ABML is a smart play on the electric vehicle (EV) boom with its pilot lithium-ion battery recycling plant in Fernley, Nevada. Elon Musk has said repeatedly that his biggest obstacle is ensuring that Tesla has enough raw materials to meet the demand for the lithium-ion batteries it needs.
Over the past three months, ABML has achieved three critical milestones that enable the Company to move ahead in permitting, constructing, and commissioning its pilot lithium-ion battery recycling plant in Fernley, Nevada:
- Purchased the Pilot Factory Land – ABML purchased 12.44 acres of undeveloped land located at 345 Winston Lane, Fernley, Lyon County, Nevada. ABML will be constructing five separate building areas on this property to create a Pilot Plant campus that includes: Production Process Areas, Feedstock Sorting Area, Analytical Laboratory Spaces & Process Development Bays, a Storage Warehouse, and general Office Space.
- Secured Water Rights – ABML has secured multiple water allocations from the Fernley Area Basin 76 (Lyon, Washoe, Storey, and Churchill Counties) of Nevada’s West Central Region (Hydrographic Region 5). By securing these water rights, ABML ensures it can operate its pilot facility at full throughput with adequate water capacity for many years to come.
- Hired Design/Build Construction Firm – ABML has selected Miles Construction as the design-build contractor for its Fernley pilot plant campus. ABML is finalizing its permitting processes with the City and NDEP and will announce updated permitting and construction timelines in early 2021.
Furthermore, former Tesla executive Ryan Melsert and his team at ABML have been awarded $4.5 million in gov funding for field demonstration of selective leaching, targeted purification, and electrochemical production of battery-grade lithium hydroxide precursor from domestic claystone resources.
Our only concern is that ABML now has a $975 million market cap. Shorts are bound to get aggressive.