American Battery Technology receives US DOE contract for $20M lithium-ion battery recycling project
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(Kitco News) - American Battery Technology Company (ABTC) (NASDAQ: ABAT) announced on Wednesday that it has received a contract grant award for its $20 million project from the U.S. Department of Energy (DOE).
According to ABTC, the project is a multi-partner industry collaboration to demonstrate and commercialize next generation techniques for lithium-ion battery recycling processes to manufacture low-cost and low-environmental impact domestic critical battery materials.
As part of this industry collaboration, ABTC is serving as the prime recipient of this grant award, and is working in partnership with three public universities, three national laboratories, and one private corporation.
The company said that through this competitive grant award, the U.S. DOE will provide $10 million in direct funding, while ABTC and its project partners will contribute an additional $10 million worth of cost-share resources, bringing the total project investment to $20 million.
“ABTC and its partners intend to validate, test, and deploy three new first-of-kind disruptive advanced separation and processing technologies to further enhance the economic competitiveness, reduce environmental impact, and re-integrate an even greater percentage of the constituent components to the domestic battery manufacturing market,” the company said in a press release.
ABTC added it is currently implementing and commissioning the first phase of its commercial-scale integrated lithium-ion battery recycling technologies at its facility located in the Tahoe-Reno Industrial Center.
American Battery Technology Company is an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling.
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