ABAT News & Events

Over the quarter, American Battery Technology said it significantly ramped and streamlined operations at its Nevada critical mineral recycling facility and achieved record breaking revenue with a 64% increase quarter-over-quarter, while cost of goods sold increased only 11% over the same period, and correspondingly the company achieved its first-ever positive gross margin. This substantial growth in the throughput of its recycling facility has allowed ABTC to capitalize on strong market conditions and solidify itself as one of the dominant critical mineral recyclers in the United States. "Demonstrating positive gross margin from operations is a major milestone that many growth companies never achieve and allows us to enable self-sustaining operations of our critical mineral recycling facility," stated American Battery Technology Company CEO Ryan Melsert. "The gross profit generated by this facility provides additional resources as we continue to scale the operations at this first critical mineral recycling facility, construct and bring to operations our second recycling facility, and construct and ramp our critical mineral lithium mine and refinery to support the U.S. establishing dominance with a closed loop domestic critical mineral supply chain."

Reports Q2 revenue $4.8M vs. $332,440 last year. "We are extremely proud that as we have successfully ramped throughput and implemented operational efficiencies at our critical mineral facilities, that we have now for the first time completed a quarter where our revenue from operations and interest income are greater than the cash cost of goods sold. We have also engaged with the investment community to increase our cash balance to one of its highest levels in years to facilitate the further expansion of our current facilities and the groundbreaking of new ones," said American Battery Technology Company CEO Ryan Melsert.