American Battery Technology Company (NASDAQ: ABAT) said it received approval from the U.S. Department of Commerce's Bureau of Industry and Security for a license to export up to $100 million of recycled black mass material, following the implementation of federal export controls on critical battery materials.

The Defense Priorities and Allocation System license allows the Reno, Nevada-based company to sell its recycled black mass under specified terms. Black mass contains critical minerals including lithium, nickel, cobalt, manganese, and graphite.

Chief Executive Ryan Melsert said the company is scaling its current recycling facility alongside a second facility supported by $150 million in competitive grants from the U.S. Department of Energy.

ABAT operates a commercial-scale battery recycling facility near Reno that has been in operation since 2023. The facility processes end-of-life batteries and manufacturing scrap into recovered materials including copper, aluminum, steel, lithium-rich intermediates, and black mass using internally developed technologies.

The company reported over 400% year-over-year revenue growth in its fiscal year 2026 financial results, according to the press release.