A dramatic reshuffle on tech's fringes: EV battery funding revived while a crypto player collapses

We are witnessing the most significant overhaul on the fringes of the tech and infrastructure sectors. Capital is ruthlessly migrating away from over-leveraged narratives and toward businesses backed by real revenue or robust government contracts. I'm told the focus this week is on extreme contrasts—from a battery recycler unlocking a nine-figure federal grant to the total collapse of a crypto kiosk operator that is now liquidating its assets.

American Battery Technology (ABAT.US)

This lithium-ion battery recycling company just scored a monumental win. According to people familiar with the matter, American Battery Technology (ABAT.US) successfully appealed to the Department of Energy, reinstating a USD 115 million grant in June 2026 for its commercial-scale lithium refinery in Nevada. This funding will directly support the first phase of construction designed to produce 5,000 metric tons of battery-grade lithium hydroxide annually. Along with massive EPA cleanup approvals, this positions them well in the broader supply chain reorganization.

Howmet Aerospace (HWM.US)

Howmet Aerospace (HWM.US), a crucial supplier of aerospace and defense components, is seeing robust demand. Total revenue for Q1 2026 hit USD 2.31 billion, up 19% year-over-year. I'm told that following its USD 1.8 billion acquisition of CAM earlier in 2026, management has raised its full-year guidance. Despite shedding assets like its Savannah facility for USD 230 million, the underlying strength in its engine products and fastening systems remains highly resilient.

One Stop Systems (OSS.US)

This edge computing specialist has been on a tear. After securing an initial USD 8.4 million contract for signal surveillance servers from a major defense firm, One Stop Systems (OSS.US) is riding a wave of momentum. Following its Q1 2026 earnings report, the stock surged over 50% in a single day back in May. Now, I understand the company is slated to be added to the Russell 2000 index, which will likely bring a fresh injection of passive flows.

SES AI (SES.US)

Another battery player making quiet progress is SES AI (SES.US). According to sources close to the company's financials, SES recently posted record revenue and, for the first time, achieved a positive gross margin in its Q3 results. For a next-generation battery maker historically bogged down by heavy R&D costs, this is a vital survival signal that has helped the stock regain some lost ground recently.

Bitcoin Depot (BTMCQ.US)

At the opposite end of the spectrum, crypto ATM operator Bitcoin Depot (BTMCQ.US) is facing an absolute disaster. I'm told the company not only filed for Chapter 11 bankruptcy protection in May 2026, but by July, it had taken more than 9,000 kiosks offline and delisted from the Nasdaq. Filings reveal that Q1 preliminary revenue plunged 49%, and the company is battling lawsuits from multiple state attorneys general alleging over USD 30 million in machine-related fraud losses.

Also

• Roku (ROKU.US): The streaming platform is scrambling to optimize its ad inventory strategy as competition for living-room eyeballs intensifies.
• American Superconductor (AMSC.US): The power and wind grid player continues to position itself to capture spending in the ongoing grid modernization cycle.
• BlackSky Technology (BKSY.US): Armed with real-time geospatial intelligence, the company is aggressively targeting new, high-value government and defense contracts.
• Dropbox (DBX.US): The cloud storage veteran is quietly working to justify enterprise upgrades by deeply integrating AI productivity tools.
• Bitcoin Infrastructure Acqu (BIXI.US): The window for this blank-check company to find a viable crypto target is closing rapidly amid a punishing regulatory environment.

This article does not constitute investment advice.