Continues to Advance the Scaling and Commercialization of its Recycling Process
INCLINE VILLAGE, NV / ACCESSWIRE / March 24, 2021 / American Battery Metals Corporation (OTCQB:ABML) (the "Company"), an American-owned lithium-ion battery recycling and advanced battery metal extraction technology company with extensive mineral resources in Nevada, which is in the process of changing its name to American Battery Technology Company, is pleased to provide the following progress update on its work and the development of its lithium-ion battery recycling pilot plant facility.
American Battery Technology Company (ABTC) finished the detailed design of its integrated lithium-ion battery recycling processing train over a year ago. Since then we have been focusing on scaling and commercializing our recycling process through development of a pilot plant in Fernley, Nevada. Through work at the Greentown Labs facility, our technology team that includes Chief Technology Officer Ryan Melsert, Principal Chemical Engineer August Meng, and Senior Chemist Axel Drefahl has been generating sample material (battery grade metals that will be produced at our pilot plant) to deliver to cathode manufacturers to move through their internal supplier qualification processes. We have also continued progress over the past month, as outlined below, in developing our lithium-ion battery recycling pilot plant.
Water Rights Closings: ABTC closed on the acquisition of 55 acre-feet/year of water purchased from three separate sellers. We anticipate closing an additional 61.635 acre-feet/year by the end of this month with 5.175 acre-feet/year more closing next month. These water rights occur in the Fernley Area of Nevada Hydrographic Basin 76, and ensure our lithium-ion battery recycling pilot plant will have adequate water to operate at full capacity.
Geotechnical Investigations: Final geotechnical investigations will occur on the Fernley pilot plant site this coming Thursday and Friday. Three infiltration tests will be performed. Data gathered from these tests will inform our pilot plant foundation design. An excavator will be on site to excavate test pits and also a water truck to supply water for the testing. Completion of the final geotechnical investigation will enable the Miles Construction team to finish grading plans and submit grading permit applications to the City of Fernley. It is expected that grading permit applications will be submitted in April and that grading operations will commence in May.
Request for Confidentiality to Protect Company IP in Permitting Process: On February 25, 2021 the Nevada Division of Environmental Protection approved ABTC's "Request for Confidentiality for New Class II Air Quality Operating Permit". This agreement ensures that our highly proprietary integrated lithium-ion battery recycling processing train intellectual property will remain confidential throughout the environmental permitting process for our pilot plant. We are currently working towards the submittal of a Class II Air Quality Operating Permit Application under these approved confidentiality guidelines.
Conditional Use Permit Application: The City of Fernley ("City") is currently reviewing ABTC's Conditional Use Permit (CUP) application for our lithium-ion battery recycling pilot plant. The ABTC and Miles Construction teams continue to engage with City staff, and the pilot plant CUP application is tentatively scheduled for discussion at the Fernley Planning Commission meeting in mid-May.
New Development Center at Nevada Center for Applied Research at the University of Nevada Reno: ABTC had planned to solely focus on scaling up its recycling operations in the coming year, however when it was selected for a grant from the US DoE Advanced Manufacturing Office in late January, 2021 for primary lithium extraction and cathode specification hydroxide manufacturing from sedimentary resources technologies, we had to pivot and bring on new resources. We are now accelerating our primary lithium extraction development efforts in line with this government grant program and with our corporate partners. Our team has secured new laboratory and development space at the University of Nevada Reno Applied Research Facility to build out these larger prototype systems throughout the rest of this year until we are ready to build our multi-ton per day field units next year to further support this grant program.
Carlos Cardillo, Director of Nevada Center for Applied Research (NCAR) at University of Nevada Reno welcomed ABTC to the Applied Research Facility, "American Battery Technology Company is a new NCAR affiliated corporation, a domestic manufacturing of low-environmental impact and low-cost lithium-ion battery metal feedstocks. It is encouraging to have a global leader with innovative, sustainable technologies on campus!"
ABTC looks forward to continuing our work to become an industry leader in the production of battery metals that will fuel the new energy revolution and to put in place a circular economy for critical materials in the United States and beyond. Thank you to our home State of Nevada for its continued support of our work.
About American Battery Metals Corporation
American Battery Technology Company is uniquely positioned to supply battery metals through its three divisions: lithium-ion battery recycling, extraction technology, and primary resources. The Company recently announced the groundbreaking of its lithium-ion battery recycling facility in Fernley, NV, and issued a recent shareholder letter outlining achievements of the past year.
American Battery Technology Company has built a clean technology platform that increases production of primary metals used in the batteries that power electric cars, grid storage applications, consumer electronics and tools. The green platform creates a circular economy for battery metals that champions ethical and environmentally sustainable sourcing of critical materials.
For more information, please visit: www.americanbatterytechnology.com
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected project economics for Western Nevada Basin (Railroad Valley), including estimates of life of mine, average production, cash costs, AISC, initial CAPEX, sustaining CAPEX, pre-tax IRR, pre-tax NPV, net cash flows and recovery rates, the impact of self-mining versus contract mining, the timing to obtain necessary permits, the submission of the project for final investment approval and the timing of initial gold production after investment approval and full financing, metallurgy and processing expectations, the mineral resource estimate, expectations regarding the ability to expand the mineral resource through future drilling, ongoing work to be conducted at the Western Nevada Basin (Railroad Valley), and the potential results of such efforts, the potential commissioning of a Pre-Feasibility study and the effects on timing of the project, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended June 30, 2020. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Contact Information
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SOURCE: American Battery Metals Corporation