American Battery Tech Stock (NASDAQ: ABAT)

American Battery Tech (NASDAQ:ABAT) Stock, Quote.Headers.trade-ideas

American Battery Tech

American Battery Technology Co is engaged in lithium-ion battery recycling, battery metals and material extraction, and resource production. It is a battery metals company producing low-cost battery metals with a commitment to closed-loop, clean energy technologies.

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Why Rumble Shares Are Trading Higher By Around 43%; Here Are 20 Stocks Moving Premarket

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American Battery Technology Company&#39;s shares surged 24% after securing a $144 million grant to build a second lithium-ion battery recycling facility.

ABAT Shares Surge After US DOE Gives $144 Million Grant For Battery Recycling Facility

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American Battery Technology&#39;s Ryan Melsert spoke to Benzinga about lithium production and what it means to be a vital metals supplier.

EXCLUSIVE: Federal Support Is &#39;Essential&#39; For Lithium Production, Says American Battery Technology CEO (CORRECTED)

American Battery Technology Company - Common Stock

American Battery Technology Co

ABATTIS BIOCEUTICALS ORD by Abattis Bioceuticals Corp.

Abattis Bioceuticals Corp

After Maintaining $1.00+ Closing Bid Price For Over 10 Consecutive Days

American Battery Technology Regains Nasdaq Compliance

Shares of Rumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) rose sharply in today's pre-market trading after the company announced it has entered into a definitive agreement for a strategic <a href="https://www.benzinga.com/24/12/42634166/rumble-stock-soars-on-775-million-investment-from-tether-what-to-know">investment of $775 million from Tether</a>.
Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) has agreed to purchase 103.33 million shares of Rumble Class A Common Stock at a price per share of $7.50, totaling $775 million in gross proceeds to Rumble.
Rumble shares jumped 43.3% to $10.31 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Reliance Global Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RELI#NASDAQ">RELI</a>) gained 234% to $4.01 in pre-market trading.</li>
<li>Phio Pharmaceuticals Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHIO#NASDAQ">PHIO</a>) gained 88.6% to $3.32 in pre-market trading. Phio Pharmaceuticals, last week, announced a $1.15 million registered direct offering priced at-the-market under Nasdaq rules.</li>
<li>Edible Garden AG Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDBL#NASDAQ">EDBL</a>) climbed 82.3% to $0.4334 in pre-market trading after surging 63% on Friday. Edible Garden recently announced it experienced a 51% year-over-year increase in its preliminary Thanksgiving period sales.</li>
<li>JIADE Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JDZG#NASDAQ">JDZG</a>) gained 60.9% to $0.8530 in pre-market trading. JIADE received Nasdaq notification letter regarding minimum bid price deficiency.</li>
<li>American Battery Technology Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) rose 44.1% to $1.60 in pre-market trading. On Friday, American Battery Technology priced its $5 million registered direct offering of 5 million shares at $1.00 per share.</li>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) gained 30.9% to $3.60 in pre-market trading after jumping more than 36% on Friday.</li>
<li>Brenmiller Energy Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNRG#NASDAQ">BNRG</a>) rose 28.8% to $0.9700 in pre-market trading after the company was awarded ISO/IEC 27001:2022 certification.</li>
<li>Honda Motor Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) gained 18% to $28.19 in pre-market trading. Honda Motor and Nissan Motor Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>) have started talks for a potential merger.</li>
<li>Kodiak Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOD#NASDAQ">KOD</a>) rose 14.9% to $9.94 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Conduit Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDT#NASDAQ">CDT</a>) shares tumbled 28.9% to $0.0531 in pre-market trading after jumping 14% on Friday. Conduit Pharmaceuticals recently announced it entered an agreement with Sarborg to leverage AI and its cybernetics platform to evaluate key deliverables across multiple areas of operations.</li>
<li>Helius Medical Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSDT#NASDAQ">HSDT</a>) declined 25.7% to $0.6759 in pre-market trading after jumping around 101% on Friday.</li>
<li>Onfolio Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONFO#NASDAQ">ONFO</a>) fell 24.4% to $1.21 in pre-market trading. Onfolio Holdings announced a quarterly preferred stock cash dividend of 75 cents per share.</li>
<li>iLearningEngines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AILE#NASDAQ">AILE</a>) shares fell 24.3% to $0.6703 in pre-market trading after declining 9% on Friday.</li>
<li>ConnectM Technology Solutions Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTM#NASDAQ">CNTM</a>) shares dipped 20% to $0.83 in pre-market trading after falling 8% on Friday. ConnectM Technology Solutions, last week, announced a year-over-year increase in third-quarter revenue results.</li>
<li>TPI Composites, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPIC#NASDAQ">TPIC</a>) fell 19.2% to $1.94 in today's pre-market trading after jumping 97% on Friday.</li>
<li>Aptose Biosciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APTO#NASDAQ">APTO</a>) dipped 17.8% to $0.2293 in pre-market trading after jumping 64% on Friday. Aptose Biosciences, last week, announced it was granted an extension to provide compliance evidence for a continued Nasdaq listing.</li>
<li>Core Laboratories Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) fell 11% to $15.00 in pre-market trading.</li>
<li>Astria Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATXS#NASDAQ">ATXS</a>) shares fell 10.8% to $8.53 in pre-market trading.</li>
<li>SIGA Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIGA#NASDAQ">SIGA</a>) fell 8.5% to $5.41 in pre-market trading.</li>
</ul>
Now Read This: &lt;a href=&#8221;https://www.benzinga.com/news/earnings/24/04/38307448/investor-sentiment-decreases-further-s-p-500-falls-for-fourth-straight-session&#8221;&gt;&lt;em&gt; Investor Sentiment Decreases Further, S&amp;P 500 Falls For Fourth Straight Session&lt;/em&gt;&lt;/a&gt;

