Reno, Nev., Feb.  14, 2025  (GLOBE NEWSWIRE) -- American Battery Technology Company (ABTC) (NASDAQ: ABAT), an integrated critical battery minerals company that is commercializing its first-of-kind technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, announced its second quarter fiscal year (FY) 2025 financial results, for the period ending December 31, 2024.

Company Highlights from Second Fiscal Quarter 2025:

ABTC successfully implemented several key process enhancements to its first battery recycling near Reno, Nevada during the quarter.  This required a temporary pause in operations, and resulted in significant increases in subsequent plant throughput:

Facility throughput in January 2025 was greater than 225% the average monthly throughput in the previous quarter.Facility throughput in the first week of February 2025 was greater than 350% the average weekly throughput in the previous quarter.Inclusive of the temporary pause in operations for facility upgrading, the company generated $332,000 in revenue from the sale of recycled products during the three months ended December 31, 2024.  The cash cost of goods sold for this period was $2.1 million, after the removal of non-cash items such as depreciation expense and stock-based compensation.As of December 31, 2024, the company had total cash on hand of $20.6 million, including $15.6 million of available cash and $5 million restricted cash.Government grant reimbursement was $2.3 million for the six months ended December 31, 2024, compared to $1.7 million during the same period of the prior year.ABTC successfully completed combined sets of safety audits, environmental reviews, and qualification processes with several additional global automotive, battery manufacturers, and other strategic original equipment manufacturers (OEMs).As the company has engaged with several OEMs for larger quantities of battery feed material than could be processed at its first battery recycling facility, ABTC is in the process of establishing a second battery recycling facility with approximately 5 times the throughput capacity of its first facility.  On December 18, 2024, the company received a contract for a competitive grant award for $144 million of federal investment from the U.S. Department of Energy (DOE) to support the development and construction of this second facility.ABTC has an internally-developed set of technologies to manufacture battery grade lithium hydroxide (LiOH) from Nevada-based claystone material.  ABTC has constructed a multi-tonne per day integrated pilot facility to demonstrate these technologies, and continues to produce battery grade lithium hydroxide product from this facility for evaluation by customers.Based on these demonstrated technologies, ABTC is designing and intends to construct a 30,000 tonne LiOH per year commercial scale refinery near Tonopah, Nevada, and has been awarded a $57.7 million competitive grant from the US DOE to support this project.

Concurrent Commercialization of Recycling and Primary Resource Operations
ABTC is in the fortunate position of having developed technologies for the manufacturing of critical minerals both from its battery recycling operations as well as from its primary claystone to lithium operations. This allows ABTC to move forward with the construction and operation of commercial manufacturing facilities for both sets of technologies to provide its customers and partners with a wide range of critical mineral products from a diversified set of domestic-US feed materials.

Progressing first-of-kind technologies from initial design, to testing and bench scale validations, to integrated piloting, and through commercialization is a multi-faceted process that requires a broad range of skillsets and resources. ABTC is advancing these sets of first-of-kind technologies simultaneously to support the increasing need for domestic-US energy independence, critical minerals dominance, and economic security.

Additional recent company information and updates can be found at www.americanbattery.com/events-and-presentations, including:

American Battery Technology Company’s Annual Meeting of Shareholders Fiscal 2024, Presentation. American Battery Technology Company’s Annual Meeting of Shareholders Fiscal 2024, Video Playback.

About American Battery Technology Company 
American Battery Technology Company (ABTC), headquartered in Reno, Nevada, has pioneered first-of-kind technologies to unlock domestically manufactured and recycled battery metals critically needed to help meet the significant demand from the electric vehicle, stationary storage, and consumer electronics industries.  Committed to a circular supply chain for battery metals, ABTC works to continually innovate and master new battery metals technologies that power a global transition to electrification and the future of sustainable energy. 

Forward-Looking Statements  
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are "forward-looking statements." Although the American Battery Technology Company's (the "Company") management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, risks and uncertainties related to the Company’s ability to continue as a going concern; interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended June 30, 2024. The Company assumes no obligation to update any of the information contained or referenced in this press release.

