American Battery to sell legacy property in Fernley, Nevada for $6.75M

Seeking Alpha News (Fri, 04-Apr 9:53 AM)

  • American Battery Technology (NASDAQ:ABAT) has announced the sale of one of its unused legacy properties, located at 395 Logan Lane in Fernley, Nevada.
  • This 12-acre property entered into contract to sell for $6.75M, with the transaction expected to close on or before July 10.
  • This strategic sale will support the company's mission to advance its lithium-ion battery recycling technologies and streamlined operations at its commercial-scale battery recycling facility in the Tahoe-Reno Industrial Center at 2500 Peru Drive, McCarran, Nevada.
  • The prioritization of this operational facility at TRIC allows ABTC to continue its focused implementation on its recycling processes that are critical to developing a domestic supply of refined battery materials.
  • The company continues to evaluate opportunities for its real property asset at 390 Logan Lane and the company's water rights holdings located in Fernley, Nevada.