Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals”), a pioneer in
sustainable lithium-ion battery recycling, and 6K Energy, a leader
in the production of sustainable materials for lithium-ion
batteries, today announced plans to create the first truly
sustainable circular supply chain in the United States for the
critical minerals essential to domestic lithium battery
manufacturing. Aqua Metals and 6K Energy have signed a multi-part
memorandum of understanding (MOU) covering the scope of the
collaboration in the coming years.
This novel partnership marks a pivotal moment
for decarbonization and electrification in the U.S., further
enabling the nation’s ambitious goal of establishing a robust
domestic supply chain for clean energy technologies. The co-located
facility at 6K Energy’s PlusCAM site in Jackson, TN will be the
first sustainable circular supply producing low-carbon cathode
active materials (CAM) for new batteries using domestically sourced
end-of-life batteries and scrap materials from manufacturing
partners as feedstock.
“As the world grapples for control over the
critical minerals essential for lithium batteries, together with 6K
Energy we are building a resilient domestic supply chain for the
valuable metals that will power an electrified future,” said Steve
Cotton, President and CEO of Aqua Metals. “Through our partnership
we will be able to make the best use of these scarce resources,
recycling them back into the value chain by creating cathode
battery material from recycled content – strengthening U.S.
manufacturing capabilities and bolstering resilience to supply
chain disruptions as we accelerate the clean energy economy.”
The strategic partners’ plan outlines a future
joint venture to co-locate the full-scale lithium battery recycling
facility engineered and operated by Aqua Metals to supply 6K
Energy’s PlusCAM™ cathode manufacturing plant. The shared facility
will utilize Aqua Metals’ state-of-the-art Li AquaRefining™
sustainable recycling technology to convert spent batteries and
manufacturing scraps into the raw materials for 6K Energy’s
proprietary UniMelt® sustainable CAM manufacturing process –
eliminating tens of thousands of tons of carbon pollution and waste
from the battery supply chain each year. The MOU includes a
proposed supply agreement for recycled materials from Aqua Metals
to meet the critical mineral needs of the 13,000 tonnes-per-year
PlusCAM facility.
Aqua Metals’ patented AquaRefining technology
recovers critical metals from spent lithium batteries using
electricity in a closed loop, lowering emissions, and reducing
landfill waste by 95% compared to current battery recycling
processes. 6K Energy’s UniMelt process is the world’s first
full-scale microwave plasma production system, delivering
significantly lower emissions and reduced capital and operating
costs versus current cathode production methods.
Sam Trinch, Group President of 6K Energy, added,
“Our collaboration with Aqua Metals will create Li-ion battery
cathode materials at production scales with recycled critical
minerals. Together, we are not only advancing the low-carbon
economy but also fostering domestic job growth, technological
advancement, and a sustainable footprint in the global lithium
battery market, building a robust supply chain for the technologies
critical to combating climate change at a lower cost than
China.”
PlusCAM will be the world’s first UniMelt plasma
cathode manufacturing plant, providing low cost, ultra-sustainable
production of battery material in the U.S. 6K Energy has raised
more than $350M, including a $50M grant from the Department of
Energy, to fund the buildout and expansion of PlusCAM
facilities.
Aqua Metals currently operates the first
sustainable lithium battery recycling facility at its Li
AquaRefining pilot and is also developing a five-acre, 10,000
tonnes-per-year clean metals recycling campus nearby in the
Tahoe-Reno Industrial Center – enough critical material for 50,000
EV batteries each year. Over a decade of battery recycling
innovation, Aqua Metals has raised $275 million to support
commercialization of its innovative technology and is applying for
government-backed loans and grants to further accelerate
commercial-scale deployments.
About 6K
With sustainability at its core, 6K has
developed UniMelt®, a proprietary advanced microwave plasma
production system, to transform engineered materials into
revolutionary products that advance industries across additive
manufacturing, renewable energy, aerospace, consumer electronics,
and more. 6K represents 6000 degrees, both the temperature of the
operation of UniMelt®, the world’s only microwave production scale
plasma system and the temperature of the sun’s surface. 6K was
founded in North Andover, Massachusetts.