Offerings

American Battery Technology Prices $5M Registered Direct Offering Of 5M Shares At $1.00/Share

American Battery Technology Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) shares surged on Monday after the company secured a $144 million grant from the <a href="https://www.benzinga.com/topic/energy">U.S. Department of Energy (DOE)</a>. 
The funds will go toward constructing a commercial-scale lithium-ion battery recycling facility.
This new facility, developed in collaboration with Argonne National Laboratory, is ABAT&#8217;s second. It will process approximately 100,000 tonnes of battery materials annually, including end-of-life and manufacturing scrap materials.
The project is expected to generate 1,200 construction jobs and 300 operational roles. The contracted grant award is set to begin on Jan. 1, 2025.
The output will include battery-grade nickel, cobalt, manganese, and lithium hydroxide for the North American market.
This second lithium-ion battery recycling facility is designed to scale its first facility by five times, employing internally developed processes for the strategic de-manufacturing and chemical extraction of battery-grade products.
ABAT has a strategic agreement with BASF, a leading cathode manufacturer, for the purchase of these battery-grade metals.
The company&#8217;s R&amp;D, project management, and engineering teams, many of whom were part of Tesla&#8217;s Gigafactory design and engineering teams, have played a key role in scaling the commercialization of this facility.
In line with its strategy to build a commercial battery metals supply chain for North America, ABTC&#8217;s new facility will involve multiple partners, including BASF, Siemens, Clemson University, Argonne National Laboratory, and the South Carolina Electric Transportation Network.
American Battery Technology Company CEO Ryan Melsert said the grant contract from the U.S. DOE &#8220;will directly support the additional capacity required to process the quantity of materials demanded from the domestic automotive and battery industry,&#8221;  
This week, American Battery Technology entered the U.S. DOE&#8217;s Battery Workforce Challenge and introduced a new &#8220;Design for Recyclability&#8221; category for this three-year collegiate <a href="https://www.benzinga.com/pressreleases/24/12/g42512635/american-battery-technology-company-joins-u-s-department-of-energy-and-industry-partners-to-develo" target="_blank" rel="noreferrer noopener">and vocational engineering competition</a>.
Price Action: ABAT shares are up 24% at $1.069 at the last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/commodities/24/08/40401135/exclusive-federal-support-is-essential-for-lithium-production-says-american-battery-technolog" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Federal Support Is &#8216;Essential&#8217; For Lithium Production, Says American Battery Technology CEO</a></li>
</ul>
Image: Shutterstock

WIIM

American Battery Technology shares are trading higher after the company announced it received a contracted grant award for $144 million of federal investment by the U.S. Department of Energy to support the construction of a new lithium-ion battery recycling facility.

Highly competitive grant award facilitates significant expansion of company's internally-developed commercial lithium-ion battery recycling operations, with an additional 100,000 tonnes/year of battery materials
<ul>
<li>Highly competitive grant award facilitates significant expansion of company's internally-developed commercial lithium-ion battery recycling operations, with an additional 100,000 tonnes/year of battery materials processing capacity &nbsp;</li>
<li>Second facility has a design capacity five times the throughput of the company's first lithium-ion battery recycling plant, based on scale of domestic end-of-life materials market</li>
</ul>

American Battery Technology Wins $144M Grant Contract From U.S. Department Of Energy For Construction Of Second Lithium-Ion Battery Recycling Facility

