American Battery Technology Company Awarded $20 Million Tax Credit through Competitive US DOE Process to Advance its Critical Minerals Battery Recycling Facility
Award to support capital expenditures to accelerate deployment of next phase of critical battery minerals manufacturing
RENO, Nev., April 3, 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, was selected for an approximately $20 million award through the Qualifying Advanced Energy Project Credits program (48C). This award was granted by the U.S. Department of Treasury Internal Revenue Service following a highly competitive technical and economic review process performed by the U.S. Department of Energy (DOE), which evaluated the feasibility of applicant facilities to advance America’s buildout of globally competitive critical material recycling, processing, and refining infrastructure.