American Battery Technology Company said it has won a competitively bid $2 million contract from the US Advanced Battery Consortium LLC (USABC), in collaboration with the US Department of Energy (DOE).
The company, previously called American Battery Metals Corporation (OTCQB:ABML), said the contract is for the commercial demonstration of its integrated lithium-ion battery recycling system and production of battery cathode grade metal products.
It also includes the synthesis of high energy density active cathode material from these recycled battery metals by cathode producer and lithium-ion battery recycler BASF, and then the fabrication of large format automotive battery cells from these recycled materials and the testing of these cells against otherwise identical cells made from virgin sourced metals by cell technology developer C4V.
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The company said the contract award, which includes a 75% cost share, funds a 30-month project that began in October 2021. This is its first contract with USABC, a subsidiary of the US Council for Automotive Research LLC (USCAR), it added.
The program's focus is to demonstrate that battery grade metals can be manufactured from recycled materials at lower cost, with lower environmental impact, and with higher domestic US-sourced content than conventional virgin sourced metals.
Commercially prevalent processes will then be used to synthesize high energy density active cathode material from these recycled metals, and then large format automotive battery cells will be manufactured from these recycled materials and tested to validate that these cells achieve the same performance metrics as otherwise identical cells manufactured from conventional virgin sourced metals.
"While the domestic manufacturing capacities of electric vehicles and of lithium-ion battery cells have grown rapidly in the US in recent years, unfortunately, the domestic production capacities of the battery metals that supply these operations have not kept pace," CEO and principal investigator of the project Ryan Melsert said in a statement.
"The establishment of a commercial scale domestic US battery recycling industry can address these challenges and produce each of the battery metals required to supply new manufacturing operations.
“We are excited that through this demonstration ABTC will work together with such highly respected industry leaders to demonstrate a low-cost, low-environmental impact, integrated lithium-ion battery manufacturing supply chain to enable a true closed-loop domestic circular economy.”
Reno, Nevada-based American Battery Technology Company is a lithium-ion battery recycling technology and advanced battery metal extraction company with mineral resources in Nevada.
Contact the author at stephen.gunnion@proactiveinvestors.com