"The rise of renewables-plus projects parallels the skyrocketing forecasts for the electric vehicle market. New solar and wind projects demand increased energy storage systems infrastructure," noted Doug Cole, the company's chief executive.
"Together, these indicators validate that there is significant demand for new, U.S.-based sources of critical battery metals like lithium, cobalt, nickel, manganese, vanadium, and graphite."
READ: American Battery Metals: Latest drill results are cause for 'intense optimism' for lithium in Nevada
Citing the consultancy Wood Mackenzie, the firm also noted that the global energy storage market would balloon to US$71 billion in investment into storage systems by 2024.
It also noted that venture capital funding for battery storage companies in 2019 was up 104% with US$1.6 billion in 25 deals globally compared to the US$783 million in 38 deals seen last year.
Cole added: "At American Battery Metals Corporation, we are "made in the USA," and will continue to explore and develop our battery metal mining claims. We are excited to build out our verticals - which include our mining operations, extraction technology, and battery recycling division - to supply the ever hungry battery metals supply chain."
American Battery Metals is currently focused on its Railroad Valley battery metal project in Nevada with the goal of becoming a major domestic supplier of battery metals to the rapidly growing electric vehicles and battery storage markets in America.
Shares in New York zoomed up 7.25% to US$0.043.
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