AMERICAN BATTERY TECHNOLOGY Business Summary

American Battery Technology Company (ABAT) operates as an integrated battery critical minerals producer, generating revenue through a dual-track model of lithium-ion battery recycling and primary resource development. The company’s primary business segments include secondary critical mineral recycling, which processes end-of-life batteries from electric vehicles (EVs) and stationary storage into cathode-grade materials, and primary mineral manufacturing focused on extracting lithium from its 10,340-acre Tonopah Flats Lithium Project in Nevada. As of Q2 FY2026, ABAT achieved a significant commercial milestone, reporting record operational revenue of $4.8 million—a 1,300% year-over-year increase—and reaching positive cash margins where combined revenue and interest exceeded cash cost of goods sold. Direct competitors include Li-Cycle, Ascend Elements, and Lithium Americas; ABAT distinguishes itself by utilizing a proprietary hydrometallurgical process that enables a closed-loop domestic supply chain with lower environmental impact and production costs than traditional virgin mining. Originally incorporated in 2011, the company underwent a strategic transformation starting in 2019 and is now led by CEO and CTO Ryan Melsert, a former R&D Manager for Tesla’s Gigafactory Battery Materials Processing group. In February 2026, ABAT further bolstered its executive pedigree by appointing Alejandro "Alex" Flores Arteaga as CFO, who previously served as CFO for the Stellantis-Samsung SDI joint venture and secured a record $7.5 billion Department of Energy (DOE) loan. The operational team includes COO Steven Wu, an expert in manufacturing scale-up with prior leadership experience at Rivian, Apple, and Uber. Governance is overseen by a board of directors chaired by Rick Fezell and featuring members like Elizabeth Lowery and Susan Yun Lee, while the company’s capital structure is supported by significant federal investment, including over $300 million in cumulative DOE grants and a $900 million Letter of Interest from the EXIM Bank.