Goldman Sachs is out with its near-term forex outlook
RENO, Nev. - American Battery Technology Company (NASDAQ: ABAT), a leader in battery mineral production and recycling currently valued at $85.5 million in market capitalization, has entered into a contract to sell a 12-acre property in Fernley, Nevada, for $6.75 million. According to InvestingPro data, the company maintains a healthy current ratio of 1.75 despite facing cash burn challenges in recent quarters. The sale is expected to close by July 10, 2025, and is part of the company’s strategic efforts to focus on its lithium-ion battery recycling technology and operations.
The property, located at 395 Logan Lane, is one of the company’s unused legacy assets. The proceeds from the sale will support the advancement of ABTC’s commercial-scale battery recycling facility at the Tahoe-Reno Industrial Center in McCarran, Nevada. This strategic move comes as the company operates with a moderate debt level, with a debt-to-equity ratio of 0.15. CEO Ryan Melsert emphasized that the sale will provide additional resources to execute the second phase of the company’s advanced recycling technologies. This phase aims to strengthen ABTC’s role in developing a closed-loop battery material supply chain in North America.
ABTC’s recycling facility at TRIC is built on a unique technology framework that combines advanced de-manufacturing processes with selective hydrometallurgical methods. This allows for the processing of various types of lithium-ion batteries, regardless of their size, shape, or chemistry. The first operational phase of the facility produces materials such as copper, aluminum, steel, lithium intermediate, and black mass. The second phase, which the sale of the Fernley property will help finance, involves the refinement of these materials into battery-grade nickel sulfate, cobalt sulfate, manganese sulfate, and lithium hydroxide.
The company is also evaluating opportunities for another real property asset at 390 Logan Lane and its water rights holdings in Fernley, Nevada. ABTC, headquartered in Reno, Nevada, is committed to creating a circular supply chain for battery metals and is continuously working on new technologies to meet the growing demand from the electric vehicle, stationary storage, and consumer electronics industries. With analysts forecasting revenue growth of 311% for fiscal year 2025, investors seeking deeper insights into ABTC’s potential can access additional financial metrics and expert analysis through InvestingPro, which offers 8 more exclusive tips about the company’s performance and outlook.
The information in this article is based on a press release statement from American Battery Technology Company.
In other recent news, American Battery Technology Company reported a significant increase in its production of recycled battery materials, more than doubling output in the latest quarter ending March 31, 2025. This boost is attributed to the company’s shift to continuous 24/7 operations and improvements in manufacturing throughput at its lithium-ion battery recycling facility. In another development, American Battery Technology Company has entered into an agreement to sell a property in Lyon County, Nevada, for $6.75 million, with the transaction expected to close by July 10, 2025. The sale aligns with the company’s strategy to focus on core business operations within the energy and transportation sectors.
Additionally, the company announced the retirement of its Chief Financial Officer, Jesse Deutsch, effective January 31, 2025, with Paul McGarry appointed as the interim CFO starting February 1, 2025. McGarry, who is currently the company’s Controller, brings extensive financial experience from previous roles, including his tenure at Rockwell Medical, Inc. Furthermore, American Battery Technology Company has regained compliance with Nasdaq’s minimum bid price requirement, ensuring its stock will continue to be listed on the Nasdaq Stock Market. This compliance was confirmed following a notification from Nasdaq that the company’s stock maintained a closing bid price of $1.00 or greater for over 10 consecutive business days.
These recent developments reflect American Battery Technology Company’s ongoing efforts to strengthen its market position and operational focus.
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