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$174 Billion to Encourage Americans to Switch to Cars and Trucks that Run on Electricity
INCLINE VILLAGE, NV / ACCESSWIRE / April 6, 2021 / American Battery Metals Corporation (OTCQB:ABML) (the "Company"), an American-owned lithium-ion battery recycling technology and advanced extraction company with extensive mineral resources in Nevada, which is in the process of changing its name to American Battery Technology Company, discussed President Biden's recently announced proposed infrastructure plan to boost spending toward electric cars and clean power.
President Biden is hoping to make electric vehicles more affordable to turn a niche product into one with mass appeal. The $2 trillion infrastructure plan that he unveiled on Wednesday is aimed at tackling climate change in part by spending up to $174 billion to encourage Americans to switch to cars and trucks that run on electricity, not gasoline or diesel.
American Battery Metals Corporation Chief Operating Officer, Menka Sethi, stated, "We applaud President Biden's call for sweeping investments in electric vehicles, renewable power and the electric grid as part of a broad blueprint to bolster the U.S. economy while combating climate change. As prices of electric vehicles become more in-line with similar conventional cars and trucks and charging electric vehicles is made more accessible and faster, the penetration of EVs will accelerate beyond its current niche status. Industry experts believe supply chain bottlenecks including availability of critical materials will need to be solved to enable wide-spread adoption and usage of EVs. Our company is addressing this challenge by scaling our proprietary lithium battery recycling and extraction technologies to increase production of critical materials in the United States using low environmental impact processes."
American Battery Metals Corporation Chief Executive Officer, Doug Cole, commented, "Our planned 20,000 metric ton per year lithium-ion battery recycling pilot plant has commenced permitting and design-build construction. We expect operations to begin by then end of 2021 and revenue generation in the first quarter of 2022. Its onsite global development center will support both recycling and primary battery metal extraction technologies. The plant will include an analytical lab, process lab and piloting bays evolution of technologies from conceptual to commercialization. Our location in Fernley, Nevada allows for access to on-site renewable solar power and has nearby rail and highway infrastructure. The pilot plant, located in an opportunity zone, is estimated to benefit the local economy by over $348 million in its first 10 years of operation, and will be scalable and repeatable for future plants around the United States."
American Battery Metal Corporation's business plan includes working through industry organizations such as ZETA, Energy Storage Association, and Critical Materials Institute to advocate for smart policies that will enable the transition to the clean energy economy envisioned through President Biden's Infrastructure Plan.
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Create good jobs electrifying vehicles. U.S. market share of plug-in electric vehicle (EV) sales is only one-third the size of the Chinese EV market. The President believes that must change. He is proposing a $174 billion investment to win the EV market. His plan will enable automakers to spur domestic supply chains from raw materials to parts, retool factories to compete globally, and support American workers to make batteries and EVs. It will give consumers point of sale rebates and tax incentives to buy American-made EVs, while ensuring that these vehicles are affordable for all families and manufactured by workers with good jobs. It will establish grant and incentive programs for state and local governments and the private sector to build a national network of 500,000 EV chargers by 2030, while promoting strong labor, training, and installation standards. His plan also will replace 50,000 diesel transit vehicles and electrify at least 20 percent of our yellow school bus fleet through a new Clean Buses for Kids Program at the Environmental Protection Agency, with support from the Department of Energy. These investments will set us on a path to 100 percent clean buses, while ensuring that the American workforce is trained to operate and maintain this 21st century infrastructure. Finally, it will utilize the vast tools of federal procurement to electrify the federal fleet, including the United States Postal Service.
About American Battery Metals Corporation
American Battery Technology Company is uniquely positioned to supply battery metals through its three divisions: lithium-ion battery recycling, extraction technology, and primary resources. The Company recently announced the groundbreaking of its lithium-ion battery recycling facility in Fernley, NV, and issued a public statement outlining its principled approach to executing its ambitious business plan.
American Battery Technology Company has built a clean technology platform that increases production of primary metals used in the batteries that power electric cars, grid storage applications, consumer electronics and tools. The green platform creates a circular economy for battery metals that champions ethical and environmentally sustainable sourcing of critical materials.
For more information, please visit: www.americanbatterytechnology.com
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected project economics for Western Nevada Basin (Railroad Valley), including estimates of life of mine, average production, cash costs, AISC, initial CAPEX, sustaining CAPEX, pre-tax IRR, pre-tax NPV, net cash flows and recovery rates, the impact of self-mining versus contract mining, the timing to obtain necessary permits, the submission of the project for final investment approval and the timing of initial gold production after investment approval and full financing, metallurgy and processing expectations, the mineral resource estimate, expectations regarding the ability to expand the mineral resource through future drilling, ongoing work to be conducted at the Western Nevada Basin (Railroad Valley), and the potential results of such efforts, the potential commissioning of a Pre-Feasibility study and the effects on timing of the project, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended June 30, 2020. The Company assumes no obligation to update any of the information contained or referenced in this press release.
SOURCE: American Battery Metals Corporation