Was up most of the night reading through 600 pages of legal documents on the Ascend Elements bankruptcy trying to sort out the fate of the Covington, Georgia plant, the one that is operational.
A $5 million bid for an operational facility seems like a no-brainer. Will the potential legal issues that come along with it ultimately deter companies like ABTC from getting involved?
It would cost them $5 million plus and then based on the platforms at least $50 million or more to convert it, and that does not include the utility upgrades that will be needed. The location is already bottlenecked, per the filings, due to utilities, and ABAT’s platform is a lot more power hungry.
There is also the fact they are walking into a site without any real incentives, something they are still finalizing in South Carolina. The only way this works is if they can rework the DOE grant for that site. If they can do that then I could see it working.
The draw back if they were able to figure out how to use the grant, it is a small site, large enough for black mass production and that is really it, it is around the footprint of the current Fernley site, what is there now not what was planned. This would severely limit what they could install, which means no battery grade.
Remember the reason all of these companies are falling is incompetent leadership, but more than that they overreached. If ABAT cannot piece meal this then I would rather not see them even try.
A $5 million bid for an operational facility seems like a no-brainer. Will the potential legal issues that come along with it ultimately deter companies like ABTC from getting involved?
It would cost them $5 million plus and then based on the platforms at least $50 million or more to convert it, and that does not include the utility upgrades that will be needed. The location is already bottlenecked, per the filings, due to utilities, and ABAT’s platform is a lot more power hungry.
There is also the fact they are walking into a site without any real incentives, something they are still finalizing in South Carolina. The only way this works is if they can rework the DOE grant for that site. If they can do that then I could see it working.
The draw back if they were able to figure out how to use the grant, it is a small site, large enough for black mass production and that is really it, it is around the footprint of the current Fernley site, what is there now not what was planned. This would severely limit what they could install, which means no battery grade.
Remember the reason all of these companies are falling is incompetent leadership, but more than that they overreached. If ABAT cannot piece meal this then I would rather not see them even try.