American Battery Technology Posts Profit but Faces Export Restrictions
On September 14, American Battery Technology Company (NASDAQ:ABAT) reported its first-ever adjusted gross profit as revenue from its flagship recycling facility surged over 400% to $21.7 million year-over-year. The company’s cash balance increased significantly and it eliminated all long-term debt during the fiscal year. Growth plans include a second U.S.-based recycling plant, supported by federal grants totaling $160 million. Despite these gains, CEO Ryan Melsert highlighted new regulatory risks: A directive from the US Department of Commerce may restrict exports of black mass unless exceptions are granted. ABAT has applied for an exception but is awaiting a response while storing its product domestically in the interim. This follows past federal uncertainties that delayed grant funding and permitting. The company’s Tonopah lithium project, though advanced with FAST-41 designation, remains years from production as it enters full environmental review under NEPA.
Tickers: $ABAT
Topics: battery recycling federal regulation growth plans profitability