American Battery Technology's Strategic Sale Fuels Growth Plans
American Battery Technology Company Announces Legacy Property Sale
Reno, Nev. — American Battery Technology Company (ABTC) (NASDAQ: ABAT), a leader in critical battery materials, has made a significant move by announcing the sale of one of its unused legacy properties. This property, spanning 12 acres and located at 395 Logan Lane, is set to be sold for $6.75 million, with the closure of the deal anticipated before July 10, 2025. This strategic decision underscores the company’s commitment to advancing its technologies in lithium-ion battery recycling and mineral manufacturing.
Advancing Innovative Recycling Technologies
This property sale is expected to bolster ABTC's ability to refine its processes at its commercial-scale battery recycling facility situated at the Tahoe-Reno Industrial Center (TRIC). The operational facility at TRIC is crucial as it supports ABTC's priority to enhance innovative recycling capabilities. The company's initiatives are focused on creating a domestic supply of refined battery materials vital for the electric vehicle, stationary storage, and consumer electronics sectors.
CEO Ryan Melsert's Vision
According to ABTC CEO Ryan Melsert, the acquisition of the industrial recycling facility at TRIC has drastically accelerated the establishment of its first integrated, commercial-scale lithium-ion battery recycling operations. Ryan mentioned, "The sale of one of our legacy Fernley assets will provide additional resources to continue to execute the second phase of our advanced recycling technologies, strengthening our ability to foster the development of one of North America’s first closed-loop battery material supply chains.”
State-of-the-Art Recycling Facility
ABTC’s recycling facility is built on groundbreaking technology that combines sophisticated de-manufacturing processes with selective hydrometallurgical methods. This innovative, feedstock-agnostic system is designed to process various lithium-ion batteries, regardless of their size, shape, or chemistry. In its first operational phase, the facility successfully produces essential materials including copper, aluminum, steel, lithium intermediate, and black mass. As it transitions to the second phase, ABTC aims to produce battery-grade nickel sulfate, cobalt sulfate, manganese sulfate, and lithium hydroxide, all essential for new battery production.
Future Real Estate Plans
The company is also assessing opportunities concerning its nearby real property asset at 390 Logan Lane and its water rights holdings located in Fernley. This evaluation is part of ABTC's broader strategy to optimize its assets for enhanced operational efficiency.
About American Battery Technology Company
American Battery Technology Company (ABTC), headquartered in Reno, Nevada, has pioneered unique technologies aimed at unlocking domestically produced and recycled battery metals. With increasing demand from the electric vehicle and electronics industries, ABTC is committed to creating a circular supply chain for battery metals. The company continues to innovate and excel in developing battery metals technologies that facilitate the ongoing shift towards electrification and sustainable energy solutions.
Frequently Asked Questions
What is the significance of the property sale for ABTC?
The sale of the legacy property allows ABTC to redirect resources towards enhancing its lithium-ion battery recycling technologies and operations.
What are ABTC's main innovations?
ABTC focuses on advanced recycling technologies and processes to become a leading supplier of battery-grade materials necessary for modern energy systems.
How does ABTC contribute to sustainability?
By developing technologies for recycling battery metals, ABTC helps reduce waste and promotes a circular supply chain, crucial for sustainable energy practices.
When is the property sale expected to close?
The transaction for the legacy property is anticipated to finalize on or before July 10, 2025.
What materials does ABTC produce during battery recycling?
ABTC produces various materials, including copper, aluminum, lithium intermediate, and advanced battery materials like nickel sulfate and lithium hydroxide in the recycling process.
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