Connect with us

Technology

American Battery Technology Company Announces Commercial Transaction for Bulk Purchase of Recycled Black Mass Material by Domestic Strategic Customer

Published

on

American Battery Technology Company (ABTC) achieves major commercial milestone for its internally-developed, first-of-kind, commercial-scale battery recycling facility by entering into a binding purchase agreement for accumulated volume of its recycled black mass material to a domestic strategic customer

Ensuring recycled black mass feeds the North American circular battery metals supply chain, as opposed to being sold to the Asian refining market, ABTC strategically shifts to direct sale of its products, as opposed to working indirectly through marketing agents

Black mass material recycled from lithium-ion batteries contains metals such as lithium, nickel, and cobalt that can be used in the manufacturing of new lithium-ion batteries needed to power consumer electronics, stationary grid storage systems, and electric vehicles

RENO, Nev., July 10, 2024 /PRNewswire/ — American Battery Technology Company (NASDAQ: ABAT), an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, achieved a major commercial milestone by entering into a direct binding agreement for the purchase of its accumulated recycled black mass material by a domestic strategic customer from its first-of-kind lithium-ion battery recycling facility.

American Battery Technology Company began operations of its commercial lithium-ion battery recycling plant in October 2023. The ABTC recycling facility utilizes its first-of-kind integrated set of recycling processes based on a strategic de-manufacturing approach that utilizes a deconstruction process combined with a targeted selective hydrometallurgical process. This system is agnostic to feedstock form factors and can process lithium-ion batteries and manufacturing scrap of a variety of sizes and shapes, and with a wide range of internal chemistries. The first phase of the recycling process produces recycled products that include copper, aluminum, steel, a lithium intermediate, and a black mass intermediate material, and the integrated second phase further refines these materials into battery grade nickel sulfate, cobalt sulfate, manganese sulfate, and lithium hydroxide. The second phase of this integrated recycling system is currently being implemented.

The company previously considered marketing its black mass intermediate material throughout the world, but the company’s strategic priority is to sell its recycled products domestically to ensure these products facilitate the establishment of a North American closed-loop circular battery metals supply chain.

“We are proud to have manufactured bulk quantities of high nickel and cobalt content recycled black mass material at our commercial-scale, lithium-ion battery recycling facility,” stated ABTC CEO Ryan Melsert. “In accordance with our corporate principles, we strongly prefer to sell our recycled materials into the North American battery supply chain in order to facilitate the establishment of closed-loop domestic operations, as opposed to exporting these critical minerals abroad. We also are proud to have established strong relationships with domestic customers, that allow us to sell these recycled products directly as opposed to indirectly through brokers.”

Bringing first-of-kind technologies to market, ABTC’s battery recycling and primary battery metals commercialization efforts support the buildout of a domestically-sourced battery metals circular supply chain.

About American Battery Technology Company 
American Battery Technology Company (ABTC), headquartered in Reno, Nevada, has pioneered first-of-kind technologies to unlock domestically manufactured and recycled battery metals critically needed to help meet the significant demand from the electric vehicle, stationary storage, and consumer electronics industries. Committed to a circular supply chain for battery metals, ABTC works to continually innovate and master new battery metals technologies that power a global transition to electrification and the future of sustainable energy.

Forward-Looking Statements  
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are “forward-looking statements.” Although the American Battery Technology Company’s (the “Company”) management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, risks and uncertainties related to the Company’s ability to continue as a going concern; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended June 30, 2023. The Company assumes no obligation to update any of the information contained or referenced in this press release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/american-battery-technology-company-announces-commercial-transaction-for-bulk-purchase-of-recycled-black-mass-material-by-domestic-strategic-customer-302194097.html

SOURCE American Battery Technology Company

Continue Reading

Technology

Ascendion Expands AI Advisory Community with Four Global Business and Technology Leaders

Published

on

By

Former Global CTO of Banco Santander, former Group CIO of Currys, former CEO of IBPAP, and former Microsoft CVP and CTO of AI join the advisory community

Advisors will provide guidance on AAVA platform innovation, AI strategy, C-suite alignment, and enterprise adoption across Asia-Pacific, Europe, North America, and the UK

The growing community of advisors will bring practitioner perspective closer to Ascendion as enterprises move AI from experimentation to governed, production-scale outcomes

BASKING RIDGE, N.J., Oct. 27, 2026 /PRNewswire/ — Ascendion, an AI-native software engineering company, today announced the appointment of four global business and technology leaders to its AI Advisory Community: Andy Gamble, Jack Madrid, Julieta Ross, Ph.D., and Joseph Sirosh, Ph.D. 

