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

American Battery Technology secures up to M investment for its battery material construction projects Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day’s top stories directly to your inbox. Sign up here!

(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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Leave a Reply

Copyright © All rights reserved. | Newsphere by AF themes.