Aqua Metals Joins $4.99 Million DOE Grant Project to Pioneer Domestic Critical Mineral Supply Chain
10 Maio 2024 - 9:10AM
Aqua Metals, Inc. (NASDAQ: AQMS), a pioneer in sustainable
lithium-ion battery recycling technology, is proud to announce its
collaboration in a significant U.S. Department of Energy (DOE)
grant project. As part of a consortium led by Pennsylvania State
University, Aqua Metals will play a crucial role in the $4.99
million initiative aimed at establishing a fully domestic supply
chain for critical minerals essential for modern technologies, from
electric vehicles to renewable energy systems.
The DOE-funded project, titled the Alliance for
Critical Mineral Extraction and Production from Coal-Based
Resources for Vitality Enhancement in Domestic Supply Chains
(ACME-REVIVE), seeks to innovate in the extraction and recovery of
rare earth elements and other critical materials from coal, coal
wastes, and coal by-products. This initiative aligns with national
goals to reduce reliance on foreign critical minerals, which are
vital for U.S. economic security and technological leadership.
Aqua Metals is set to assist in producing
battery-grade cobalt, manganese, nickel, and lithium generated from
Penn State's pilot-scale facility, which focuses on leveraging
domestic coal-based acid mine drainage. This aligns with Aqua
Metals’ mission to foster a sustainable and secure critical mineral
supply chain while contributing to environmental remediation
efforts.
Project Impact and VisionThis
collaboration not only underscores Aqua Metals’ innovative
capabilities in critical mineral technologies but also enhances the
Company’s involvement in national efforts to innovate within the
battery recycling sector. This strategic initiative will also
further demonstrate the ability of Aqua Metals’ patented
AquaRefiningTM technology to adapt to a wide array of feedstocks
when sustainably producing critical minerals – including both
recycling battery materials and refining virgin metals from ore and
waste.
"Our participation in the ACME-REVIVE project
exemplifies our commitment to sustainability and innovation," said
Steve Cotton, President and CEO of Aqua Metals. "By converting
waste into valuable resources, we are paving the way for a more
sustainable and secure future for critical mineral supply in the
U.S."
The project aims to remediate environmental
damage caused by acid mine drainage while extracting valuable
minerals. This approach cleans up legacy environmental issues and
also reduces the need for new mining operations, building a
circular economy.
A Sustainable Future for Critical
MineralsThe ACME-REVIVE project is a testament to the
potential of collaborative innovation in addressing critical
challenges at the intersection of environmental science and
material engineering. By focusing on sustainable extraction methods
and contributing to the domestic production of essential minerals,
Aqua Metals and its partners are setting new standards for the
industry.
"As we move forward, our work with Penn State
and other industry leaders will showcase the viability of sourcing
critical minerals from alternative and sustainable sources," added
Cotton. "This project will help position the United States as a
leader in the clean energy transition and support the nation’s
efforts to build a resilient and independent supply chain."
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 expectations for our pilot and
commercial-scale recycling plants, our ability to recycle
lithium-ion batteries and the expected benefits of recycling
lithium-ion batteries. 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 we may not be able to successfully
negotiate and conclude a definitive license agreement with Yulho or
a definitive pilot facility agreement with 6K, (2) even if we are
to conclude a definitive agreements with Yulho and 6K, the risk
that we may not achieve the expected benefits from such
relationships; (3) the risk that we may not be able to acquire the
funding necessary to develop our recently acquired five-acre
campus; (4) the risk that we may not be able to develop the
recycling facility on the five-acre campus within the expected time
or at all; (5) even if we are able to develop the recycling
facility, the risk that we may not realize the expected benefits;
(6) the risk that potential licensees may refuse or be slow to
adopt our AquaRefining process as an alternative in spite of the
perceived benefits of AquaRefining; (7) the risk that we may not
realize the expected economic benefits from any licenses we may
enter into; and (8) those risks disclosed in the section "Risk
Factors" are included in our Annual Report on Form 10-K filed on
March 27, 2024. 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
Investor RelationsBob Meyers & Rob FinkFNK
IR646-878-9204aqms@fnkir.com
MediaMatt RobertsAqua
Metals775-446-7245matt.roberts@aquametals.com
Source: Aqua Metals
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