The advisors bring perspectives rarely found in one group: executives who answered to Boards, regulators, and C-suites for what technology actually delivered; a builder of AI and data platforms at global scale; and a leader who shaped one of the world’s largest technology-services and talent ecosystems. Their experience spans banking, high-tech, media, and retail. Each will work directly with Ascendion’s regional and engineering leaders, so their counsel reaches the decisions it is meant to shape. 

“We are changing how software gets built. Enterprise leaders have moved past experiments. They want AI that delivers outcomes boards can measure and risk they can manage. Andy, Jack, Julieta, and Joseph have the experience and know where transformation succeeds. They will challenge our thinking, raise our ambition, and help us navigate a period of intense — and exciting — change,” said Karthik Krishnamurthy, CEO, Ascendion. 

Each advisor will map to a different part of the business, strengthening Ascendion’s alignment with leadership communities across the globe. 

Julieta Ross, Ph.D., former Global CTO of Banco Santander, brings two decades of leading technology inside global banks, along with public-company board experience. She will work with Ascendion’s leadership on executive relationships, go-to-market strategy, and growth, and will help the company meet the governance, regulatory, and risk expectations that banking and financial services leaders place on AI. Andy Gamble, former Group CIO of Currys plc, has spent nearly three decades as a technology buyer and transformation leader across consumer electronics, industrial, and retail businesses. He will advise Ascendion’s work across Europe and the UK, with a focus on consumer goods, manufacturing, and retail, and will share what executive teams and Boards expect from a technology partner. Joseph Sirosh, Ph.D., former Microsoft CVP and CTO of AI, has spent his career building and scaling machine learning platforms in the high-tech industry. He will advise Ascendion’s engineering leadership on the evolution of AAVA and its broader platform strategy as AAVA becomes an orchestration and harness layer for enterprise AI. Jack Madrid, former President and CEO of IBPAP, spent five years leading the industry association behind one of the world’s largest technology and business-services ecosystems, centered in the Philippines. He brings robust experience working across industries, including banking, high-tech, and media, and will advise Ascendion on Asia-Pacific markets and on how AI is reshaping global delivery, skills, and workforce models. 

Together, the advisors give Ascendion an outside perspective on the full spectrum of enterprise AI, from agentic platform strategy and product engineering to industry alignment and delivery. They will add capacity to Ascendion’s ongoing work on AI governance, helping ensure trusted impact from AI-native software engineering, and their practice-based insight will inform how Ascendion applies its Engineering to the Power of AI™ approach to commercial models, platform design, service execution, and workforce development. 

About Ascendion

Ascendion is a global AI-native software engineering company delivering trusted business outcomes – capital unlock, innovation velocity, lower risk – to 250+ enterprise clients. The company delivers business outcomes at scale by combining expert engineers, AI agents, and AAVA, Ascendion’s agentic AI platform. Together, they design, engineer, and operate production-ready software that improves everyday work and life. Learn more at www.ascendion.com.

Engineering to the Power of AI™, Engineering to Elevate Life™, and AAVA™ are trademarks or service marks of Ascendion. AAVA™ is pending registration. Unauthorized use is strictly prohibited.

