American Battery Technology Company Releases Second Quarter Fiscal Year 2024 Financial Report

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Company continues to ramp operations and manufacture commercial-scale quantities of recycled metal products at its first lithium-ion battery recycling facility, and has contracted and begun receiving funds for two U.S. Department of Energy grants supporting over $135 million of projects

RENO, Nev., Feb. 14, 2024 /PRNewswire/ — American Battery Technology Company (ABTC) (NASDAQ:ABAT), an integrated critical battery materials company that is commercializing its first-of-kind technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, announced its second quarter fiscal year (FY) 2024 financial results, for the period ending December 31, 2023.  

Highlights from Q2 FY2024 include: 

In August 2023, ABTC finalized the purchase of a move-in ready, unoccupied commercial-scale, industrial facility located in the Tahoe-Reno Industrial Center (TRIC), for the purpose of installing the first implementation of its integrated lithium-ion battery recycling technologies.
In October 2023, ABTC completed the construction and installation of the initial phase of its battery recycling systems into the TRIC facility and began processing commercial-scale quantities of battery materials into commercial quantities of sellable recycled battery metal products.
ABTC has continued to ramp the throughput of operations at this facility, and is currently adding a second shift of operations to further increase the rate of recycling operations.
ABTC’s battery recycling operations have successfully completed audit, environmental reviews, and qualification processes with several premier global automotive, battery manufacturers, and other strategic original equipment manufacturers (OEMs), and ABTC is currently in negotiations for quantities of feedstock that would represent several years’ worth of operations at the current TRIC facility.
As a result, in parallel to the finalization and contracting of these prospective long-term feedstock agreements, …

Full story available on Benzinga.com


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