&nbsp;
Public and private industry partners from each sector of the electric vehicle (EV) circular supply-chain chosen to establish real world environment to train and develop next generation battery and EV workforce.
&nbsp;
<ul>
<li>American Battery Technology Company (ABTC), representing battery recycling sector, to support the development of a new U.S. energy manufacturing workforce alongside public and private partners such as the U.S. Department of Energy, Argonne National Laboratory, Stellantis, Samsung SDI America, and the Volta Foundation.
	&nbsp;</li>
<li>Top industry talent at ABTC supports future battery workforce to design battery packs for a Stellantis vehicle with more environmentally and economically sustainable materials and practices to build future talent capacity for the North American battery supply chain.</li>
</ul>
<a href="https://www.globenewswire.com/Tracker?data=WDq460AW8tpsTWOaHxt4DcGaDrDHFp24fclR62CJeFQ2_wpbcMtzELxMs6uZeVEfJTnTYR8qsQe5n_wvNDbb2aNJ6FNxopsHA_37c0s0ba2MIaoKlTGyn9p2SHKAqcN_IFAyngb0cl9hRXFoc_-ibw==">American Battery Technology Company </a>(ABTC) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>), an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, is pleased to announce its entrance into the U.S. Department of Energy&#39;s <a href="https://www.globenewswire.com/Tracker?data=32WuxLTh7-Elx5VJ-5gpA7lrs649wOw9v0K21_msefLYMJj1JZQsVnu5j2gyw1nPjQe9FPvPTI49GUqcMd0iMqS3JEaqZJmPC4m71DClBgeUFOWCfyRdDX82eRvSP8KZ61cxSaovrrtYDBHuXcbixA==">Battery Workforce Challenge</a>, and the launch of an ABTC developed new &lsquo;Design for Recyclability&#39; category for this three-year collegiate and vocational engineering competition.&nbsp;
&nbsp;
This competition supports twelve North American teams of universities and their regional vocational partners that are each designing, building, testing, and integrating a next-generation advanced lithium-ion battery pack and electric powertrain into a Stellantis donated 2024 Ram ProMaster EV. ABTC&#39;s entrance into this competition brings an additional dimension of performance in the evaluation of these designs, as students are now challenged to design battery packs with a design for recyclability (DFR) mindset that allows for these complex batteries to be strategically disassembled and recycled at the end of their lives. These high-value constitute components within the batteries are then able to be recovered and resold into the domestic North American supply chain to create a closed-loop circular infrastructure, increasing the residual value of the battery pack and lowering overall lifecycle costs of EVs.&nbsp; 
&nbsp;

American Battery Technology Co. Announces Its Entrance Into A 3-Year Collegiate And Vocational Engineering Competition Under The U.S. DOE's Battery Workforce Challenge And The Launch Of An ABTC Developed New 'Design For Recyclability'

American Battery Technology shares are trading lower. The company reported Q1 financial results.

American Battery Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) reported quarterly losses of $(0.17) per share. This is a 10.53 percent increase over losses of $(0.19) per share from the same period last year. The company reported $201.96 thousand in sales this quarter.

American Battery Tech Q1 EPS $(0.17) Up From $(0.19) YoY, Sales $201.96K

American Battery Technology FY24 Grant Funding Increased To $3.3M Up From $0.9M YoY

American Battery Technology shares are trading lower after the company announced it was selected for a $150 million competitive grant.

