ABML, which is changing its name to American Battery Technology Company (ABTC), said the two additional water rights total 21.635 acres (87,500 sq m2), and will provide the plant with water security.

"The completion of this hard asset acquisition gives certainty that the water needed for operations of our planned 20,000 t/yr lithium-ion battery recycling pilot plant is ensured," stated Scott Jolcover, American Battery Technology Company Chief Resources Officer.

The additional water rights for the ABTC pilot plant in Fernley, Nevada bring the total water rights acquired and closed to-date to 116.635 acre feet.

The company announced last August the groundbreaking of its lithium-ion battery recycling facility in Fernley.