Achieves major milestone by generating first revenue from recycled lithium-ion battery products sold to domestic battery manufacturing supply chain
RENO, Nev., Sept. 24, 2024 /PRNewswire/ -- American Battery Technology Company (ABTC) (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 its fiscal year (FY) 2024 financial results for the 12 months ended June 30, 2024.
Bringing first-of-kind technologies to market, ABTC's two business units of lithium-ion battery recycling and primary battery metals manufacturing are working to build a domestically-sourced, lithium-ion battery metals circular supply chain for North America.
"I am extremely proud of the ABTC team for rapidly progressing through purchasing a vacant facility, installing our internally developed battery recycling equipment, commissioning the processing train, and selling first product to customers within a single year," stated ABTC CEO Ryan Melsert. "Equally impressive, within this fiscal year in our primary battery metals manufacturing business unit, we evolved from bench scale trials, to designing and constructing a multi-tonne per day integrated demonstration facility, to commissioning this full system, to manufacturing our first large batch of battery grade lithium hydroxide, to hosting a visit from the U.S. Secretary of Energy Jennifer Granholm to personally examine our progress and witness our operations. Our employees are going above and beyond each day to accomplish these groundbreaking achievements to bring to life our company's vision."
Battery Recycling Business Milestones from Fiscal Year 2024:
Implementation of First Battery Recycling Facility: ABTC purchased a vacant building in Summer 2023, implemented its internally-developed lithium-ion battery recycling processing train in this facility, and completed construction and commenced commissioning of a 20,000 tonnes/year train in Fall 2023.
First Revenue from Battery Recycling Operations: ABTC manufactured commercial quantities of recycled products within this year and generated its first revenue from the sale of these products to its strategic domestic customers. Once fully ramped, this facility has the capacity to manufacture multiple ...