<a href="https://americanbatterytechnology.com/">&nbsp;American Battery Technology Company</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>), an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, has been <a href="https://www.energy.gov/mesc/bipartisan-infrastructure-law-battery-materials-processing-and-battery-manufacturing-recycling">selected for a highly competitive grant for $150 million</a> dollars of federal investment&nbsp;by the U.S. Department of Energy to be applied towards the construction of a new lithium-ion battery recycling facility.
&nbsp;
This facility will be the company's second commercial-scale lithium-ion battery recycling facility and is designed to process approximately 100,000 tonnes of battery materials per year from its battery manufacturer, automotive OEM, and community partners.
"We are extremely honored to be selected for this government investment to further expand our domestic battery recycling operations, and after having gone through nearly one-year of technical and economic evaluation, we appreciate the level of diligence that the government employed in making this decision," stated ABTC CEO Ryan Melsert. "We are greatly appreciative of the confidence and support we have received from our partners throughout this process and are energized to move forward with our feedstock supply, product offtake, and strategic stakeholders in this critical expansion of our domestic capabilities."
True to the company's strategic model to engage a diverse portfolio of partners and stakeholders to bring advanced battery technologies online and establish a commercial battery metals supply chain for North America, this project will leverage multiple partners including feedstock supplier and critical mineral product offtaker BASF, global engineering firm Siemens, the Clemson University International Center for Automotive Research (CU-ICAR), the Argonne National Laboratory (ANL) ReCell Center, the Argonne National Laboratory Sustainable Transportation Education &amp; Partnerships (STEP) department, and the South Carolina Electric Transportation Network (SCETNetwork). &nbsp;
ABTC constructed and commissioned its first lithium-ion battery recycling facility near Reno, Nevada in Fall 2023, which implements its internally-developed processes for the strategic de-manufacturing and targeted chemical extraction of battery materials in order to manufacture battery grade products at competitive costs and with low environmental footprint.&nbsp; These processes are fundamentally different than conventional methods of battery recycling, which generally utilize either high temperature smelting or non-strategic shredding systems.
Through this new facility construction project, ABTC will employ a proactive, community-driven engagement model to build an energy equity, sustainable circular manufacturing ecosystem that aims to create 1,200 construction jobs and 300 operations jobs. The company will work in direct partnership between communities, educational institutions, industry, government, the National Laboratory system, and the next generation workforce to support equitable and sustainable initiatives that benefit and strengthen in local communities, including in underserved communities that have historically been left behind.
ABTC is partnering with government entities and local educational institutions, such as ANL's STEP department and Clemson University, to create career pathways in battery recycling and establish a talent pipeline for the domestic battery recycling industry.
Bringing first-of-kind technologies to market,&nbsp;ABTC's battery recycling and primary battery metals commercialization efforts support the buildout of a domestically-sourced battery metals circular supply chain.&nbsp; ABTC has been selected for several competitive awards supporting the advancement and commercialization of its first-of-kind technologies for both battery recycling and primary claystone-to-lithium hydroxide manufacturing.&nbsp; &nbsp; U.S. DOE Investments in ABTC Lithium-Ion Battery Recycling&nbsp;
<ul>
<li>October 2021: ABTC was awarded a competitive grant for a <a href="https://americanbatterytechnology.com/projects/usabc-project/">$2 million project</a> from the United States Advanced Battery Consortium (USABC) supported by funding from US DOE to foster the recycling of battery packs and extraction of battery metals, with USABC cost contributions of $500k.</li>
<li>November 2022: <a href="https://americanbatterytechnology.com/press-release/american-battery-technology-company-receives-contract-from-us-doe-for-20m-project-to-accelerate-commercialization-of-next-generation-advanced-battery-recycling-technologies/">ABTC was awarded for a competitive grant for a $20 million project from the U.S. DOE to scale</a>, optimize, and commercialize three next generation technologies to even further enhance the performance of its recycling operations, with a federal contribution of $10 million.</li>
<li>March 2024:<a href="https://americanbatterytechnology.com/press-release/american-battery-technology-company-awarded-20-million-tax-credit-through-competitive-us-doe-process-to-advance-its-critical-minerals-battery-recycling-facility/"> ABTC awarded qualifying advanced energy project tax credits (48C) for $20 million</a> to be applied towards capital expenditures of its first battery recycling facility near Reno, Nevada.</li>
<li>March 2024: <a href="https://americanbatterytechnology.com/press-release/american-battery-technology-company-awarded-additional-40-million-competitive-tax-credit-to-accelerate-construction-of-next-battery-recycling-facility/">ABTC awarded qualifying advanced energy project tax credits (48C) for $40 million</a> to be applied towards capital expenditures of its second battery recycling facility.</li>
<li>TBD 2025: <a href="https://americanbatterytechnology.com/press-release/american-battery-technology-company-receives-contract-from-us-doe-for-20m-project-to-accelerate-commercialization-of-next-generation-advanced-battery-recycling-technologies/">ABTC was selected for this competitive grant for a $150 million project from the U.S. DOE to construct a second battery recycling facility</a>.</li>
</ul>
U.S. DOE Investments in ABTC Lithium Hydroxide (LiOH) from Claystone Manufacturing&nbsp;
<ul>
<li>October 2021: <a href="https://www.energy.gov/eere/ammto/advanced-manufacturing-office-fy20-critical-materials-foa-selections">ABTC was awarded a competitive grant supporting a $4.5 million project</a> from the U.S. DOE for the demonstration of its battery-grade lithium hydroxide production from Nevada claystone resources, with federal contributions of $2.27 million.</li>
<li>October 2022: <a href="https://americanbatterytechnology.com/press-release/american-battery-technology-company-receives-contract-for-57m-grant-from-us-doe-for-construction-of-commercial-scale-lithium-hydroxide-refinery/">ABTC was awarded a competitive grant supporting a $115 million project</a> from the U.S. DOE to construct a commercial-scale lithium hydroxide refinery, with a federal contribution of $57.7 million.</li>
</ul>
These battery recycling technologies were developed in-house by the ABTC R&amp;D, project management, and engineering team members, many of whom were previously members of the founding Tesla Gigafactory design and engineering teams. &nbsp;ABTC intends to utilize these significant experiences in collaboration with project partners to scale processes and bring first-of-kind commercial-scale facilities online and leveraging this expertise to de-risk ABTC's commercialization of this second battery recycling facility.
As ABTC has now completed the technical and economic evaluations and been selected for this competitive grant award, it will next enter the grant award contracting phase of this process with an expected project kickoff in 2025.

Government

Regulations

American Battery Technology Secures $150M US DOE Grant, Expanding Battery Recycling Facility

American Battery Technology Company Plans To Build Commercial-Scale Lithium-Ion Battery Recycling Facility, Processing 100,000 Tonnes Per Year In Partnership With BASF, Siemens, And Others To Support U.S. Closed-Loop Supply Chain

He will succeed Andr&eacute;s Meza who served as COO for over three years and is stepping down to pursue other opportunities.

