American Battery Technology rises on receiving $20 mln tax credit award
03/04/2024 15:22
** Shares of battery recycling firm American Battery
Technology ABAT.O up 20% at $2
** Co receives $20 mln tax credit award for its critical
minerals recycling facility following U.S. Department of Energy
review process
** Funding can be used for reimbursement of capital
expenditures spent to date and also for equipment and
infrastructure for operations at battery recycling facility -
ABAT
** "These funds will facilitate the acceleration of the
buildout and start of operations of our commercial scale
hydrometallurgy-based recycled battery minerals processing and
refinement systems to increase the overall capacity for domestic
critical mineral manufacturing," - CEO Ryan Melsert
** Including session's gains, ABAT stock has fallen 58% YTD
(Reporting by Kabir Dweit)
((Kabir.Dweit@thomsonreuters.com;))