American Battery Technology Awarded $20 Million Tax Credit
By Chris Wack
American Battery Technology said it was selected for a $20 million award through the Qualifying Advanced Energy Project Credits program granted by the U.S. Department of Treasury's Internal Revenue Service.
The award follow a technical and economic review process performed by the U.S. Department of Energy, which evaluated the feasibility of applicant facilities to advance the buildout of critical material recycling, processing and refining infrastructure.
American Battery said the $20 million award can be used both for the reimbursement of capital expenditures spent to date, and also for equipment and infrastructure for additional value-add operations at its battery recycling facility in the Tahoe-Reno Industrial Center in Storey County, Nev.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
April 03, 2024 09:39 ET (13:39 GMT)
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