Management

American Battery Technology Appoints Steven Wu As Its New COO

American Battery Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) CEO Ryan Melsert spoke to Benzinga about the latest company milestones, the state of the market and what it means to be a vital metals supplier for the burgeoning <a href="https://www.benzinga.com/topic/clean-energy">green energy sector</a>. 
<h2 class="wp-block-heading">BZ: What&#8217;s your relationship like with the retail investment community?</h2>
Melsert: We&#8217;re definitely in the spotlight with retail investors. We also work with several different strategic partners, including big corporations that sell us products or feed and buy our products. It's important to have a balance between both. We&#8217;ve experienced significant growth over the past few years. The validation we&#8217;ve received from winning several corporate awards and securing various government projects has provided the community with technical validation of what we're doing and our business plan as we scale up.
<h2 class="wp-block-heading">BZ: How does the company operate in three pillars: battery recycling, metal manufacturing, and resource development?</h2>
Melsert: On the battery recycling side, we completed the design about two years ago, and we built our first commercial factory last year, which is now up and running. We&#8217;re receiving large amounts of end-of-life waste from the field and are actually producing significant quantities of recycled battery-grade product that we're selling back into the market. The recycling plant is fully operational, and we're working to establish a closed-loop system within the U.S.
Last summer, we signed a partnership agreement with BASF (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BASFY#OTC">BASFY</a>), one of North America&#8217;s largest battery metals customers. Working with them to receive material and sell our recycled products has been great. Recycling is crucial for closing the loop and ensuring that once materials are in the field, they stay there. However, because the number of batteries is growing so quickly, we also need to fill that loop for the first time, which is why we have our other business units.
For lithium specifically, there is almost zero production in the U.S. We have many resources, but very few refineries can access them, especially those considered unconventional. A few years ago, we analyzed various types of lithium resources within the U.S. and identified a sedimentary resource, or claystone, that holds large amounts of lithium. However, no one has yet developed a technology to access the lithium in that claystone. We worked at the laboratory and bench scales and developed our own mechanisms to access this lithium. We secured a Department of Energy grant to use that data to build a fully integrated pilot plant to process hundreds of tons of material and produce battery-grade product. Then, just last year, we won another grant with a federal cost share of $57 million to build a commercial refinery project.
Developing the claystone itself is one skill set—how we develop that mine and excavate that surface resource. But we've also developed our own refining technology, so we&#8217;re constructing a refinery right on top of it. We finished the pilot plant just a few months ago. In June, we announced that we are producing battery-grade product from this pilot facility.
<h2 class="wp-block-heading">BZ: We've seen automotive companies engage with commodity producers to secure supplies. Are you open to different kinds of partnerships, perhaps more downstream, directly with vehicle manufacturers?</h2>
Melsert: Every week, we have a customer or strategic partner, often a big automotive OEM, on-site touring the facility. There are so few operations in the U.S. that can produce this battery-grade lithium product. So, there's a lot of interest in sourcing the output from this commercial refinery. It's very likely that we'll enter into a partnership with an OEM regarding the off-take of our primary lithium going forward.
<h2 class="wp-block-heading">BZ: There is only one active lithium mine in the U.S.; Data shows it takes about <a href="https://www.benzinga.com/news/24/07/39870803/us-mine-development-delays-among-worlds-longest-second-only-to-zambia">29 years to develop a mine</a>. Was this one of the catalysts for you to focus on recycling?</h2>
Melsert: That was indeed a catalyst for us to focus on both. Recycling can be very quick to market. We produce nine different products from our recycling plant, which makes us more diversified than a typical mining operation. However, in terms of scale, our primary lithium claystone process will produce much more than the entire U.S. recycling industry combined. While recycling is great for time to market, when you want to scale, these primary systems will deliver that in the near term.
<h2 class="wp-block-heading">BZ: Is there a danger if battery manufacturing and recycling don't eventually balance out? Could we end up with piles of old batteries lying around?</h2>
Melsert: Definitely. For a closed-loop economy, all sections of the loop need to be balanced and have a similar throughput. In the past few years, we've added dramatic amounts of capacity for battery manufacturing but very little for battery recycling. This imbalance could result in batteries being exported abroad to be recycled elsewhere, which wouldn't help our strategic mineral situation. Or, they might not be recycled at all and end up in landfills in the U.S. That's why we work so closely with partners in the battery manufacturing and automotive manufacturing sectors to ensure our throughput aligns with their facilities.
<h2 class="wp-block-heading">BZ: Major oil producers like Exxon are venturing into <a href="https://www.benzinga.com/news/large-cap/24/02/37182798/exxons-lithium-experiment-could-be-winner-for-oil-company-state-of-arkansas">lithium production</a> and experimenting with direct lithium extraction. What do you think about these initiatives?</h2>
Melsert: In the past year or so, many big oil companies have gotten involved in this space. I think it's great to see large corporations investing and recognizing the need to bring domestic resources to market. They bring different skill sets, particularly in chemical processing, and have mostly focused on brine-based resources due to the overlap with conventional oil extraction.
<h2 class="wp-block-heading">BZ: You've previously met with President Joe Biden and spoken about issues in the sector. Are you currently engaged with the government?</h2>
Melsert: Yes, we have several grants underway with the Department of Energy, and we're always in contact with them about future opportunities as well. Ramping up critical material production is one of the few issues both political parties agree on. There's a real need to bring this capacity to U.S. shores, and we've received quite a bit of support from the federal government. I believe there are still a lot of programs moving forward.
<h2 class="wp-block-heading">BZ: Lithium prices are now around $10,000 per metric ton, which is about where they were in 2019. Where do you see the market going from here?</h2>
Melsert: Everyone is trying to predict the future regarding market prices. The important thing is that there's still a large demand for electric vehicles and stationary grid storage batteries in the U.S. As long as those end-use demand sectors keep growing, they'll continue to pull on the upstream systems to ramp up capacity. It can be very quick, less than two years, to put up an electric vehicle factory or battery factory, but it takes many years to bring a primary resource online. So, as demand picks up, the limiting factor will be how quickly these primary resources can come online.
<h2 class="wp-block-heading">BZ: BCA Research Chief Strategist Marko Papic told Benzinga that we're entering a capex-driven commodity super cycle. Where do you see opportunities for the fastest domestic commodity development outside of your own project?</h2>
Melsert: The biggest factor in speeding up product development is permit reform at the federal level. Just a few weeks ago, the Senate put forward a bill that would streamline permitting operations specifically for these types of critical materials. Having a more efficient system could help these projects in the U.S. come online much more quickly, and it would open up the business case for more resources to be developed domestically.
<h2 class="wp-block-heading">BZ: What's next for your company?</h2>
Melsert: The most important thing to watch for in this industry is who forms partnerships and alliances with other sectors, such as battery manufacturers and vehicle OEMs. I'd recommend keeping an eye on which companies are building the best relationships with those other strategic players in the sector as we move forward. I'm confident in our projects and have recently boosted my stake by an additional 390,000 shares.
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<li><a href="https://www.benzinga.com/etfs/specialty-etfs/24/08/40351865/how-to-profit-from-a-move-higher-in-gold-without-owning-any">How To Profit From A Move Higher In Gold Without Owning Any</a></li>
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 Editor&#8217;s Note: This interview has been edited to reflect the correct cost of a commercial refinery project.

