American Battery awarded $20M tax credit to advance battery recycling facility

American Battery was selected for an approximately $20M award through the Qualifying Advanced Energy Project Credits program. This award was granted by the Department of Treasury IRS following a highly competitive technical and economic review process performed by the Department of Energy, which evaluated the feasibility of applicant facilities to advance America’s buildout of globally competitive critical material recycling, processing, and refining infrastructure. The company was awarded a $20M tax credit through a competitive Department of Energy process which will support the advancement of this facility and provide capital expenditures to accelerate deployment of the company’s next phase of critical battery minerals manufacturing. This $20M award can be utilized both for the reimbursement of capital expenditures spent to date, and also for equipment and infrastructure for additional value-add operations at ABTC’s battery recycling facility in the Tahoe-Reno Industrial Center in Storey County, Nevada.