###

American Battery Technology Company 
Media Contact: 
Tiffiany Moehring 
[email protected] 
720-254-1556

AMERICAN BATTERY TECHNOLOGY COMPANY
Unaudited Condensed Consolidated Statements of Operations

Three months ended 
December 31, 2024   Three months ended 
December 31, 2023   Six months ended 
December 31, 2024   Six months ended 
December 31, 2023  Revenue  $  332,440    $  –    $  534,400    $  –  Cost of goods sold    3,305,743     –     5,848,384     –  Gross loss   (2,973,303 )   –     (5,313,984 )   –   Expenses:  General and administrative   $  7,673,022    $  4,416,716    $  12,682,863    $  7,470,713  Research and development    2,919,865     3,569,167     4,952,000     7,183,018  Exploration costs    234,568     823,425     655,075     2,173,345  Total operating expenses   10,827,455    8,809,308    18,289,938    16,827,076   Net loss before other income (expense)   (13,800,758 )   (8,809,308 )   (23,603,922 )   (16,827,076 )  Other income (expense)  Interest income (expense)    597     (7,647  )    (3,978  )    (142,636  )  Amortization and accretion of financing costs    (732,197  )    (1,132,258  )    (1,904,546  )    (1,865,154  )  Unrealized gain (loss) on investment    -     826     -     (5,497  )  Change in fair value of derivative liability    -     (229,472  )    705,184     (229,473  )  Loss on debt extinguishment    -     -     (675,648  )    -  Loss on private placement    -     -     (567,161  )    -  Change in fair value of liability-classified financial instruments    1,116,388     -     875,100     -  Other income    15,464     -     79,896     -  Total other income (expense)   400,252    (1,368,551 )   (1,491,153 )   (2,242,760 )  Net loss  $ (13,400,506 )  $ (10,177,859 )  $ (25,095,075 )  $ (19,069,836 )  Net loss per share, basic and diluted  $ (0.18 )  $ (0.21 )  $ (0.35 )  $ (0.40 ) Weighted average shares outstanding   75,315,210    47,760,809    72,123,576    47,357,879

AMERICAN BATTERY TECHNOLOGY COMPANY
Unaudited Condensed Consolidated Balance Sheets

December 31, 2024   June 30, 2024  ASSETS  Cash   $  15,623,762    $  7,001,786  Accounts receivable    323,975     228,499  Inventory (Note 4)    574,103     154,320  Grants receivable (Note 5)    27,119     191,522  Prepaid expenses and deposits    527,230     1,813,050  Subscription receivable (Note 13)    -     608,333  Restricted cash    5,000,000     -  Assets held-for-sale (Note 7)    8,408,538     8,408,538  Total current assets   30,484,727    18,406,048   Property, plant and equipment, net (Note 7)    44,534,680     46,314,966  Mining properties (Note 8)    8,392,977     8,392,977  Intangible assets (Note 9)    4,519,038     4,519,038  Right-of-use asset (Note 12)    357,431     42,103  Total assets  $ 88,288,853   $ 77,675,132   LIABILITIES & STOCKHOLDERS’ EQUITY  Accounts payable and accrued liabilities (Note 10)   $  7,167,414    $  9,233,806  Right-of-use lease liability – operating    108,600     117,131  Notes payable, current (Note 11)    10,165,377     6,447,361  Total current liabilities   17,441,391    15,798,298   Right-of-use lease liability – operating – long-term    250,416     -  Equity compensation liability (Note 15)    -     409,194  Total liabilities   17,691,807    16,207,492   Commitments and contingencies (Note 17)   –     –   Stockholders’ Equity:   Series A Preferred Stock Authorized: 33,334 preferred shares, par value of $0.001 per share; Issued and outstanding: nil preferred shares as of December 31, 2024 and June 30, 2024.    –     –  Series B Preferred Stock Authorized: 133,334 preferred shares, par value of $10.00 per share; Issued and outstanding: nil preferred shares as of December 31, 2024 and June 30, 2024.    -     -  Series C Preferred Stock Authorized: 66,667 preferred shares, par value of $10.00 per share; Issued and outstanding: nil preferred shares as of December 31, 2024 and June 30, 2024.    –     –  Series D Preferred Stock Authorized: 5 preferred shares, par value of $0.001 per share; Issued and outstanding: nil preferred shares as of December 31, 2024 and June 30, 2024.    -     -  Preferred stock value    –     –  Common Stock Authorized: 250,000,000 common shares, par value of $0.001 per share; Issued and outstanding: 84,392,375 and 64,061,763 common shares as of December 31, 2024, and June 30, 2024, respectively    84,390     64,059  Additional paid-in capital    310,351,869     275,589,383  Common stock issuable    (1,415,806  )    (857,470  )  Accumulated deficit    (238,423,407  )    (213,328,332  )  Total stockholders’ equity   70,597,046    61,467,640  Total liabilities and stockholders’ equity  $ 88,288,853   $ 77,675,132