American Battery Metals Corporation an American-owned lithium-ion battery recycling technology and advanced extraction company with extensive mineral resources in Nevada, which is in the process of changing its name to American Battery Technology Company, is pleased to provide the following Company updateAmerican Battery Metals Corporation is an industry leading clean technology innovator that has been created to …
American Battery Metals Corporation (OTCQB:ABML) (the “Company”), an American-owned lithium-ion battery recycling technology and advanced extraction company with extensive mineral resources in Nevada, which is in the process of changing its name to American Battery Technology Company, is pleased to provide the following Company update
American Battery Metals Corporation (soon to be re-named American Battery Technology Company “ABTC”) is an industry leading clean technology innovator that has been created to increase the production of primary metals used in batteries that power electric cars, grid storage applications, and consumer electronics.
ABTC has built its capabilities to produce these battery metals through three business divisions: 1) recycling of lithium-ion batteries to recover battery metals, 2) extraction from primary resources, and 3) exploration of new primary resources. Together, the three approaches comprise a unique technologies platform that ensures battery metals are domestically sourced and re-used in an environmentally friendly, closed-loop fashion. ABTC’s multi-pronged approach builds the foundation for a circular economy of battery metals that supports a global shift away from fossil fuel energy sources.
Our primary near-term objective is to escalate commercial application of our first-of-kind lithium-ion battery recycling and extraction capacities. Currently, we are:
- Developing a physical pilot factory;
- Expanding our technology and management team;
- Positioning our technology platform for commercial deployment; and
- Building strategic partnerships.
Expanding our team: ABTC has on-boarded key personnel in the areas of construction management, finance, logistics and chemical engineering to accelerate commercial deployment of our battery material extraction and recycling platform. Our leadership team has expanded with the promotion of Ryan Melsert to Chief Technology Officer and company Director and the hiring of Menka Sethi as Chief Operating Officer. David Corsaut has also joined ABTC as Chief Financial Officer, Scott Jolcover has joined as Chief Resource Officer, and David Batstone has joined as a company Director.
Market perspective: While the ABTC team has been hard at work operationalizing our innovative multi-pronged battery material recycling platform, the battery metals industry continues to grow significantly. Demand for lithium-ion batteries is predicted by industry researchers to skyrocket more than ten-fold over the next ten years. Over the same period, we anticipate limited announcements for new sources of U.S.-produced battery metals, including lithium, nickel, cobalt, and manganese. We expect increased pressure on prices of domestically sourced battery metals and an increased reliance on foreign sourced battery metals.
Pilot facility: This past year, ABTC purchased 12.44 acres in Fernley, Nevada to build a first of kind “green” battery recycling facility. The permitting process to open our state-of-the-art building is underway. Our Fernley facility will be designed to manage 20,000 metric tons of scrap materials and end-of-life batteries per year, representing approximately $160 million of annualized revenue and over 80% EBITDA at current commodity prices annually. To put this in context, currently only 90,000 metric tons of battery materials are recycled globally.
These exciting industry trends support and validate our business model to increase the production of domestic U.S. sourced battery metals. We look forward to continuing to grow our business as an industry leader in the closed loop production of the materials that fuel the new energy revolution.
American Battery Technology Company is uniquely positioned to supply battery metals through its three divisions: lithium-ion battery recycling, extraction technology, and primary resources. The Company recently announced the groundbreaking of its lithium-ion battery recycling facility in Fernley, NV, and issued a recent shareholder letter outlining achievements of the past year.
American Battery Technology Company has built a clean technology platform that increases production of primary metals used in the batteries that power electric cars, grid storage applications, consumer electronics and tools. The green platform creates a circular economy for battery metals that champions ethical and environmentally sustainable sourcing of critical materials.
For more information, please visit: www.americanbatterytechnology.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.
View source version on accesswire.com:
News Provided by ACCESSWIRE via QuoteMedia