April 17, 2024

Grand Depart

Experienced In Technology

American Battery Technology secures up to $50M investment for its battery material construction projects

2 min read
American Battery Technology secures up to M investment for its battery material construction projects

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(Kitco News) – American Battery Technology Company (OTCQX: ABML), an integrated battery materials technology company, announced yesterday that the company has consummated a debt financing with a single institutional investor for up to $50 million in zero coupon, senior secured convertible notes.

The company said these funds will support the near-term expansion of ABTCs battery material processing operations, including lithium-ion battery recycling, primary lithium-hydroxide refinery and primary lithium resource development.

CEO Ryan Melsert commented, “This capital investment supports the continued development of our core projects as we evolve from pilot and demonstration scale systems up to commercial scale facilities in each of our business units.

“We evaluated a wide range of financing alternatives over the past several months, and the use of this debt financing is very well aligned with our growth plans.”

American Battery Technology Company is an integrated battery materials technology company. Through its three divisions, lithium-ion battery recycling, primary metal extraction technologies and primary resource development, the company plans to supply “low-cost, lower-environmental impact, and domestically sourced battery metals.”

ABTC currently has the first phase of its first commercial-scale recycling facility undergoing commissioning, which utilizes ABTCs internally-developed technologies for the strategic demanufacturing and recycling of battery components.

The company is also working to develop and commercialize its 10,340-acre lithium-bearing claystone deposit in Nevada, recently identified as one of the largest known lithium deposits in the U.S.

Additionally, ABTC has developed its own technologies for the refining of its lithium-bearing claystone resource into battery grade lithium hydroxide product. This set of integrated processes is currently being demonstrated in its pilot plant.









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