American Battery stock is on a roller coaster ride since Dec. 2020.
Things are changing and changing rapidly as we go on to adopt modern technologies. With this, the companies that are based on future tech are in the spotlight for the investors. American Battery Metals (ABML) which is traded in over-the-counter (OTC) markets has largely gained over the past couple of months.
American Battery shares have soared over 1150% since Dec. 2020 and are continuing the bullish run this month. Lately, the company was selected for a grant of $4.5 million to be given by the U.S. Department of Energy’s Advanced Manufacturing Office.
The new US government administration under Joe Biden has come up with a serious mission. Biden backs new technological improvements and is an enthusiast for the global green environment.
On Jan. 25, the President vowed to replace the government’s fleet with EVs. Biden is very much focused on the clean-energy. Reportedly, around 650,000 vehicles would be replaced with electric models.
As per Reuters, Biden stated:
“The federal government also owns an enormous fleet of vehicles, which we’re going to replace with clean electric vehicles made right here in America made by American workers.”
American Battery Metals’ (ABML) market cap is approaching $2 billion as the demand for EV batteries continues to rise. The company is into the new ecosystem of EVs that aims to change the global environment.
ABML develops and produces electric batteries to meet the demand of the growing EV supply chain. The company focuses on lithium-ion battery manufacturing and has an integrated recycling facility. The company has a long-term vision as it’s part of the broader EV market that is going to boom in the next few years.
Furthermore, the company would trade under the official name of American Battery Metals Corp.with the symbol (ABML), unless it attains regulatory and state approval.
Recently, the company announced that it is set to receive a grant of $4.5 million from the U.S. Department of Energy’s Advanced Manufacturing Office. This grant is part of DOE’s effort to reduce the US’s dependence on critical materials by helping American companies.
The company is now focusing on its proposed 3-year project that would change its first-of-kind system design from bench-scale validations. This project would make transitions in construction, commissioning, and operation of a multi-ton per day integrated system. The integrated battery system receives lithium-rich claystone material, which is its main part.
American Battery Metals (ABML) has grown excessively but the real value is based on market growth. The CEO of AMBL, Doug Cole stated that this $4.5 million grant would make the company debt-free. Moreover, they expect the company to be listed soon. So, in the long-term, American Battery seems a big fish.