American Battery Technology secures $57M DOE grant for lithium project

American Battery Technology has reported strong fourth-quarter fiscal 2026 financial results, including revenues of $8.2 million and an 86% increase in gross profits compared to the previous quarter. The company, which operates in Nevada, is focusing on the recycling of critical minerals and batteries to support the growing demand for energy storage and renewable energy technologies.

A significant development includes the recovery of a $57 million grant from the U.S. Department of Energy (DOE) following a successful appeal. These funds are designated to support the construction of the first processing line for the Tonopah Flats lithium project, a venture with total costs estimated at $115 million.

In a broader effort to secure domestic supply chains, the DOE is also funding initiatives like the CORE-CM project. This program aims to convert mining and energy waste—such as coal mine waste, ashes, and brines—into sources of critical minerals essential for electric vehicles and renewable energy systems.