American Battery Tech Shock: $115 Million Project Grant Axed, Stock Plunges

American Battery Technology Co. (NASDAQ:ABAT) stock tumbled Thursday after the U.S. Department of Energy (DOE) terminated its federal grant for a $115 million Nevada lithium hydroxide project.

ABAT stock is tumbling. See the real-time price action here.

DOE Grant Canceled

The grant, part of the DOE's Manufacturing Energy Supply Chain program, was designed to fund the construction of a commercial-scale lithium hydroxide production facility aimed at strengthening U.S. supply chain independence for EV batteries.

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The DOE's decision came after the Trump administration conducted heightened reviews of federal clean-energy spending.

American Battery Tech confirmed in an SEC filing that the grant was terminated on Oct. 9. The company reported that approximately $52 million in reimbursable DOE funds remained unused ...

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American Battery Tech Shock: $115 Million Project Grant Axed, Stock Plunges

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