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/ascendion-expands-ai-advisory-community-with-four-global-business-and-technology-leaders-302921368.html

Continue Reading

Technology

AvePoint Set to Join S&P SmallCap 600

Published

on

By

NEW YORK, Oct. 27, 2026 /PRNewswire/ — AvePoint Inc. (NASD: AVPT) will replace LXP Industrial Trust (NYSE: LXP) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, November 2. Brookfield Asset Management Ltd. and Canada Pension Plan Investment Board are acquiring LXP Industrial Trust in a deal expected to close soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date

Index Name

Action

Company Name

Ticker

GICS Sector

Nov 2, 2026

S&P SmallCap 600

Addition

AvePoint

AVPT

Information Technology

Nov 2, 2026

S&P SmallCap 600

Deletion

LXP Industrial Trust

LXP

Real Estate

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/. 

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

View original content:https://www.prnewswire.com/news-releases/avepoint-set-to-join-sp-smallcap-600-302921327.html

SOURCE S&P Dow Jones Indices

Continue Reading

Technology

Archera Surpasses $5.6 Billion in Cloud and AI Spend Under Management, Closes Series C Led by Pivot Investment Partners, and Expands Insurance-Backed Cloud Commitments

Published

on

By

The round will help Archera expand its guaranteed cloud commitments, bringing insurance-backed financial protection to companies navigating unpredictable AI and cloud spending. The company has delivered more than $700 million in customer savings and now manages approximately $5.6 billion in annual cloud and AI spend.

BELLEVUE, Wash., Oct. 27, 2026 /PRNewswire/ — As artificial intelligence makes cloud spending harder to predict, companies face an increasingly expensive choice: commit to long-term cloud and AI contracts to unlock significant discounts or preserve flexibility and leave savings on the table. Archera has raised a $15 million Series C to expand its Guaranteed Commitments and change that equation.

The cloud economics company today announced it closed its Series C funding round, led by Pivot Investment Partners, with participation from existing investors including HighSage Ventures. The financing brings Archera’s total funding to $38.3 million. It will support the expansion of Archera’s Guaranteed Commitments and its suite of free cloud cost tools, including its FinOps Agent and MCP.

Insurance-backed financial protection is central to Archera’s next phase of growth. Archera purchased a policy on a surplus lines basis from Crum & Forster Specialty Insurance Company to back its guarantee. This model helps businesses pursue cloud commitment savings while managing the financial risk of usage changes.

The company has delivered more than $700 million in savings to over 2,200 organizations, including PubNub, Art.com, and Astronomer. The thesis behind Archera is simple: companies shouldn’t have to predict AI’s future to commit and save money on today’s infrastructure.

Why Cloud and AI Commitments Need to Change

Cloud providers reward customers who commit to spending over one- to three-year periods with substantial discounts and access to capacity. Historically, those commitments have helped businesses reduce infrastructure costs. But AI is changing the risk and economics of that decision.

A new model launch can multiply GPU spending in months. A more efficient model, a shift in architecture, or a move to a different service can reduce it just as quickly. Long-term commitments that once looked financially sound can become expensive liabilities.

Companies are left choosing between overcommitting and risking unused spend, or undercommitting and missing out on available discounts. Many choose the latter, sacrificing potential savings to preserve flexibility.

Archera believes that the trade-off is unnecessary. Its Guaranteed Commitments provide resource-level cloud and AI discounts with terms as short as 30 days. If usage declines and a covered commitment goes unused, Archera covers the cost under the terms of its guarantee.

The result is a different way to approach cloud purchasing. Businesses can pursue deeper discounts and unlock capacity otherwise gated behind a commitment, without bearing the entire financial consequence when actual usage diverges from forecasts.

Turning Cloud Optimization Into a Financial Product

Traditional cloud cost management tools provide visibility, recommendations, automation, and forecasting, but they can’t eliminate the financial risk of unused commitments. Archera combines its free FinOps platform and Agent with a financial guarantee that addresses inaccurate forecasts.

“Every tool in this market is trying to forecast your cloud usage a little better. We think that’s the wrong bet,” said Aran Khanna, co-founder and CEO of Archera. “Nobody can forecast AI demand, not the customer, not the cloud provider. So instead of predicting it, we guarantee it, and we have purchased an insurance policy to back that guarantee. If covered usage drops, we address the unused commitment cost under the terms of our guarantee. That’s a new way to purchase cloud, not another dashboard, and it’s why we’ve been able to return $700 million to our customers.”

