AMERICAN BATTERY FACTORY DEVELOPING FIRST NETWORK OF LITHIUM-IRON PHOSPHATE BATTERY GIGA-FACTORIES IN UNITED STATES

AMERICAN FORK, Utah, March 9, 2022 /PRNewswire/ -- American Battery Factory Inc. (ABF) today announced it is developing the first-ever network of safe Lithium-Iron Phosphate battery (LFP) cell giga-factories in the United States. Lithium batteries and their raw materials are among the highest in-demand commodities on the energy market today. According to the National Blueprint for Lithium Batteries, the demand will increase 10 times over the next decade. 

"We talk a lot about generating renewable energy as a society, but not about how to store it," said Zhenfang "Jim" Ge, ABF Chairman of the Board. "Without batteries, moving to an entirely green energy economy is impossible. Each factory we build will create an estimated 300 to 1,000 quality jobs. As our network grows, we will help mitigate decades of U.S. manufacturing job losses resulting from the closure of nearly 66,000 U.S. manufacturing sites while eventually making it possible to move the country and the entire world to 100% renewable power."

ABF's goal of developing a domestic battery manufacturing ecosystem will be the key to making energy independence and renewable energy a reality for the United States while also creating domestic manufacturing jobs. Today, almost 80% of all LFP battery manufacturing takes place in China. And when combined with the worldwide pandemic-induced supply chain disruptions, the time has come for the United States to develop its own LFP battery supply network. U.S.-based LFP battery manufacturing will also play a crucial role in meeting federal and state government climate change initiatives and "Made-in-USA" national security requirements.

Several initiatives to meet the demand for "Made-in-the-USA" LFP battery cells are already underway. For example, ABF is in active dialogue with pack integrators, energy storage solution providers and other organizations to develop U.S.-based supply partnerships. Forthcoming agreements and the first ABF manufacturing site will be announced in the coming months. ABF continues to actively look for new factory sites across America. Examples of ABF LFP market segments include the following:

• Battery Energy Storage Systems (BESS) for grid/utilities, residential, small to medium enterprises (SME) and industrial/commercial applications (healthcare, telecommunications networks, emergency service applications, data centers, etc.)
• Selected electric vehicles including trucks, e-buses, trams, agricultural vehicles (e.g., tractors and mowers), recreational vehicles requiring auxiliary power, off-road vehicles, marine/water sports, e-bikes, wheelchairs, golf carts, sweepers, forklifts, scooters and heavy construction machinery
• U.S. military, government and defense contractors to sustain national security, reduce foreign dependency and fulfill "U.S.-Made" mandates

"Our vision is to make it possible for all individuals, neighborhoods, companies, utilities, states and sovereign entities to store and deploy the energy source of their choice through battery storage," said Paul Charles, President and Chief Executive Officer at ABF. "By manufacturing the safest and most eco-friendly batteries for a cleaner world, American Battery Factory is committed to making energy more independent and flexible based on the vast inventory of power being generated today. We created ABF to first accelerate the growth of the U.S. clean energy economy and empower consumers, businesses and government organizations to save money and move toward energy independence. Eventually, we plan to supply the world through our network of factories with the best and safest battery chemistry and technology available."

ABF will manufacture enhanced high-performance prismatic LFP battery cells, which are the safest, longest-lasting, most reliable and eco-friendly batteries available today. ABF's LFP batteries will be designed to perform 10,000+ life cycles (full charge and discharge), which far exceeds the average performance of most other cobalt-based, lithium-ion batteries. While lead-acid batteries typically last two to three years, ABF batteries will have a 20–30-year life span. They require fewer replacements, thereby reducing waste, and are safer for the planet because they don't contain cobalt and nickel, which are among the most toxic and highly combustible ingredients found in most of today's electric vehicle batteries. Furthermore, ABF's batteries are ethically sourced as they don't include near conflict minerals, which in the case of cobalt is often mined using child labor.

ABF is developing a world-class workforce, strategic partner network and a uniquely qualified management team that has more than a century of combined experience in battery chemistry, technology, finance, entrepreneurship, law, supply chain management and manufacturing. 

The co-founders of ABF are Mr. Charles along with the co-founders of Lion Energy, where they incubated ABF within Lion Energy by leveraging 10 years of extensive energy storage experience. With Lion Energy earning about $100 million in battery storage solution sales last year and doubling growth each year, the founders of Lion Energy recognized the need to onshore a U.S.-based LFP battery supply chain. To accomplish this, they created ABF not only to be able to partner with a domestic battery cell supplier, but also to establish an independent manufacturer for all pack integrators and energy storage solution providers. The company's co-founders include ABF and Lion Energy Chairman Mr. Ge, ABF Chief Financial Officer and Lion Energy President Tyler Hortin, ABF Board Member and Lion Energy CEO Frank Davis, and ABF President and CEO Mr. Charles.

ABOUT AMERICAN BATTERY FACTORY
American Battery Factory Inc., a Lithium Iron Phosphate (LFP) battery manufacturer, is developing the first-ever network of safe LFP cell giga-factories in the United States. The company is dedicated to making energy independence and renewable energy a reality for the United States by creating a domestic battery supply chain. Along with creating domestic manufacturing jobs, ABF will play a crucial role in meeting federal and state government climate change initiatives and "Made-in-USA" national security requirements. For more information, please visit www.americanbatteryfactory.com

SOURCE American Battery Factory

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