Mentioned:
American Battery Technology has just been given a new license from the Department of Commerce. And it might restore their largest revenue stream.
What’s happening:
- American Battery Technology (NASDAQ: ABAT) has been granted an export license for recycled black mass from the United States Department of Commerce for up to $100M USD
Why it matters:
- The United States federal government had effectively banned black mass exports under a new Defense Priorities and Allocation System directive which put the majority of American Battery Technology’s existing revenue at risk
Going deeper:
- Black mass notably contains valuable critical minerals such as nickel, lithium, cobalt and graphite which can be refined and returned to the critical minerals supply chain to be used in the manufacturing of new products
- American Battery Technology will now be allowed to sell up to $100M USD of recycled black mass to companies in foreign countries with the new approval from the United States Department of Commerce
The fine print:
- American Battery Technology has not yet publicly disclosed any new contracts or planned shipments for exports of their recycled black mass under the new license
