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Aqua Metals Announces Breakthrough Operational Achievements in Sustainable Battery Recycling and Secures Bridge Loan to Support Strategic Goals
AQMSAqua Metals(AQMS) GlobeNewswire News Room·2024-12-20 13:00

Core Insights - Aqua Metals, Inc. has achieved significant operational milestones at its pilot facility, showcasing the effectiveness and scalability of its proprietary Li AquaRefining process [1][2] - The company successfully closed a 1.5millionbridgeloantofundoperationswhilepursuinglong−termfinancing[1][4]OperationalHighlights−Thepilotfacilitycompleteditsfirstmulti−weekcontinuousoperationcampaign,achievingover991.5 million bridge loan to fund operations while pursuing long-term financing [1][4] Operational Highlights - The pilot facility completed its first multi-week continuous operation campaign, achieving over 99% recovery rates for lithium, cobalt, and nickel from black mass [2] - Over 600 lbs. of battery-grade lithium carbonate produced in December, with nickel and cobalt recovery at 96.5%+ and 99%+ purity levels respectively [2] - Advanced process controls improved throughput and efficiency, setting the stage for scalability at the commercial level [2] - The pilot facility operated continuously for three weeks, achieving over 90% uptime [2] Financial Update - The 1.5 million bridge loan was partially funded by management and Board members, indicating strong confidence in the company's long-term potential [3][4] - The financing aims to support the buildout of the Sierra ARC commercial facility and future growth [4][5] Future Outlook - Aqua Metals is committed to sustainably recycling critical minerals, aligning with the increasing demand for electric vehicles and clean energy technologies [6] - The company anticipates providing further updates on financing, commercial partnerships, and operational progress in early 2025 [6]