Published on November 22nd, 2022 📆 | 7615 Views ⚑0
American Battery Technology Company receives $10 million DOE grant
Reno-based American Battery Technology Co. was awarded a $10 million grant by the Department of Energy, the second time that the company has received federal grant funding in the last couple of months.
American Battery Technology was one of five companies selected for a DOE grant program funded through the Bipartisan Infrastructure Law. The funding will be used to help validate, test and deploy the company’s lithium-ion battery recycling technology, according to CEO Ryan Melsert.
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“Similar to the continuous development required of advanced lithium-ion battery technologies, the recycling of these batteries requires rigorous continuous improvement, optimization and commercialization efforts,” Melsert said in a statement.
In addition to the DOE funding, American Battery Technology Company and its partners will also contribute an additional $10 million to bring total investment up to $20 million. The company’s partners include the University of Nevada, Reno; National Renewable Energy Laboratory; Argonne National Laboratory; Novonix Group; and Dainen Material.
American Battery Technology Co. also received $57.7 million in federal grant funding in October. The previous funding was earmarked for building and operating a commercial-scale facility that will manufacture battery materials from unconventional lithium sources.
The company has more than 10,000 acres of lithium-bearing sedimentary resources near Tonopah, as well as its Pilot Plant in Fernley.
The grant was welcomed by Nevada Sens. Catherine Cortez Masto and Jacky Rosen, who both supported the Bipartisan Infrastructure Law that was signed by President Joe Biden on November 15, 2021.
“As we work towards a clean energy future, Nevada can lead the way by bolstering our domestic energy manufacturing and creating jobs,” Rosen said in a statement. “This grant … will provide nearly $10 million to advance electric vehicle battery manufacturing and recycling in Nevada, which will create good-paying jobs and strengthen our energy supply chain.”