American Battery Technology Company Releases First Quarter Fiscal Year 2025 Financial Report

Core Insights - American Battery Technology Company (ABTC) reported its financial results for the first fiscal quarter of FY 2025, focusing on the commercialization of technologies for primary battery minerals manufacturing and lithium-ion battery recycling to establish a domestic supply chain in North America [1] Financial Performance - For the three months ended September 30, 2024, ABTC generated revenues of $202,000 from recycled product sales, with a non-GAAP cash cost of goods sold (COGS) amounting to$1.3 million [5] - Government grant reimbursements totaled $1.4 million for the same period, an increase from$0.5 million in the previous year, with $0.3 million offsetting fixed assets and$1.1 million offsetting research and development costs [7] - As of September 30, 2024, ABTC had $5.8 million in total cash on hand and utilized$5.6 million in cash for operations during the quarter, compared to $4.8 million in the same period of the prior year [7][8] Operational Developments - The company has ramped up operations at its first battery recycling facility near Reno, Nevada, and received a$150 million grant from the U.S. Department of Energy to support the construction of a second facility [2][6] - ABTC has manufactured additional battery-grade lithium hydroxide from its Nevada-based claystone material and is evaluating these products for long-term offtake for its commercial-scale lithium refinery [3] Financing Activities - In August 2023, ABTC entered into an agreement for the issuance of zero coupon convertible notes for up to $50 million, initially issuing$25 million, and has now announced an additional $12 million issuance [4]