Aqua Metals (NASDAQ: AQMS) and 6K Energy announced the signing of a
strategic supply agreement today, establishing North America's
first sustainable circular supply chain for the critical minerals
essential for manufacturing lithium-ion batteries. Aqua Metals will
deliver sustainably recycled battery materials from its Sierra ARC
facility in Reno, NV for 6K Energy to manufacture cathode active
material (CAM) with a low carbon footprint at its PlusCAM™ facility
in Jackson, TN.
This supply agreement marks a pioneering step in
building North American battery manufacturing capacity that will
qualify for domestic content incentives under the Inflation
Reduction Act, aligning with the United States’ efforts to expand
manufacturing capabilities, establish resilient supply chains, and
reduce carbon emissions. Based on today’s metals prices, the
materials supplied under this off-take agreement have an estimated
value of more than $50 million annually once 6K Energy’s PlusCAM™
and Aqua Metals’ Sierra ARC facilities reach capacity.
Steve Cotton, President and CEO of Aqua Metals,
emphasized the transformative nature of this collaboration: "Our
strategic agreement with 6K Energy represents a pivotal moment in
our mission to build a more sustainable battery ecosystem from the
ground up here in North America. Together, we are demonstrating the
viability and economic benefits of closed-loop recycling for
critical battery metals and laying the foundation for the US to
claim leadership in this rapidly accelerating global industry."
Starting in 2024, Aqua Metals will supply 6K
Energy with sustainably recycled critical minerals, ramping up to
provide 30% of the nickel and lithium carbonate needed for 6K
Energy's PlusCAM facility. The commitment to utilize up to 30%
recycled feedstock presents a unique value proposition, allowing EV
and lithium battery manufacturers to benefit from low-carbon,
low-cost, and domestically produced cathode materials for the first
time.
6K Energy, leveraging its UniMelt® manufacturing
process, stands at the forefront of low-carbon battery material
production. "This agreement extends beyond a supply contract; it's
a partnership aimed at redefining industry standards for
environmental responsibility and cost-efficiency in battery
material production. 6K Energy will be the first in North America
to incorporate large quantities of sustainably recycled metals into
our advanced battery materials using our low-cost, low-carbon
footprint CAM production technology," stated Sam Trinch, President
of 6K Energy.
As the United States expands lithium battery
manufacturing capacity to nearly one terawatt-hour by 2030, the
alliance between Aqua Metals and 6K Energy aims to establish North
America’s only sustainable closed-loop supply chain for critical
battery materials. This first-of-its-kind collaboration addresses
the escalating demand for recycling manufacturing scrap and
end-of-life batteries, and firmly positions the companies at the
forefront of the movement towards a sustainable, resilient, and
economically viable battery manufacturing ecosystem in the US.
The core of Aqua Metals’ and 6K Energy's
position as pioneers of a sustainable supply chain lies in their
innovative, electrified processes. Both companies utilize
technologies that can be powered entirely by clean energy and have
a clear pathway to net-zero operations in the future. Each company
also eliminates the production of thousands of tonnes of sodium
sulfate waste through their patented processes—a byproduct that
traditional cathode production and recycling methods generate in
significant quantities.
By leveraging their unique, clean technologies,
Aqua Metals and 6K Energy are establishing a new standard for the
industry, demonstrating that a truly sustainable closed-loop
process for battery minerals is a vision for the future that is
being built today.
About 6K6K Inc. produces and
innovates UniMelt microwave plasma technology for the localized
production of critical materials. 6K’s UniMelt technology is
applied across a vast range of markets, from additive manufacturing
(6K Additive) and essential battery materials (6K Energy) to future
growth sectors (6K Next). UniMelt plasma creates a path for true
sustainability, reducing carbon emissions, lowering energy use, and
utilizing recycled content to create a circular economy—all while
lowering conversion costs and providing a secure, domestic supply
chain. UniMelt is industrially operational, at scale, today, with
our headquarters and Battery Center of Excellence in North Andover,
MA, a 6K Additive production facility in Burgettstown, PA, and a
full-scale PlusCAM battery material manufacturing plant in Jackson,
TN.
For more information, visit www.6Kinc.com
About Aqua MetalsAqua 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 MediaAqua
Metals has used, and intends to continue using, its investor
relations website (https://ir.aquametals.com), in addition to its
Twitter, Threads, LinkedIn and YouTube accounts at
https://twitter.com/AquaMetalsInc (@AquaMetalsInc),
https://www.threads.net/@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 HarborThis 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 from such relationship; and (4)
those other risks disclosed in the section "Risk Factors" included
in our Quarterly Report on Form 10-Q filed on November 8, 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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