Business Context and Reporting Period
Company: American Battery Technology Company (ABAT)
Filing Type: Form 8-K (Current Report)
Date of Report: December 16, 2024
Reporting Period: Event date December 16, 2024; Grant effective date January 1, 2025.
Key Financial Metrics
This filing reports a material definitive agreement rather than periodic financial results. No revenue, profit, cash flow, or margin data is provided in this document.
| Metric | Value |
|---|---|
| Total Project Value | $368,492,614 |
| DOE Cost Share (Total) | $143,600,000 |
| DOE Funds Obligated | $122,993,645.63 |
| Company Cost Share | $224,892,614 |
| Subcontractor Payment (Argonne National Laboratory) | $6,400,000 |
Material Changes
The Company entered into an Assistance Agreement (Grant) with the United States Department of Energy (DOE) for a commercial-scale battery recycling facility. This represents a significant capital project milestone. The filing notes that $6,400,000 of the DOE's previously announced $150,000,000 award is payable directly to Argonne National Laboratory, a subcontractor.
Guidance, Outlook, and Risks
Outlook: The grant supports the development of a commercial-scale battery recycling facility with an effective start date of January 1, 2025.
Management Commentary: The Company issued a press release on December 18, 2024, announcing the Grant.
Risks/Contingencies: The filing states that the description of the Grant is qualified in its entirety by the agreement itself, which will be filed as an exhibit to the Form 10-Q for the quarter ending December 31, 2024. Specific terms and conditions are not detailed in this 8-K.
Investor Verification Checklist
- Verify the full text of the Assistance Agreement (Award No. DE-MS0000104) in the upcoming Form 10-Q.
- Confirm the specific milestones and conditions required to release the remaining DOE funds.
- Review the Company's capital expenditure plans to ensure the $224,892,614 cost share is adequately funded.
- Monitor the status of the $6,400,000 payment to Argonne National Laboratory.