AMERICAN BATTERY TECHNOLOGY Co (NASDAQ: ABAT)

American Battery Technology Company is an integrated critical battery materials company operating in the lithium-ion battery industry. The firm focuses on exploring and developing primary battery metal resources, advancing extraction technologies for lithium, nickel, cobalt and manganese, and commercially recycling lithium-ion batteries to produce battery-grade materials. By combining primary resource development with closed loop recycling, the company aims to increase domestic U. S. supply of critical battery materials and return end-of-life metals to the manufacturing supply chain.

The company generates revenue primarily from the sale of battery-grade lithium, nickel, cobalt and manganese produced through its recycling operations and primary resource projects. Revenue also comes from the sale of by product scrap metals, such as steel and aluminum, recovered during the battery de-manufacturing process. Additionally, the company may earn income from technology licensing, collaborative development agreements, and government grants that support the commercialization of its recycling and extraction processes.

The company operates through the following segments: Battery Recycling and Primary Resource Development & Refining.

• Battery Recycling: This segment uses a two-phase process that first mechanically de-manufactures lithium-ion batteries into component streams, including a black mass filter cake, and then chemically extracts lithium, nickel, cobalt, manganese and other metals to battery cathode grade specifications without high temperature smelting.

• Primary Resource Development & Refining: This segment focuses on exploring Nevada-based sedimentary claystone deposits for lithium, developing a selective leaching process to produce battery-grade lithium hydroxide, and operating a demonstration scale facility to validate the extraction and refining technology at pilot scale.

American Battery Technology Company holds a niche position in the domestic battery materials sector as one of the few U. S.-based firms capable of both producing critical metals from recycled batteries and extracting lithium from unconventional claystone resources. Its competitors in recycling include established players in Europe, South Korea and China that rely on pyrometallurgical or hydrometallurgical methods with limited lithium recovery, while primary producers are largely located overseas in Australia, South America and Asia. The company’s competitive advantages stem from its low emission, low energy recycling process, high recovery rates for lithium and manganese, and the integration of recycling with primary resource development to create a closed loop supply chain.

The company’s customers and collaborators include battery material users such as cathode manufacturers, automotive original equipment manufacturers and cell producers. Specific partners named in the filing are BASF, which collaborates on recycling technology development; the U. S. Advanced Battery Consortium members General Motors, Ford Motor Company and Stellantis NV, which funded a recycling demonstration project; and cell technology developer C4V, which will test recycled material in automotive cells. In addition, the company expects to sell its battery-grade metals and by product scrap to industrial users and traders in the broader battery supply chain.