Aqua Metals Achieves Key Milestones in Sustainable Recycling

Aqua Metals' Innovative Steps in Battery Recycling

Aqua Metals, Inc. (NASDAQ: AQMS) has taken the spotlight in the realm of sustainable lithium battery recycling with its recent operational achievements at its pilot facility. As an innovator in this critical sector, the company has showcased the incredible potential of its Li AquaRefining™ process, which offers effective and environmentally friendly solutions for battery recycling.

Operational Breakthroughs

During a recent pilot campaign, Aqua Metals demonstrated its capacity for multi-week continuous operations. This initiative highlights the company's commitment to advancing the recycling of critical minerals vital for battery production. Key outcomes include:

Exceptional Recovery Rates

The pilot campaign achieved impressive outcomes, such as recovery rates exceeding 99% for lithium, cobalt, and nickel sourced from black mass. This is accomplished through Aqua Metals' innovative leaching process and the use of 100% recycled solvent. This method not only reduces recycling costs but also significantly minimizes waste, showcasing a robust model for sustainable practices.

Production of Battery-Grade Materials

A notable highlight from December was the production of over 600 pounds of battery-grade lithium carbonate. Aqua Metals has also successfully improved the recovery process for nickel and cobalt. Nickel is being recovered at purity levels surpassing 96.5%, while cobalt purity exceeds 99%. With the strategic design of the Sierra ARC facility, the company aims to ensure consistent production of battery-grade metals.

Enhanced Efficiency and Control

The pilot facility experienced operational enhancements, with advanced process controls that boosted throughput and efficiency. These improvements are essential for scaling operations to a commercial level efficiently. The facility operated continuously for three weeks, achieving more than 90% uptime, a remarkable feat in industrial recycling.

Financial Position and Long-Term Vision

To bolster its strategic initiatives, Aqua Metals has secured a $1.5 million bridge loan. Over half of this loan was sourced from management and board members, underscoring their confidence in the company's vision and potential. This funding is crucial as Aqua Metals navigates ongoing due diligence and plans for long-term financing solutions.

Plans for Future Growth

This financial support will facilitate advancements in securing a definitive agreement for long-term financing, anticipated to align with a projected resolution in the near future. The bridge loan is designed to position Aqua Metals optimally for the construction of the Sierra ARC commercial facility, driving future growth and operational capacity.

Commitment to Sustainable Practices

Aqua Metals is wholeheartedly dedicated to providing sustainably recycled critical minerals. As demand for electric vehicle and clean energy technology escalates, the company's innovative efforts aim to meet these needs effectively. Further updates regarding financing and partnerships are expected soon.

Frequently Asked Questions

What is Aqua Metals' main focus?

Aqua Metals primarily focuses on sustainable lithium battery recycling through its proprietary Li AquaRefining™ process.

What recent operational milestones has Aqua Metals achieved?

The company has achieved over 99% recovery rates for key minerals, produced significant quantities of battery-grade materials, and enhanced operational efficiency.

How is Aqua Metals supporting its long-term goals?

Aqua Metals secured a $1.5 million bridge loan, with substantial backing from its management team, to advance its strategic initiatives and operations.

What is the significance of the Sierra ARC facility?

The Sierra ARC facility is crucial for Aqua Metals' plans to scale operations and increase capacity for sustainable battery recycling.

When can we expect updates from Aqua Metals?

Aqua Metals anticipates providing updates on financing, operational progress, and partnerships in the near future.

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