EXCLUSIVE: Federal Support Is 'Essential' For Lithium Production, Says American Battery Technology CEO (CORRECTED)

American Battery Technology Enters Direct Binding Agreement For Purchase Of Its Accumulated Recycled Black Mass Material By A Domestic Strategic Customer

WASHINGTON — Amid the global search for lithium for electric vehicle batteries, <a href="https://www.benzinga.com/markets/commodities/24/03/37857275/exclusive-battery-companies-back-small-miners-for-long-term-provide-bright-spot-as-funding-ma">major automakers are</a> eyeing production from American Battery Technology Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>), CEO Ryan Melsert said this month at a mining conference.
The company is developing one of the largest lithium deposits in the United States at its Tonopah Flats mining and refining project in Nevada to provide lithium in addition to the company's battery recycling business.
American Battery Technology is funding its operations with revenue from recycling and U.S. Department of Energy grants but plans to augment that in the medium term with project financing and lithium offtake agreements with strategic partners.
Also Read:<a href="https://www.benzinga.com/government/24/06/39204696/us-lithium-industry-gets-a-win-as-piedmont-saga-advances-but-permitting-remains-a-headwind"> US Lithium Industry Gets A Win As Piedmont Saga Advances, But Permitting Remains A Headwind</a>
"We have the automakers on site almost every week," Melsert told Benzinga on the sidelines of a recent&nbsp;Benchmark Mineral Intelligence&nbsp;battery metals conference in Washington.
He declined to name the companies but said "it's all the automakers and manufacturers you would think of."
American Battery Technology already has a partnership with German multinational chemical company BASF (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BASFY#OTC">BASFY</a>), one of the largest battery cathode manufacturers in North America. Both companies have received a $2 million grant from the U.S. Advanced Battery Consortium, a subsidiary of the U.S. Council for Automotive Research, which is a collaborative automotive technology company for Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>).
EV Demand Increasing With No Short-Term Lithium Alternatives
Automaker interest in lithium from American Battery Technology comes as electric vehicle manufacturers around the world scramble to source lithium for batteries.&nbsp;
If nations were to fully meet all their current national energy and climate goals, the International Energy Agency said in a recent report that it expects global lithium demand to rise from 165 thousand metric tons in 2023 to 1.6 million metric tons by 2050. The electric vehicle industry is projected to account for about 90% of this demand growth.
Meanwhile, the agency says that new mine projects beyond those already in production or announced will have to be developed to meet lithium requirements after 2030, when demand will outstrip currently projected production.
In their quest to secure sources of lithium, Ford, GM, Mercedes Benz Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGYY#OTC">MBGYY</a>), Mitsubishi Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSBHF#OTC">MSBHF</a>) and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), have inked deals to buy directly from mining or refining companies or made direct investments elsewhere in the lithium battery supply chain.
Tesla CEO Elon Musk once said on social media that "lithium batteries are the new oil."
Melsert is no stranger to Tesla. He worked there from 2015 to 2019 as a founding member of the Gigafactory design team and battery materials processing research and development manager.
As a person familiar with battery technology, Melsert doesn't think lithium-based battery storage will go away anytime soon, despite research into alternatives.
The International Energy Agency agrees. "Lithium-ion batteries' role in fueling the growth of the EV industry remains unchallenged in the near term," the IEA said in its recent report. 
"Alternative technologies such as sodium-ion batteries and vanadium flow batteries begin to take some shares from lithium-ion batteries in low-range vehicles and storage markets, but they do not materially alter the prospects for lithium demand in climate-driven scenarios," the agency said.
Company May Face Less Environmental Angst Than Competitors
As global demand for lithium grows, western governments are trying to diversify supply chains for minerals critical to the energy transition. China dominates lithium refining and the electric vehicle battery market.
As the domestic lithium mining industry ramps up, tensions with conservationists and locals, including indigenous people, have increased in the American West, South America and Europe. In Nevada, Lithium Americas Corp.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>) Thacker Pass and Ioneer Ltd.'s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GSCCF#OTC">GSCCF</a>) Rhyolite Ridge projects have faced opposition.
It appears that American Battery Technology's Tonopah Flats project may face fewer headwinds, at least in terms of conservationist concerns.
"When we look at places like Thacker Pass and Rhyolite Ridge, we see high levels of biodiversity," said Patrick Donnelly, a Nevada-based director with the Center for Biological Diversity. "Endemic species, greater sage-grouse and sensitive groundwater-dependent ecosystems are found at both sites. This is part of why they&#8217;ve engendered such pushback."
Tonopah Flats doesn't have those issues, or issues with surface water sources, Donnelly told Benzinga.
"Strictly from a biological point of view, there are fewer potential impacts to biodiversity from development in that area," he said.
Read Next:
<a href="https://www.benzinga.com/markets/commodities/24/05/39007586/lithium-market-may-have-turned-a-corner-but-dont-expect-2022-style-rally">Lithium Market May Have Turned A Corner, But Don&#8217;t Expect 2022-Style Rally</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:_licensing@benzinga.com" target="_blank" rel="noreferrer noopener">_licensing@benzinga.com</a> to get started!
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MERCEDES-BENZ UNSP / ADR by Mercedes Benz Group AG