The 6K Energy division is focused on the
production of low-cost, sustainable, and domestically produced
battery material accelerating the pace of battery production and
adoption of electric vehicles. The 6K Additive division specializes
in sustainably sourced, AM metal powders production and
reclamation, using a proprietary milling and cleaning process that
ensures contamination-free, high-quality powders. For more
information, visit www.6K-energy.com
About Aqua Metals
Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing
metals recycling with its patented AquaRefining™ technology. The
company is pioneering a sustainable recycling solution for
materials strategic to energy storage and electric vehicle
manufacturing supply chains. AquaRefining™ is a low-emissions,
closed-loop recycling technology that replaces polluting furnaces
and hazardous chemicals with electricity-powered electroplating to
recover valuable metals and materials from spent batteries with
higher purity, lower emissions, and minimal waste. Aqua Metals is
based in Reno, NV and operates the first sustainable lithium
battery recycling facility at the company’s Innovation Center in
the Tahoe-Reno Industrial Center.
To learn more, please visit
www.aquametals.com
Aqua Metals Social Media
Aqua Metals has used, and intends to continue
using, its investor relations website (https://ir.aquametals.com),
in addition to its Twitter, LinkedIn and YouTube accounts
at https://twitter.com/AquaMetalsInc (@AquaMetalsInc),
https://www.linkedin.com/company/aqua-metals-limited and
https://www.youtube.com/@AquaMetals respectively, as means of
disclosing material non-public information and for complying with
its disclosure obligations under Regulation FD.
Safe Harbor
This press release contains forward-looking
statements concerning Aqua Metals, Inc. Forward-looking statements
include, but are not limited to, our plans, objectives,
expectations and intentions and other statements that contain words
such as "expects," "contemplates," "anticipates," "plans,"
"intends," "believes," "estimates," "potential" and variations of
such words or similar expressions that convey the uncertainty of
future events or outcomes, or that do not relate to historical
matters. The forward-looking statements in this press release
include our ability to recycle lithium-ion batteries, the expected
benefits of recycling lithium-ion batteries our expectations for
the benefits of our collaboration with 6K, our joint development
with 6K of an economically viable technology to convert high purity
metals into metal nitrate solutions, and our ability to enter into
definitive agreements with 6K. Those forward-looking statements
involve known and unknown risks, uncertainties, and other factors
that could cause actual results to differ materially. Among those
factors are: (1) the risk that Aqua Metals and 6K Energy may not
successfully conclude their ongoing joint development of an
economically viable technology to convert high purity metals into
metal nitrate solutions, (2) Aqua Metals may not be able to enter
into definitive agreements with 6K regarding the proposed joint
venture, (3) even if the companies are to conclude a definitive
agreement, the risk that Aqua Metals may not achieve the expected
benefits form such relationship; and (4) those other risks
disclosed in the section "Risk Factors" included in our Quarterly
Report on Form 10-Q filed on August 9, 2023. Aqua Metals cautions
readers not to place undue reliance on any forward-looking
statements. The Company does not undertake and specifically
disclaims any obligation to update or revise such statements to
reflect new circumstances or unanticipated events as they occur,
except as required by law.
Contact Information:
Aqua Metals MediaContact:
Jennifer Johnson Avril, Warner CommunicationsPhone: +1
917-982-9012Jennifer@WarnerPR.com
6K Energy MediaContact: Bruce
Bradshaw, 6K EnergyPhone: +1
603-689-4597Bruce.Bradshaw@6Kinc.com
Aqua Metals Investor
RelationsContacts: Bob Meyers & Rob Fink, FNK IRPhone:
+1 646-878-9204AQMS@fnkir.com
Source: Aqua Metals and 6K
Energy
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