortium (USABC) supported by funding from US DOE to foster the recycling of battery packs and extraction of battery metals, with USABC cost contributions of
$500 k - November 2022: , optimize, and commercialize three next generation technologies to even further enhance the performance of its recycling operations, with a federal contribution of
$10 million - March 2024: to be applied towards capital expenditures of its first battery recycling facility near
Reno, Nevada . - March 2024: to be applied towards capital expenditures of its second battery recycling facility.
- TBD 2025: .
- October 2021: from the
U.S. DOE for the demonstration of its battery-grade lithium hydroxide production fromNevada claystone resources, with federal contributions of$2.27 million - October 2022: from the
U.S. DOE to construct a commercial-scale lithium hydroxide refinery, with a federal contribution of$57.7 million
These battery recycling technologies were developed in-house by the ABTC R&D, project management, and engineering team members, many of whom were previously members of the founding Tesla Gigafactory design and engineering teams. 听ABTC intends to utilize these significant experiences in collaboration with project partners to scale processes and bring first-of-kind commercial-scale facilities online and leveraging this expertise to de-risk ABTC's commercialization of this second battery recycling facility.
As ABTC has now completed the technical and economic evaluations and been selected for this competitive grant award, it will next enter the grant award contracting phase of this process with an expected project kickoff in 2025.
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About American Battery Technology Company听
American Battery Technology Company (ABTC), headquartered in
Forward-Looking Statements 听
听This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the
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FAQ
What is the value of the federal grant ABAT received for its new recycling facility?
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When did ABAT commission its first lithium-ion battery recycling facility?
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