leadf
logo-loader
viewAmerican Battery Metals Corporation

American Battery Metals secures equipment orders for lithium-ion battery metals recycling plant

The plant, located in Fernley, Nevada, takes in battery end-of-life materials and manufacturing waste, disassembles them and separates those feedstock materials into intermediate products

Lithium-ion batteries
American Battery Metals has previously said the location is ideal for its facility that will initially create at least 50 new jobs that could grow to over 200 new positions within the next 24 months

American Battery Metals Corporation (OTCQB:ABML) announced Tuesday that it has finalized the initial equipment orders for its first lithium-ion battery metals recycling plant.

The plant, located in Fernley, Nevada, takes in battery end-of-life materials and manufacturing waste, disassembles them and separates those feedstock materials into intermediate products.

From there, some products will be sold directly to the secondary markets to enable profitable operations, while others will undergo further processing. The products that go through this second phase will instead be upgraded to battery-grade metal feedstocks to be sold back into the high energy density cathode supply chain. The plan is to manufacture the equipment and construct the facility simultaneously, the company said.

READ: American Battery Metals secures industrial land in northern Nevada for its lithium-ion battery recycling facility

“We have now finalized the orders for the equipment to enable the first phase of operations and expect the staggered delivery of this process equipment over the next 4-6 months,” American Battery Materials' chief technology officer, Ryan Melsert said in a statement. 

“Correspondingly, we are proceeding with the steps to close on our secured land deal by September 15 and for the construction of the first phase of our internally designed production facility to be ready to receive equipment for installation in 4-6 months.

“The parallel efforts of the manufacturing of the custom process equipment and the construction of the processing facility will allow for minimum time and costs to enable first start-up of this first-of-kind integrated process,” he added.

American Battery Metals has previously said the location is ideal for its facility which will initially create at least 50 new jobs that could grow to over 200 new positions within the next 24 months.

Once the plant is operational in the first quarter of 2021, the company anticipates that the construction financing will be refinanced with long-term project financing with a large-scale lending institution that may include Small Business Administration (SBA) loan guarantees. 

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: American Battery Metals Corporation

Price: 0.166 USD

OTCQB:ABML
Market: OTCQB
Market Cap: $74.98 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of American Battery Metals Corporation named herein, including the promotion by the Company of American Battery Metals Corporation in any Content...

FOR OUR FULL DISCLAIMER CLICK HERE

American Battery Metals Corporation 'transforming into green technology company'

American Battery Metals Corporation's (OTCQB:ABML) David Batstone introduces the company to Proactive London. He explains that the company is in the process of changing its name to 'American Battery Technology Company'. Batstone goes on to explain that this transition reflects their...

6 days, 14 hours ago

2 min read