ABTC secures $57.7M DOE grant for lithium hydroxide facility

AMERICAN BATTERY TECHNOLOGY Co

DOE awards $57.7M cost-share grant for commercial-scale lithium hydroxide production from Nevada sedimentary resources.
Total project cost $115.5M; ABTC matches DOE funding with $57.7M cash/equity.
Facility to design, construct, commission and operate cathode-grade lithium hydroxide production.
Agreement signed September 1, 2023; full terms to be filed in Q1 FY24 10-Q.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

AMERICAN BATTERY TECHNOLOGY Co entered into Assistance Agreement with United States Department of Energy valued at total project value $115,489,662; DOE share $57,744,831; Company cost share $57,744,831 (effective 2023-09-01).

Action: entry
Counterparty: United States Department of Energy
Value: total project value $115,489,662; DOE share $57,744,831; Company cost share $57,744,831
Effective: 2023-09-01

Exact text from the filing

On September 1, 2023, American Battery Technology Company (the “Company”) and the United States Department of Energy (the “DOE”) entered into an Assistance Agreement (the “Grant”), award number DE-MS0000010, for a $115,489,662 project for the design, construction, commissioning, and operation of a commercial scale facility for the manufacturing of battery cathode grade lithium hydroxide from unconventional Nevada-based lithium-bearing sedimentary resources.

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Source: SEC EDGAR

accession 0001493152-23-031735

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