American Battery Technology (ABAT) shares rallied as much 35% on Monday, after the company announced it had successfully won its appeal with the Department of Energy to fully reinstate a $115 million grant for its commercial-scale lithium refinery project.
The grant, originally awarded in October 2022 as a five-year commitment, was abruptly terminated last year on Oct. 9, as part of a sweeping DOE initiative that cancelled hundreds of federal awards.
