Nasdaq-listed American Battery Technology Company says its metal recycling revenue climbed in the three months to the end of December, producing positive cash flow in a quarter for the first time.
The company, aiming to develop primary lithium production as well as build an electric vehicle battery and consumer electronics waste recycling business, says it is in the process of commercialising internally-developed technologies for both activities.
“We have successfully ramped throughput and implemented operational efficiencies at our critical mineral facilities … and have now for the first time completed a quarter where our revenue from operations and interest income [was] greater than the cash cost of goods sold,” ABTC CEO Ryan Melsert said.
Melsert, who was previously R&D manager for Tesla’s gigafactory battery materials processing group, said ABTC generated US$4.8 million from operations and $5.1 million all up versus its $4.9 million cash cost of goods sold in the second quarter of its fiscal year. It also booked $1.1 million of depreciation expense. The company had $48.7 million cash and no debt at the end of 2025.
Its share price has risen by about 12.5% in 2026, taking its market capitalisation to circa-US$540 million.
Reno-headquartered ABTC claims to be one of the few companies in the Western US capable of handling Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) classified waste at its Nevada lithium-ion battery recycling facility. The plant was permitted by the US Environmental Protection Agency (EPA) in the first half of last year.
Melsert said ABTC had accelerated design of its second battery recycling facility, to be constructed in the southeast US. It is planned to be five-times bigger than the Nevada plant.
The company had progressed several new supply chain agreements with original equipment manufacturers on material offtake.
ABTC was meanwhile progressing its Tonopah Flats lithium project, near the town of Tonopah in Nevada, designated as a Fast-41 Transparency Priority Project under US government investment rules.
The company said it had completed and submitted all baseline studies for the National Environmental Policy Act (NEPA) review process on the back of a two-year effort involving more than 40 regulatory agencies and stakeholders.
Its October 2025 pre-feasibility study outlined a $2 billion, 30,000 tonnes-per-annum lithium hydroxide monohydrate (LHM) venture with a 45-year projected life. ABTC has moved into a definitive feasibility study.
