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American Battery Technology Company (ABTC) is positioned to acquire substantial assets from insolvent Lithion Technologies in Quebec. ABTC, located in Nevada, has established a lithium-ion battery recycling plant in Reno and secured $144 million from the U.S.

Department of Energy for a second facility. Lithion, which has received nearly $30 million from the Quebec government, is currently under creditor protection. KPMG, overseeing the case, is expected to report to the Quebec Superior Court soon.

A proposal to sustain Lithion's operations in Quebec is pending but needs government backing. The battery recycling industry is projected to reach $70 billion annually by 2040, highlighting the urgency for local recycling capabilities.