Aqua Metals(US:AQMS) Newsfilter·2024-12-20 13:00Core Insights - Aqua Metals is advancing sustainable lithium battery recycling through its proprietary AquaRefining™ technology, achieving high recovery rates and producing battery-grade materials [2][5][8] - The company has successfully closed a $1.5 million bridge loan to support operations and long-term financing efforts, with over 50% funded by management and board members [10][18] - Significant operational milestones include over 99% recovery rates for lithium, cobalt, and nickel, and the production of over 600 lbs. of battery-grade lithium carbonate [9][17] Operational Highlights - Achieved over 99% recovery rates for lithium, cobalt, and nickel from black mass using a proprietary leaching process [9] - Produced over 600 lbs. of battery-grade lithium carbonate in December [9] - Nickel and cobalt recovery at 96.5%+ and 99%+ purity levels respectively [9] - Demonstrated advanced process controls that improved throughput and efficiency, setting the stage for scalability [9] - Successfully operated the pilot facility continuously for three weeks, achieving over 90% uptime [9] Financial Update - The $1.5 million bridge loan is a strategic step to maintain momentum while advancing commercial agreements and securing funding [10][18] - Management anticipates a resolution on long-term financing in Q1 2025, which will support the buildout of the Sierra ARC commercial facility [2][18] Future Outlook - Aqua Metals is committed to scaling operations at the Sierra ARC and expanding U.S. capacity for sustainable battery recycling [18] - The company expects to provide further updates on financing, commercial partnerships, and operational progress in early 2025 [18]