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American Battery Metals welcomes increased global investment in energy storage

The global energy storage market is set to balloon to US$71 billion in investment into storage systems by 2024, reckons Wood Mackenzie

American Battery Metals Corporation -
The rise of renewables-plus projects parallels skyrocketing forecasts for electric vehicles, noted the company

American Battery Metals Corporation (OTCMKTS:ABML) has hailed the increase in the global market for energy storage as it continues on its hunt for lithium and vanadium. 

"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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Quick facts: American Battery Metals Corporation

Price: 0.036 USD

Market Cap: $4.78 m

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