American Battery receives LOI from EXIM Bank for $900M financing

American Battery (ABAT) Technology has received a Letter of Interest from the Export-Import Bank of the United States for $900 million in financing to support the construction of American Battery Technology Company’s commercial-scale lithium mine and claystone-to-lithium hydroxide refinery near Tonopah, Nevada. ABTC’s critical mineral lithium mine and refinery project is strongly aligned with EXIM’s “Make More in America” initiative as well as its “China and Transformational Export Program,” both of which provide beneficial financing terms for U.S. companies facing competition from the People’s Republic of China to ensure the United States leads in certain critical export areas, including the domestic manufacturing of critical minerals. The issuance of this LOI is aligned with the Executive Order from March 20, 2025 titled “Immediate Measures to Increase American Mineral Production” which directs federal agencies, including EXIM, to unlock permitting, funding, and offtake agreements for domestic critical mineral manufacturing facilities. The Executive Order includes near-term actions to be determined and implemented by the agencies to fast-track permits, mobilize capital for mineral producers, and create offtake agreements for strategic stockpiling for minerals critical to the United States’ defense, technology, and energy.