MBGYY

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TSLA

EXCLUSIVE: Major Automakers Target Lithium Supply From American Battery Technology Co.

American Battery Technology Manufactures Demonstration-Scale Quantities Of Lithium Hydroxide From Claystone Facility

As the electrification revolution accelerates, lithium — a critical raw material for batteries — stands at the forefront of the energy transition. North American lithium miners Piedmont Lithium Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>), Lithium Americas Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>), and American Battery Technology Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) are strategically positioned to benefit from this <a href="https://www.benzinga.com/topic/lithium">surge in demand</a>.
We look into recent insights from J.P. Morgan&#8217;s fireside chats with these companies to gauge their future prospects. Subsequently, we compare these stocks to determine which one offers greater upside potential.
Here&#8217;s a quick peek into the three companies&#8217; key metrics before we dive in:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Market Capitalization</td>
<td>2023 Revenue (Annual)</td>
</tr>
<tr>
<td>Piedmont Lithium Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>)</td>
<td>$296.158M</td>
<td>$39.82M</td>
</tr>
<tr>
<td>Lithium Americas Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>)</td>
<td>$983.780M</td>
<td>Pre-Revenue</td>
</tr>
<tr>
<td>American Battery Technology Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>)</td>
<td>$74.329M</td>
<td>Pre-Revenue</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">Piedmont Lithium &#8211; Bullish On Long-Term Demand</h3>
Piedmont Lithium remains bullish about the long-term demand for lithium, despite current market fluctuations. 
CEO Keith Phillips is optimistic about North American Lithium&#8217;s (NAL) productivity trends, expecting improved efficiency and cost savings as shipments shift to North America. He sees Carolina Lithium as a key asset for the company, highlighting its ore body and low costs, and is seeking non-dilutive funding, including a DOE loan and partnerships. 
Despite potential delays, Phillips remains optimistic about the timeline for the Ewoyaa Project in Ghana, aiming for full capacity by 2027.
Piedmont Lithium stock closed the trading day Thursday at $15.28, up 3.87%. The stock has a Buy <a href="https://www.benzinga.com/quote/PLL/analyst-ratings">consensus analyst rating</a>. Recent analyst ratings on the stock have an average price target of $29.33 between BMO Capital, DA Davidson, and BTIG. That&#8217;s an implied 91.85% upside for Lithium Americas stock.
Also Read: <a href="https://www.benzinga.com/markets/commodities/24/05/38749377/piedmont-lithiums-record-quarter-for-production-coal-prices-weigh-on-rameco-royal-gold-boosts">Piedmont Lithium&#8217;s Record Quarter For Production; Coal Prices Weigh On Rameco; Royal Gold Boosts Liquidity And More: Thursday&#8217;s Top Mining Stories</a>
<h3 class="wp-block-heading">Lithium Americas &#8211; Advancing Thacker Pass</h3>
Lithium Americas is making significant strides in its Thacker Pass project in Nevada.
CEO Jon Evans and CFO Pablo Mercado are bullish about Lithium Americas&#8217; (LAC) funding prospects, expressing confidence in closing the DOE loan on time. With $147 million in cash reserves and significant progress in engineering work, LAC is on track to meet its financial and operational targets. 
They also highlight the company&#8217;s commitment to de-risking the chemical processing steps at Thacker Pass and optimizing efficiency. Cost management, particularly in reagent usage and procurement planning, is a key focus to enhance economic viability, crucial for long-term success.
Lithium Americas stock closed the trading day Thursday at $4.43, up 0.91%. Recent analyst ratings on the stock have an average price target of $6.53 between HSBC, Evercore ISI Group, and JP Morgan. That&#8217;s an implied 46.16% upside for Lithium Americas stock.
<h3 class="wp-block-heading">American Battery Technology &#8211; Leveraging Battery Recycling</h3>
American Battery Technology is uniquely positioned with its battery recycling business, which not only generates revenue but also funds future lithium resource development. This innovative approach provides a stable financial base while expanding its footprint in the lithium market.
American Battery stock is rated Outperform by analysts with a <a href="https://www.benzinga.com/quote/ABAT/analyst-ratings">consensus price target</a> of $6 a share. The stock closed the trading day Thursday at $1.33 a share, up 1.53%. This indicates an implied 344.44% upside.
Also Read: <a href="https://www.benzinga.com/markets/commodities/24/05/38884419/abat-ramps-up-nevada-facility-us-gold-receives-ck-gold-permit-tredegar-terphane-sale-under-re">ABAT Ramps Up Nevada Facility; US Gold Receives CK Gold Permit; Tredegar Terphane Sale Under Review And More: Thursday&#8217;s Top Mining Stories</a>
<h3 class="wp-block-heading">Investment Takeaways</h3>
The surge in demand for lithium driven by the energy transition presents a significant opportunity for North American lithium miners such as Piedmont Lithium, Lithium Americas, and American Battery Technology. 
Recent insights from J.P. Morgan&#8217;s fireside chats with these companies highlight their strategic positioning to capitalize on this trend. Investors looking to capitalize on the growing demand for lithium in the energy transition should carefully consider these companies&#8217; prospects and potential upside.
Read Next: <a href="https://www.benzinga.com/news/events/24/04/38190880/exclusive-lithium-market-faces-daunting-supply-demand-challenge-says-nevada-lithium-ceo">EXCLUSIVE &#8211; Lithium Market Faces &#8216;Daunting&#8217; Supply-Demand Challenge, Says Nevada Lithium CEO</a>
Image: Shutterstock

