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American Battery Technology Company (NASDAQ: ABAT), headquartered in Reno, Nevada, is an integrated firm focused on critical battery materials. The company develops technologies for primary lithium extraction and secondary lithium-ion battery recycling. Since its founding in 2011, ABAT has pursued a closed-loop supply chain model designed to reduce dependence on foreign raw materials and support North American electrification efforts.
Corporate Structure
ABAT operates with a workforce of approximately 51–200 employees across its research, engineering, operations, and commercial teams. Under the leadership of CEO Ryan Melsert, the company has formed partnerships with various entities, including BASF, Siemens, Clemson University’s International Center for Automotive Research, and the Argonne National Laboratory, to advance its recycling and mineral processing operations.
Battery recycling by John Cameron
Recent Developments and News
- Fall 2023: Commissioned its first commercial lithium-ion battery recycling facility near Reno, utilizing proprietary de-manufacturing and targeted chemical extraction processes.
- September 23, 2024: Selected by the U.S. Department of Energy for a federal grant of $150 million to construct a second recycling facility capable of processing approximately 100,000 tonnes of battery materials per year.
- DOE Grant History: Awarded $2 million in October 2021 and $20 million in November 2022 to support the advancement of next-generation recycling technologies; received $20 million in advanced energy project tax credits (Section 48C) in March 2024 for its Reno facility.
- LinkedIn Updates (2025): Published a Pre-Feasibility Study for the Tonopah Flats Lithium Project, completed NEPA baseline studies, and announced membership in the Volta Foundation, a network for battery professionals.
Financial and Strategic Aspects
As of October 20, 2025, ABAT shares traded on NASDAQ at $6.415, an increase of 32.27% on a volume of 18,535,667. Key metrics are summarized below:
| Metric | Value |
|---|---|
| Market Price | $6.415 |
| 52-Week Range | $0.73 – $11.49 |
| Market Capitalization (intraday) | $572.5 million |
| Revenue (TTM) | $4.29 million |
| Net Income (TTM) | –$46.76 million |
| Diluted EPS (TTM) | –$0.58 |
| Total Cash (MRQ) | $7.47 million |
| Total Debt/Equity (MRQ) | 11.38% |
| Levered Free Cash Flow (TTM) | –$21.72 million |
| Price/Sales (TTM) | 93.79× |
| Price/Book (MRQ) | 8.38× |
| Beta (5Y Monthly) | 1.58 |
| 1-Year Target Estimate | $6.00 |
The company continues to experience net losses, accompanied by negative free cash flow. Its cash balance relative to quarterly expenditures indicates reliance on federal grants, tax credits, and potential equity or debt financing to fund expansion. Strategically, federal support and partnerships with industry players are important for its position in domestic battery recycling and primary lithium processing.
Market Position and Industry Context
ABAT's proprietary recycling processes differ from traditional methods such as high-temperature smelting or mechanical shredding, focusing on producing battery-grade materials at competitive costs while aiming to minimize environmental impacts. In an industry that is evolving due to increasing electric vehicle adoption and government policies on domestic critical minerals, ABAT is among the few U.S. companies working to scale commercial-size recycling capacity. Its dual focus on end-of-life battery recycling and claystone-to-lithium extraction allows it to address supply chain diversification and circular economy goals.
tl;dr
On October 20, 2025, ABAT shares rose 32.27% to $6.415 amid significant trading volume. The company is advancing its second DOE-funded lithium-ion recycling facility, designed to process 100,000 tonnes per year, after the commissioning of its first facility in Fall 2023. Despite ongoing net losses and negative free cash flow, ABAT relies on federal grants and corporate partnerships to bolster its domestic battery materials supply chain. Future developments will depend on the timelines for facility start-ups and successful financing strategies to support operations.
