American Battery Technology Company

What they do

ABTC operates a lithium-ion battery recycling facility in McCarran, Nevada, processing waste and end-of-life batteries from electric vehicle, energy storage, and consumer electronics industries. The company also explores primary lithium resources in Nevada and develops proprietary extraction technologies. Its three-pronged approach aims to increase domestic production of lithium, nickel, cobalt, and manganese and return materials to the supply chain in a closed loop.

Revenue drivers

• Battery recycling services — Core revenue source; generated first revenue in Q4 FY2024 and has grown production volumes and revenue through March 31, 2026.
• Recycled battery materials sales — Sells recovered elemental metals (e.g., lithium, cobalt, nickel) into the domestic supply chain; revenue reached $4.3M in FY2025.
• Government grants and tax credits — Awarded a $19.5M 48C tax credit and DOE grants totaling $22M for technology development and facility expansion, contributing non-operating income and funding.

Recent performance

Quarterly revenue has risen sequentially from $937,589 (Sept 2025) to $4.8M (Dec 2025) and $7.8M (Mar 2026). FY2025 annual revenue was $4.3M, up from $343,500 in FY2024. Net loss for FY2025 was $46.8M, with diluted EPS of -$0.58. Operating cash flow was -$28.9M in FY2025. As of March 31, 2026, the company had cash of $37.7M, total assets of $119.4M, and no significant debt ($2.1M long-term debt).

Strategy

Management prioritizes the ramp-up and operational efficiency of the first integrated recycling facility, hiring technical staff and expanding lab capabilities. The company is pursuing a DOE-funded $20M project to deploy three next-generation separation and processing technologies. It also plans to utilize the $19.5M 48C tax credit for capital expenditure reimbursement and additional value-add operations. Long-term, ABTC aims to integrate primary resource extraction with recycling to create a closed-loop domestic supply chain.

Risks

• Going concern — Substantial doubt exists about the company's ability to continue as a going concern and achieve profitability.
• Financing needs — Requires significant additional financing within 12 months to fund operations and development; no assurance capital will be available.
• Recycling facility performance — Business is dependent on continued operation and improved efficiency of the recycling plant, as well as securing sufficient feedstock.
• Metal price volatility — Profitability is exposed to volatile global metal prices for lithium, nickel, cobalt, and manganese.

Outlook

Management expects continued growth in production volumes and revenue through fiscal 2026 as the recycling facility ramps up. The company is executing on DOE-backed technology deployment and 48C tax credit utilization to expand operations. However, the need for additional capital and the going concern uncertainty remain key near-term challenges.