Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”), a leading innovator in lead battery metal recycling with its AquaRefining™ technology, is expanding into lithium-ion battery recycling by investing in LINICO Corporation (“LiNiCo”).
Previously, the Company and LiNiCo reached a lease-to-buy agreement for the Aqua Metals’ AquaRefining facility. Aqua Metals has committed a $2 million investment, paid in Aqua Metals shares, for a 10% ownership in LiNiCo, as part of its strategy to strengthen growth by potentially applying AquaRefining™ intellectual property to lithium-ion battery recycling while meeting its lead recycling commercial guidance.
Aqua Metals and three other innovative companies plan to form an eco-network that intends to advance best-in-class technologies to recycle lithium-ion batteries at volume, both economically and sustainably.
The other proposed members of the network include Green Li-ion, Pte, Ltd. (“Green Li-ion”), whose mission is to create a lithium-ion battery recycling technology designed to uniquely generate high-purity, high-value cathode ready material; LiNiCo, a newly capitalized cleantech aggregator focused on closed-loop lithium-ion battery recycling; and Comstock Mining Inc. (NYSE: LODE) (“Comstock”), which is engaged in the systemic valorization of critical metals and announced its majority investment in LiNiCo.
LiNiCo is an investor in Green Li-ion, providing Aqua Metals with an indirect investment in Green Li-ion.
Michael Vogel, President, CEO and Founder of LiNiCo:
We are very pleased to work with Aqua Metals through our lease-to-buy agreement for the McCarran recycling facility, Aqua Metals’ investment in LiNiCo, and our participation in the eco-network
“The shift to a sustainable clean energy economy is a global imperative, and our goal is to ensure that the recycling piece of the equation doesn’t undermine the positive potential of sustainable clean energy systems and storage.”
“The eco-network envisions pooling resources and adopting complementary technologies to address the challenge of building a closed-loop sustainable clean energy economy.”
Steve Cotton, President and CEO of Aqua Metals:
“We believe a collaboration strategy with innovative companies that have multi-disciplinary backgrounds in metals, mining, high volume throughput, and hydrometallurgy is the best approach to solving the sustainability challenge of metals recycling, especially with lithium-ion batteries.
“Forming an eco-network is an important step in our strategy for exploring the expansion of AquaRefining technology to other applications,”
“According to Yole Développement, there will be about 705,000 tons of end-of-life lithium-ion batteries by 2025, and by 2040 they will hit 9 million tons per year.”
“Aqua Metals recognizes this opportunity and intends to apply the same capital light business model we are employing for lead recycling to the challenge of lithium-ion recycling by developing an offering of equipment supply, services, and licensing to lithium-ion battery recyclers globally.”
“Our expertise in hydrometallurgical lead recycling will continue to be the foundation of our strategy to further commercialize AquaRefining technologies.”
Aqua Metals Invests in LINICO, a Cleantech Lithium-Ion Battery Recycling Innovator, Mccarran Nev., February 17, 2021