The approach positions cloud commitments as a financial risk decision, helping finance and engineering leaders manage budgets while adapting to changing technology.

Built for CFOs, CTOs, and the Teams Managing AI Costs

The approach addresses a growing challenge across finance and engineering: how to control infrastructure costs without constraining the business.

For CFOs: Capture commitment-level discounts while reducing exposure to eligible unused spend under the guarantee.For CTOs and engineering leaders: Preserve flexibility to adopt new AI models, change architectures, and scale workloads without letting past commitments dictate future decisions.For FinOps teams: Increase commitment coverage with a financial backstop when usage changes, without more back-and-forth with engineering teams to get perfect forecasts.For cloud partners and resellers: Give customers a differentiated way to pursue cloud savings that can be reinvested in new cloud services while managing commitment risk.

Archera’s platform connects to AWS, Microsoft Azure, or Google Cloud billing data in read-only mode and analyzes actual usage. It then recommends and automates the purchasing of both native commitments and Archera Guaranteed Commitments.

Customers can evaluate their potential savings before making any purchasing decision. Commitments remain in the customer’s own cloud account, preserving end-to-end control over cloud purchasing strategy.

Archera earns when customers save through its guaranteed commitments, aligning its commercial model with the outcomes customers seek.

Customers Are Rethinking the Commitment Model

For organizations accustomed to treating cloud commitments as a single, high-stakes decision, Archera offers a more flexible approach.

“Working with Archera meant rethinking commitments as a spectrum rather than a single, high-stakes decision,” said James Hamilton, VP of Operations and Controller at PubNub. “This was a big mind shift for us. We needed to think about how our commitments could be broken up into a spectrum of purchases versus a single one-time buy.”

That flexibility is particularly valuable as companies adopt AI workloads, where technology choices and resource requirements can shift faster than traditional budgeting cycles.

Instead of making one large bet on future usage, businesses can take a more measured approach while still securing meaningful discounts.

A Series C to Expand Insurance-Backed Cloud Purchasing

Archera has been operating profitably at scale. It raised a Series C to support larger guarantees, expand its reach, serve more customers, and upgrade the insurance policies backing its guarantee to serve larger global clients.

The company plans to use the capital in three ways:

Accelerate go-to-market efforts.Expand its global partner network across North America, Europe, the Middle East, Japan, and Latin America.Serve more teams focused on AI-driven workloads.

“Archera has built a capital-efficient and differentiated business at the intersection of cloud infrastructure and risk management,” said Dinkar Jetley, co-founder and managing partner at Pivot Investment Partners. “The team pairs a deep understanding of the cloud ecosystem with a rigorous approach to underwriting, and the result is a compelling value proposition that a fast-growing roster of customers relies on as their cloud spend scales. We are privileged to have led this Series C round and look forward to working closely with Aran and the management team in the years ahead.”

Built by People Who Understand Cloud Infrastructure

Aran and Nikhil Khanna founded Archera in 2019. Aran previously planned capacity for Azure’s core compute and database services at Microsoft and was a founding member of AWS’s deep learning team leading launches, including SageMaker, DeepLens, and the Neuron SDK, behind Amazon’s Trainium and Inferentia AI chips.

His research on deep learning model efficiency has been cited more than 1,900 times, and he serves on the FinOps Foundation governing board.

As AI transforms infrastructure economics, Archera aims to make cloud savings more accessible without forcing businesses to assume unnecessary financial risk.

To explore potential savings, request a free assessment at Archera.ai.

Free savings assessment: https://app.archera.ai/savings-estimate?utm_source=forbes&utm_medium=referral&utm_campaign=series-c-2026

Name: Sarah
Email Address: shiara@archera.ai
Phone Number: +13018255007

View original content to download multimedia:https://www.prnewswire.com/news-releases/archera-surpasses-5-6-billion-in-cloud-and-ai-spend-under-management-closes-series-c-led-by-pivot-investment-partners-and-expands-insurance-backed-cloud-commitments-302921341.html

SOURCE Archera

Continue Reading

Trending