Tonopah Flats, Nevada – American Battery Technology Company (NASDAQ: ABAT) saw its shares surge after its flagship Tonopah Flats Lithium Project (TFLP) in Nevada was granted “transparency priority” status by the U.S. Federal Permitting Council. This designation places the project on the FAST-41 permitting dashboard, highlighting its strategic importance to domestic critical mineral production and energy independence.
The recognition comes just two months after the project attracted interest for a potential $900 million loan from the U.S. Export-Import Bank (EXIM), signaling growing federal support for ABAT’s role in building America’s battery supply chain.
“We are excited by this selection of our Tonopah Flats lithium project as a FAST-41 critical mineral transparency project,” said Ryan Melsert, CEO of ABAT. “As we navigate permitting with several federal agencies, this support helps us move more efficiently toward construction.”
While FAST-41 transparency projects do not benefit from the full coordination and expedited reviews afforded to FAST-41 covered projects, they gain visibility through the dashboard, fostering greater inter-agency awareness and public oversight.
Tonopah Flats: A Critical U.S. Lithium Resource
Located in Nevada’s Big Smoky Valley, the Tonopah Flats project is one of the largest known lithium-rich claystone deposits in the U.S. An initial SEC S-K 1300 assessment in 2024 reported more than 6 billion tonnes of resources grading 574 ppm lithium. Over the life of the mine, ABAT expects to process 597 million tonnes of claystone, with an average grade of 4,111 ppm lithium hydroxide monohydrate (LHM). The project carries a net present value (NPV) of $4.67 billion based on a 10% discount rate.
To unlock this vast resource, ABAT has developed proprietary lithium extraction and purification technologies designed to reduce environmental impact and cost compared to traditional methods. This innovation has drawn significant federal backing.
The company previously received a U.S. Department of Energy grant in 2021 to pilot its field demonstration system. It later secured an additional $57 million in federal funding to build a $115 million commercial-scale facility to produce lithium hydroxide monohydrate.
In another milestone, ABAT was awarded $144 million in late 2024 from the Department of Energy to develop a commercial-scale lithium-ion battery recycling facility—expanding its presence across the battery materials supply chain.
“The Permitting Council stands ready to bring the transparency of our program to these projects, speeding the production of the critical minerals needed for our national and economic security,” said Emily Domenech, Executive Director of the Permitting Council.
With the new designation, ABAT is working closely with multiple federal agencies, including the U.S. Department of the Interior, which manages the land on which the Tonopah Flats project is located.
Looking Ahead
Tonopah Flats is one of just three new critical mineral projects added to the FAST-41 dashboard under the Trump administration in 2025. With access to public funding, increased visibility, and a growing track record of innovation, American Battery Technology Company is positioning itself at the forefront of U.S. efforts to secure a domestic lithium supply and support the transition to clean energy.
Shares of ABAT rose 13.4% to $1.66 following the announcement, boosting the company’s market capitalization to $152 million.
