AMERICAN BATTERY FACTORY PRESIDENT AND CEO PAUL CHARLES HIGHLIGHTS ROAD TO AMERICAN ENERGY INDEPENDENCE AT GLOBAL CHAMBER® EVENT

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Sep 23, 2022, 15:17 ET

One solution: ABF's creation of the nation's first-ever network of lithium iron phosphate battery cell giga-factories

NEW YORK, Sept. 23, 2022 /PRNewswire/ -- Paul Charles, president and CEO of American Battery Factory Inc. (ABF), addressed The Global Chamber's New York City chapter on Thursday, Sept. 22 highlighting the importance of enabling energy independence for America, one of the most important issues facing the country today. The webinar was attended by CEOs, executives and top leaders from some of the 525 metro regions around the world that comprise Global Chamber®, which helps companies grow sustainably with less risk within and across metropolitan areas and country borders.

"What we are doing is quite unique: setting up a network of safe, lithium battery cell giga-factories and onshoring the entire supply chain to the U.S. over the next 36 months," said Charles. "We focus on three areas: fostering battery storage, supporting electric vehicles and supplying the U.S. military and government with 'Made-in-USA' products that meet national security requirements."

As highlighted by Charles, the U.S. power grid is failing, running at only 33% efficiency because of an overdependence on fossil fuels and the inability to transfer large amounts of electricity through power lines. The solution to this urgent national issue, said Charles, isn't to increase power production but rather to optimize the grid via impactful energy storage through batteries. He said that American Battery Factory plans to produce safe lithium iron phosphate battery cells that have a longer life span than other leading battery cells, avoid overheating and will be virtually maintenance free.

More than 77% of all battery manufacturing currently takes place in China and other parts of Asia, meaning the region controls raw material refinement and battery cell production for the entire world. As such, it is paramount that the U.S. gains a foothold in the production of this vital resource for both supply chain and national security issues, said Charles.

The Global Chamber® discussion was facilitated by Danielle Orcutt of Corpay and Bob Dunphy of Transworld Business Advisors, who each offered a unique perspective on the energy issue and moderated questions from attendees.

In introducing Charles, Global Chamber® New York City executive director Susan Assadi, stated: "Recent events surrounding our energy situation across the country are worrying. Recently, California warned citizens to limit their charging of electric vehicles because of the unstable energy grid just days after announcing a ban of gas-powered cars by 2035. Paul has been front and center in speaking with Congress and others about crucial energy grid issues and the importance of energy storage."

Charles also addressed energy storage featuring within the recently signed Inflation Reduction Act, the unique challenges of lithium mining, the fragile nature of today's battery cell supply chain, the significance of the rapidly growing market for lithium batteries and how businesses should be responding strategically to sourcing and refining raw materials for production.

ABF is experiencing sustained momentum, announcing in March the development of the first network of safe LFP cell giga-factories in the United States. As ABF develops its network of clean and green modular rapid construction factories near or on-site at pack integrators, its cell manufacturing facilities will have the ability to scale production output to any size the local workforce can sustain.

ABOUT AMERICAN BATTERY FACTORY
American Battery Factory Inc., a Lithium Iron Phosphate (LFP) battery cell 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 on American Battery Factory, please visit www.americanbatteryfactory.com.

ABOUT GLOBAL CHAMBER®
Global Chamber® is a growing and collaborating virtual community of CEOs, executives and leaders in 525 metro regions around the world - everywhere! We're the only chamber of commerce operating in hundreds of locations that helps exporters, importers and investors in every market segment connect to new clients, partners, projects and resources anywhere through a database of over 100 million trusted people via warm introductions, AI-match making, training, events and more. Global Chamber® is a registered trademark of Global Chamber, LLC. since 2014.

SOURCE American Battery Factory