American Battery Technology Company Announces Commercial Transaction for Bulk Purchase of Recycled Black Mass Materials by National Strategic Customer

American Battery Technology Company Announces Commercial Transaction for Bulk Purchase of Recycled Black Mass Materials by National Strategic Customer

  • American Battery Technology Company (ABTC) achieves a major commercial milestone for its first-of-its-kind, in-house developed commercial-scale battery recycling facility by entering into a binding purchase agreement for the accumulated volume of its recycled black mass material from a strategic national customer
  • To ensure that recycled black mass feeds into the North American circular battery metals supply chain, rather than being sold to the Asian refining market, ABTC is strategically moving toward selling its products directly, rather than working indirectly through marketing agents.
  • Recycled black mass material from lithium-ion batteries contains metals such as lithium, nickel and cobalt that can be used in the manufacture of new lithium-ion batteries needed to power consumer electronics, stationary grid storage systems and electric vehicles.

RENO, Nevada, July 10, 2024 /PRNewswire/ — American Battery Technology Company (NASDAQ: ABAT), an integrated critical battery materials company commercializing its technologies for the manufacturing of primary battery minerals and the recycling of lithium-ion batteries from secondary minerals, has achieved a major commercial milestone by entering into a direct binding agreement to purchase its accumulated recycled black mass material from a national strategic customer’s first lithium-ion battery recycling facility.

American Battery Technology Company has started operations at its commercial lithium-ion battery recycling plant in October 2023The ABTC recycling plant utilizes its first integrated set of recycling processes based on a strategic deconstruction approach that utilizes a deconstruction process combined with a targeted selective hydrometallurgical process. This system is independent of feedstock form factors and can process lithium-ion batteries and manufacturing scrap of various sizes and shapes, and with a wide range of internal chemistries. The first phase of the recycling process produces recycled products that include copper, aluminum, steel, lithium intermediate and black mass intermediate material, and the second integrated phase further refines these materials into battery-grade nickel sulfate, cobalt sulfate, manganese sulfate and lithium hydroxide. The second phase of this integrated recycling system is currently being implemented.

The company had previously considered commercializing its black mass intermediate material globally, but the company’s strategic priority is to sell its recycled products domestically to ensure these products facilitate the establishment of a closed-loop, circular supply chain of battery metals in North America.

“We are proud to have manufactured large quantities of high-nickel and high-cobalt recycled black mass material at our commercial-scale lithium-ion battery recycling plant,” said ABTC CEO Ryan Melsert“In line with our business principles, we prefer to sell our recycled materials to the North American battery supply chain to facilitate the establishment of closed-loop domestic operations, rather than exporting these critical minerals overseas. We are also proud to have established strong relationships with domestic customers, which allows us to sell these recycled products directly rather than indirectly through brokers.”

By bringing first-of-its-kind technologies to market, ABTC’s efforts in battery recycling and commercialization of primary battery metals support the building of a circular supply chain of domestically sourced battery metals.

About American Battery Technology Company
American Battery Technology Company (ABTC), headquartered in Reno, NevadaABTC has developed innovative technologies to harness locally manufactured and recycled battery metals, which are critical to meeting significant demand in the electric vehicle, stationary storage and consumer electronics industries. Committed to a circular supply chain for battery metals, ABTC strives to continuously innovate and master new battery metal technologies that enable a global transition to electrification and a sustainable energy future.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are “forward-looking statements.” Although management of American Battery Technology Company (the “Company”) believes that such forward-looking statements are reasonable, it can give no assurance 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 relating to the Company’s ability to continue as a going concern; general economic conditions and conditions affecting the industries in which the Company operates; uncertainty of regulatory requirements and approvals; and fluctuations in mineral and commodity prices. Additional information regarding factors that could cause actual results to differ materially from these forward-looking statements can be found in the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2019. June 30, 2023The Company assumes no obligation to update the information contained or referenced in this press release.

SOURCE American Battery Technology Company