Aqua Metals Invests in LINICO, a Cleantech Lithium-Ion Battery Recycling Innovator
February 17 2021 - 6:45AM
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 today its majority
investment in LiNiCo. LiNiCo is an investor in Green Li-ion,
providing Aqua Metals with an indirect investment in Green
Li-ion.
"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," said Michael Vogel, President, CEO and Founder
of LiNiCo. "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."
"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," said
Steve Cotton, President and CEO of Aqua Metals. "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."
About Aqua Metals
Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing
metals recycling with its patented hydrometallurgical AquaRefining™
technology. The modular Aqualyzers™ cleanly generate ultra-pure
metal one atom at a time, closing the sustainability loop for the
rapidly growing energy storage economy. The Company’s offerings
include equipment supply, services and licensing of the
AquaRefining technology to recyclers across the globe. Aqua Metals
is based in McCarran, Nevada. To learn more, please visit
www.aquametals.com.
About LiNiCo
LINICO Corporation is an American based
cleantech startup focused on creating economically viable and
environmentally sustainable technologies for lithium-ion battery
recycling. LiNiCo’s goal is to alleviate the global reliance on
harmful mining activities used in the production of critical raw
materials and to close-the-loop on sustainable end-of-life
practices for lithium-ion batteries. Additional information on
LiNiCo is available online at www.linico.io.
About Comstock
Comstock Mining Inc. is engaged in sustainable
mineral development and production of increasingly scarce strategic
metals. The company is focused on conservation-based, mineral and
metal valorization essential to meeting the demand for clean energy
technologies. To learn more, please visit
www.comstockmining.com.
About Green Li-ion
Green Li-ion’s stated mission is to solve the
existential risk to the precious metals industry and the
environment. Green Li-ion has developed a patented technology that,
according to the company, is cleaner, faster, and more profitable
than alternative lithium-ion battery recycling solutions. Green
Li-ion technology aims to produce 99.9% pure cathodes resulting in
manufacturing-ready cathode material for the lithium-ion battery
industry. To learn more please visit www.greenli-ion.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 (@AquaMatalsInc), https://www.linkedin.com/company/aqua-metals-limited and
https://www.youtube.com/channel/UCvxKNWcB69K0t7e337uQ8nQ 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 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 the sale of the McCarran facility, the benefits of
our new methodology for producing battery manufacturing ready
active material and the future of lead acid battery recycling via
traditional smelters. 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 realize the expected benefits of our
investment in LiNiCo; (2) the risk that we may not be able to
conclude an eco-network with Green Li-ion, LiNiCo and Comstock
Mining or, if we do, that we may not realize the expected benefits
of the eco-network; (3) the risk that we may not complete the
development of our new methodology for producing battery
manufacturing ready active material, (4) the risk that we may not
realize the expected benefits from the new methodology; (5) the
risk that we may not be able to satisfactorily demonstrate to
potential licensees the technical and commercial viability of our
V1.25 electrolyzer and AquaRefining process; (6) the risk that
licensees may refuse or be slow to adopt our AquaRefining process
as an alternative to smelting 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; (8) the risk
that we may not be able to access additional capital as and when
needed; (9) the fact that we have not generated any significant
revenue to date, thus subjecting us to all of the risks inherent in
an early-stage company; (10) the risk that our patents and any
other patents that may be issued may be challenged, invalidated, or
circumvented; (11) changes in the federal, state and foreign laws
regulating the recycling of lead acid batteries; (12) our ability
to protect our proprietary technology, trade secrets and know-how
and (13) those other risks disclosed in the section "Risk Factors"
included in our Quarterly Report on Form 10-Q filed on October 22,
2020 and subsequent SEC filings. 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: Glen Akselrod, Bristol Capital(905)
326-1888, Ext. 1glen@bristolir.com
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