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Piedmont Lithium, Lithium Americas, American Battery Technology Lead The Energy Transition: Which Stock Offers More Upside?

Top Stories for May 16, 2024:
1. American Battery Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) completed construction and is ramping up production at its Nevada lithium-ion battery recycling facility, which can process 20,000 metric tons of battery feedstock per year.
<ol></ol>
In March 2024, it received $60 million in U.S. Department of Energy/IRS 48C tax credits to support its recycling facilities, and it&#8217;s negotiating the monetization of these credits.&nbsp;
The company is also working on a $10 million DOE grant for advanced battery recycling technologies and a $57.5 million DOE grant for a commercial-scale lithium hydroxide refinery.
Additionally, ABAT's updated economic assessment for its Tonopah Flats Lithium Project shows an 8% increase in average lithium grade and a 7% reduction in production costs.
2. U.S. Gold (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USAU#NASDAQ">USAU</a>) CEO George Bee announced that the Wyoming Department of Environmental Quality issued a surface gold mine permit for the CK Gold project. 
<ol start="2"></ol>
This permits the company to resume and update its prefeasibility study, aiming for completion by Q3 2024, and to advance its feasibility study.&nbsp;
The project is nearing completion of other conditions, including reclamation bond approval and final stages of pollutant discharge and air quality permits, expected by mid-year.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/large-cap/24/05/38873394/bhp-shareholders-anticipate-final-bid-for-anglo-american-as-deadline-nears">BHP Shareholders Anticipate Final Bid For Anglo American As Deadline Nears</a>
3. Tredegar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TG#NYSE">TG</a>) previously agreed to sell its flexible packaging films business, Terphane, to Oben Group on Sept. 1, 2023, pending customary closing conditions, including competition approvals in Brazil. 
<ol start="3"></ol>
The General Superintendence of Brazil&#8217;s Administrative Council for Economic Defense (SG-CADE) issued a non-binding opinion recommending rejection of the sale.&nbsp;
The case will now move to the CADE Tribunal for further review.&nbsp;
Tredegar&#8217;s CEO John Steitz remains confident in the sale&#8217;s benefits for Brazil&#8217;s flexible packaging films market and will continue to cooperate with the CADE Tribunal to address any concerns.
4. Ivanhoe Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IE#NYSE">IE</a>) announced a multi-year commitment of $150,000 to the Native American Mining and Energy Sovereignty Initiative (NAMES) at Colorado School of Mines&#8217; Payne Institute for Public Policy. 
<ol start="4"></ol>
Executive Chairman Robert Friedland and CEO Taylor Melvin expressed excitement about supporting the initiative&#8217;s mission to empower Tribal communities and create more opportunities in the mining sector.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/news/large-cap/24/05/38826363/anglo-american-expedites-plan-to-divest-de-beers-other-assets-after-rebuffing-bhp-takeover-bid">Anglo American Expedites Plan To Divest De Beers, Other Assets After Rebuffing BHP Takeover Bid</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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