They can still re appeal and the cut for funding isn’t just this company, it’s across the sector. This is just temporary pull back and profit taking. Give it about a month and it’ll be back up for November. It’s so bigger companies can enter because they have the resources to continue operations and time to fix any paperwork for funds.
DOE grant terminated (Oct 9): ABAT disclosed in an 8-K that the U.S. DOE terminated its Assistance Agreement for a ~$115.5M lithium hydroxide project (DOE share ~$57.7M; company share ~$57.7M). ABAT says it has appealed and intends to proceed with the project regardless of appeal outcome.
Stock Titan
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Context: broad DOE cuts: DOE recently announced a mass termination of awards across hundreds of projects—this was not unique to ABAT.
The Department of Energy's Energy.gov
Clean Air Task Force
Countervailing progress: Two days earlier, ABAT said it completed all required NEPA baseline studies for the Tonopah Flats Lithium Project, a key threshold that enables formal federal review/permitting to begin. Shares had rallied on that milestone before the termination headline.
Plug Power (PLUG) and QuantumScape (QS) had similar DOE grant turbulence; both rebounded months later after private financing or validation.
Lithium Americas (LAC) also faced delays but gained once its Thacker Pass permitting cleared