Rapid ramp up yielding progressive results supporting company's commercialization of its first-of-kind battery metals extraction technologies for both recycling and primary claystone resources RENO, Nev., May 15, 2024 /PRNewswire/ -- American Battery Technology Company (ABTC) (NASDAQ:ABAT), an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, announced its third quarter fiscal year (FY) 2024 financial results, for the period ending March 31, 2024. ABTC is concurrently commercializing its first-of-kind technologies for both its battery recycling operations and its battery grade lithium hydroxide refining from primary claystone with an accelerated fast-to-market approach. The company's dual business model is unique to the battery metals industry and provides the ability to increase the battery metals supply for North America with both primary and secondary resources. During this quarter, the company added an additional shift of operations to its battery recycling facility, manufactured recycled materials, and subsequent to quarter end entered into agreements to sell these recycled metal products to domestic strategic customers. Concurrently, the company has also made great strides in its rapid ramp up of its unconventional claystone to battery grade lithium hydroxide demonstration facility. Project highlights include:  ABTC completed construction and continued ramping of production at its first integrated lithium-ion battery recycling facility in Nevada. This facility produces multiple streams of recycled battery material products, and when fully ramped has the ability to process approximately 20,000 metric tonnes per year of battery feedstock. The company successfully added a second shift of operations during this quarter, and is in the process of adding a third shift as it progresses towards 24/7 operations. The company announced that it has been ramping operations and has successfully completed a fixed duration run of the facility at over 115% of its design rate. The recycling facility has been producing recycled products and the company has entered into agreements to sell these products to domestic strategic customers. In March 2024, ABTC was selected for award of a competitive tax credit for approximately $20 million under the U.S. Department of Energy/IRS 48C Qualifying Energy Project Credit program, which may be used to reimburse the company for a portion of capital expenses already spent on this recycling facility and also for future equipment purchases. The company is in negotiations for the near-term monetization of this tax credit as these 48C credits are transferrable. In March 2024, ABTC was selected for award of an additional competitive tax credit for approximately $40 million under the U.S. Department of Energy/IRS 48C Qualifying Energy Project Credit program to support the construction of a second lithium-ion battery recycling facility. The company is in negotiations for the near-term monetization of this tax credit as these 48C credits are transferrable. ABTC continues to execute on its competitively awarded $10 million U.S. Department of Energy (DOE) grant to support its $20 million project for the commercialization of its next generation of advanced battery recycling technologies. ABTC released an updated Initial Assessment (Preliminary Economic Assessment) of its Tonopah Flats Lithium Project that includes an 8% increase in the average lithium grade and a 7% reduction in average production costs, while utilizing only that portion of the resource classified as Measured or Indicated for the economic analysis. The company completed construction and started commissioning of its claystone to lithium hydroxide (LiOH) demonstration facility which utilizes ABTC's internally-developed processes to access the lithium housed in its unconventional resource at the Tonopah ...