American Battery Metals Corp (OTCMKTS:ABML), the Nevada battery recycling and production company, discussed battery recycling and the company's proprietary recycling technology as “a necessary, and profitable,” vertical market.
Battery metals such as lithium, cobalt, nickel and aluminum, are critical to the manufacturing of batteries that power electric vehicles.
In addition to lithium extraction, American Battery Metals operates a lithium mining operation in Nevada’s Railroad Valley and is developing lithium-ion battery recycling technology.
READ: American Battery Metals' JV partner on battery-recycling facility construction calls partnership 'more than transactional'
According to experts, exploration and mining alone will not provide enough near-term supply of crucial resources. Mining and development projects take time to bring resources online, but battery manufacturers need the crucial metals immediately. The US government is actively seeking innovative solutions from the industry to help break America's reliance on foreign sources of critical minerals.
"We intend to work the challenge from both ends, providing a set of closed loop solutions for the supply chain," American Battery Metals CEO Doug Cole said in a statement on Wednesday.
"We are focused on our advanced lithium-ion battery recycling process which will take in feedstock in the form of scrap, consumer electronics, and end of life electric vehicle batteries. We'll harvest and redeploy all the critical metals from those batteries, and we'll simultaneously continue to develop our resource production and extraction divisions," he added.
Under its current program, the Nevada company takes in fully-charged lithium-ion batteries and extracts lithium, cobalt, nickel, copper and aluminum to redeploy them for other uses in batteries.
American Battery Metals Corp, head of business development Doug Nickle, framed the new vertical as "logical market integration."
"Battery recycling is essentially mining from a known commodity. The scrap materials and batteries already contain the required lithium, cobalt, nickel, etc. Recycled materials can go right back into the supply chain, lowering acquisition costs while also making the process more environmentally friendly," said Nickle.
According to Market Watch, the global lithium-ion battery recycling market is expected to expand to $10.55 billion by the end of 2025, with a compound annual growth rate of 39.8% during the 2019-2025 period.
Contact the author Uttara Choudhury at [email protected]
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