Business Context and Reporting Period
Company: American Battery Technology Company
Filing Type: Form 8-K (Current Report)
Date of Report: September 1, 2023
Reporting Period: Event date September 1, 2023
The Company entered into a Material Definitive Agreement with the United States Department of Energy (DOE) to advance its lithium production capabilities.
Key Financial Metrics
This filing reports a specific capital event rather than periodic financial performance. Consequently, standard metrics such as revenue, profit, cash flow, margins, and debt are not provided in this document.
| Metric | Value |
|---|---|
| Total Project Value | $115,489,662 |
| DOE Grant Amount | $57,744,831 |
| Company Cost Share | $57,744,831 |
Material Changes
The primary material change is the execution of Assistance Agreement award number DE-MS0000010. This agreement facilitates the design, construction, commissioning, and operation of a commercial-scale facility for manufacturing battery cathode grade lithium hydroxide from unconventional Nevada-based lithium-bearing sedimentary resources.
Outlook, Risks, and Management Commentary
Management Commentary: The Company has secured significant federal funding to support its commercial-scale manufacturing initiative. The full text of the agreement will be filed as an exhibit to the Quarterly Report on Form 10-Q for the quarter ending September 30, 2023.
Risks and Contingencies: The filing does not explicitly detail risks or contingencies beyond the standard qualification that the description is subject to the full agreement terms. The project requires the Company to fund 50% of the total cost ($57,744,831).
Investor Verification Checklist
- Verify the Company's current liquidity and ability to fund the $57,744,831 cost share required by the DOE grant.
- Review the full Assistance Agreement (to be filed in the Q3 2023 Form 10-Q) for specific milestones, clawback provisions, and performance conditions.
- Confirm the timeline for the design, construction, and commissioning phases of the Nevada facility.
- Assess the status of the "unconventional Nevada-based lithium-bearing sedimentary resources" referenced in the project scope.