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RENO - American Battery Technology Company (NASDAQ:ABAT), a $153 million market cap battery technology firm currently trading at $1.65, has been awarded a $1 million grant from the U.S. Department of Energy’s Argonne National Laboratory to advance its lithium hydroxide manufacturing technology, according to a press release statement issued Tuesday. According to InvestingPro analysis, while the company has shown strong returns over the past three months, it faces significant operational challenges, with 8 more key insights available to subscribers.
The competitive grant will support ABTC’s partnership with Argonne National Laboratory to utilize the Advanced Photon Source particle accelerator and Aurora Exascale Supercomputer for testing and data analysis of the company’s electrochemical lithium conversion system. Despite current challenges reflected in its negative EBITDA of -$41 million, analysts project significant revenue growth of over 300% for the coming year.
ABTC’s technology aims to produce lithium hydroxide without the large-scale consumption and generation of chemical agents typically required in conventional lithium manufacturing processes. The company claims this approach could reduce operational costs while minimizing environmental impact.
"We are committed to developing the next generation of critical mineral manufacturing technologies and to bringing these technologies to commercialization in our domestic-US facilities," said ABTC CEO Ryan Melsert in the statement.
The collaboration will focus on performing advanced imaging and characterization techniques to quantify the performance metrics of ABTC’s electrochemical conversion device over time. Data generated from the particle accelerator trials will be processed using Argonne’s Aurora Exascale Supercomputer.
ABTC plans to integrate these lithium hydroxide manufacturing technologies into both its critical mineral recycling facilities and its claystone-to-lithium hydroxide refinery near Tonopah, Nevada.
The company is also engaged in projects with other Department of Energy National Laboratories, including Idaho National Laboratory and National Renewable Energy Laboratory, as part of its strategy to advance domestically manufactured critical minerals.
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