Meeting the supply chain challenge through the execution of three strategic verticals
American Battery Metals Corporation (OTCQB:ABML) (the “Company”), an American-owned advanced extraction and battery recycling technology company with valuable mineral resources in Nevada, today commented on a Lux Research report that predicts the global energy storage market will grow to more than $500 billion over the next 15 years, from just $50 billion in 2019.
According to the report, the energy storage market is comprised in part of electric mobility applications- most notably electric vehicles- as well as stationary storage and consumer electronics. “The energy storage industry is poised for a massive increase in annual revenue and deployment capacity…” said Lux Research analyst and lead author of the report, Chloe Holzinger.
The report predicts the expansion of electric mobility applications will be driven by an annual growth rate for electric vehicles of nearly 19% per year, with a predicted increase in revenue to $27.6 billion by 2022. The electronic device market is expected to grow from $24 billion to $32 billion, while stationary storage is expected to grow from just over $9 billion last year to $112 billion in revenue by 2035.
“These consistent and explosive growth projections for the energy storage markets only tell half the story,” said American Battery Metals Corporation Chief Executive Officer, Doug Cole. “To keep pace with this astounding growth, new resources of key materials like lithium, cobalt, and nickel must be funded and developed. Beyond new mining projects, the recycling of existing energy storage feedstock is of paramount importance- we must recapture and reuse the valuable materials from end of life batteries and manufacturing waste.”
The United States in particular can no longer rely on foreign sources of these critical metals. American Battery Metals Corporation is meeting the supply chain challenge through the execution of its three strategic verticals. The company is set to launch commercial operations of its integrated lithium-ion battery recycling facility in the second half of 2020. The facility will process end-of-life and manufacturing scrap materials, extracting each of the key elements from electric vehicle and consumer electronic lithium-ion batteries. In parallel, American Battery Metals Corporation continues development of its environmentally sustainable extraction technology, and resource production projects.
American Battery Metals Corporation
American Battery Metals Corporation (www.batterymetals.com) (OTCQB:ABML) is an American-owned, advanced extraction and battery recycling technology company with valuable mineral resources in Nevada. The company is focused on its lithium-ion battery recycling and resource production projects in Nevada, with the goal of becoming a substantial domestic supplier of battery metals to the rapidly growing electric vehicle and battery storage markets.
For more information, please visit:www.batterymetals.com
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected project economics for Western Nevada Basin (Railroad Valley), including estimates of life of mine, average production, cash costs, AISC, initial CAPEX, sustaining CAPEX, pre-tax IRR, pre-tax NPV, net cash flows and recovery rates, the impact of self-mining versus contract mining, the timing to obtain necessary permits, the submission of the project for final investment approval and the timing of initial gold production after investment approval and full financing, metallurgy and processing expectations, the mineral resource estimate, expectations regarding the ability to expand the mineral resource through future drilling, ongoing work to be conducted at the Western Nevada Basin (Railroad Valley), and the potential results of such efforts, the potential commissioning of a Pre-Feasibility study and the effects on timing of the project, are “forward-looking statements.” Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended September 30, 2019. The Company assumes no obligation to update any of the information contained or referenced in this press release.