American Battery Technology Company raises $50M in debt financing

American Battery Technology Company, or ABTC, is battery material company that since a couple of years is focusing on recycling of lithium-ion scrap. The company is currently commissioning its 20,000 tpa pre-processing plant in Fernley, Nevada in the US. The raised $50M will support not only the recycling operations but also the company's efforts to develop a primary lithium resource and build a lithium hydroxide refinery.

The pre-processing plant uses internally-developed technologies for the demanufacturing and recycling of battery components. A second phase will subsequently be added that includes material recovery and production of battery grade materials while a third phase will increase recovery rates and decrease operating costs. The third phase, which is a $20M project has been selected for grant funding by the Department of Energy in the US.

Recently ABTC also announced a deepened cooperation with the trading investor Techmet-Mercuria which has invested $20M in ABTC as a prepayment for future supply of black mass from ABTC which will be traded by Techmet-Mercuria.