ABTC receives additional $40.5M tax credit to support new facility construction

Reno, Nevada-based battery materials recycler American Battery Technology Co. (ABTC) has been selected for an additional award of $40.5 million through the Qualifying Advanced Energy Project Credit program (48C) to support the design and construction of a new, “next-generation” commercial battery recycling facility to be located in the United States.

As with ABTC’s recently announced $20 million tax credit that will support the buildout of its battery recycling facility in Storey County, Nevada, this new award was granted by the U.S. Department of Treasury Internal Revenue Service following a competitive review process performed by the U.S. Department of Energy (DOE).

RELATED: ABTC awarded $20M tax credit through DOE

ABTC CEO Ryan Melsert says the company and its partners have been engaging with nearly every major automotive original equipment manufacturer (OEM) and battery cell manufacturer in the world to present its lithium-ion battery recycling process, as well as its manufacturing of precursor materials and synthesis of refined materials such as high-recycled metal content, high-energy density cathode active material (CAM).

“We are now at the point where we have more feedstock battery material for recycling under negotiations than can be processed in our current Nevada facility, and as a result we have been conducting preliminary design and site selection processes for our next commercial-scale recycling facility,” Melsert says. “This next facility will be strategically aligned with our partner facilities in location and throughput, and we are excited to have received this support from the U.S. government to apply these $40.5 million in credits towards the accelerated construction and start of operations of this pivotal facility intended to significantly increase the nation’s capacity to manufacture domestic critical battery minerals.”

ABTC is commercializing its internally developed recycling process that utilizes an upfront strategic demanufacturing process, followed by a targeted chemical extraction train in order to recover battery materials with high yields, low costs and a low environmental footprint.

To date, the company has been awarded over $60 million through the 48C program and over $70 million in DOE grants to support investment in its battery recycling and primary battery metals commercialization efforts to build out a domestic circular supply chain for battery metals.