Core Viewpoint - Aqua Metals is acquiring Lion Energy to enhance its capabilities in the energy storage market and manage the entire battery lifecycle [1][2][3] Group 1: Acquisition Details - Aqua Metals has entered into a term sheet to acquire Lion Energy LLC, an energy storage systems provider [1] - The acquisition aims to leverage Lion Energy's brand, intellectual property, capital, technical talent, and manufacturing capabilities [2] Group 2: Strategic Intent - The transaction is expected to add significant revenue to Aqua Metals while expanding its participation in the growing energy storage market [3] - The CEO of Aqua Metals emphasized that energy storage is a natural extension of their battery materials strategy, aiming for a vertically integrated US-based battery supply chain [4] Group 3: Market Impact - Following the announcement, Aqua Metals' stock decreased by 6.9%, with a market capitalization of $12.8 million [4]

Company Overview - American Battery Technology (ABAT) is a battery recycling and materials company located in Reno, Nevada, focusing on the strategic development of onshore critical materials in the U.S. [1] Industry Context - The company operates within the context of increasing importance on domestic sourcing of critical materials, particularly in the battery sector, which is essential for the growth of electric vehicles and renewable energy technologies [1]

Core Insights - American Battery Technology Company (ABTC) reported a quarterly revenue increase of over 1,300% year-over-year while total operating expenses decreased by 24% year-over-year, indicating significant operational efficiencies [1][2] - The company achieved a key cash flow milestone where combined revenue from operations and interest income exceeded cash cost of goods sold for the first time [2][4] Financial Highlights - For Q2 FY 2026, the company reported combined revenue and interest income of $5.1 million, with $4.8 million from operations and $0.3 million from interest [8] - The cash cost of goods sold (cash-COGS) was reported at $4.9 million, with total COGS at $6.4 million, which includes non-cash costs of $1.1 million in depreciation and $0.4 million in stock-based compensation [8][10] - The company ended the quarter with a cash balance of $48.7 million, including $47.9 million in unrestricted cash and $0.8 million in restricted cash, and reported zero debt [8] Operational Developments - The company expanded its manufacturing operations significantly, generating more revenue in this quarter than in the previous four quarters combined [2] - ABTC's recycling operations drove revenue growth through increased processing volumes from high-value feed materials, including batteries from Battery Energy Storage Systems (BESS) and end-of-life electric vehicles [20] - The company is advancing the design and commercialization of a second battery recycling facility in the Southeast U.S., which will have approximately five-fold the capacity of its first facility [20] Strategic Projects - The Tonopah Flats Lithium Project (TFLP) is positioned as a cornerstone of the domestic lithium supply chain, with projected production of 30,000 tonnes per year of lithium hydroxide monohydrate [20] - The project has an after-tax NPV at 8% of $2.57 billion and an IRR of 21.8%, highlighting its financial viability [20] - ABTC has completed and submitted all baseline studies for the National Environmental Policy Act (NEPA) review process, marking a significant milestone in the project’s development [20]

Financial Data and Key Metrics Changes - The company achieved record high revenues of approximately $4.8 million for the quarter ending December, along with an additional $300,000 in interest income, totaling $5.1 million [5][14] - Operating costs increased to about $4.9 million for cash expenses, with total costs including non-cash items reaching approximately $6.4 million, indicating a close alignment between revenue generation and operational costs [6][8] - The company reported a cash balance of $48.7 million at the end of the quarter, marking one of the highest cash positions in years and zero debt on the balance sheet [7][8] Business Line Data and Key Metrics Changes - The lithium-ion battery recycling business has seen substantial scaling, with operational efficiencies leading to a minor increase in costs compared to revenue growth [6][9] - The company is in the process of designing and constructing a second battery recycling facility in the Southeast U.S., in addition to the existing facility near Reno [10] - The lithium hydroxide production from claystone is progressing, with the Tonopah Flats Lithium Project moving through maturity steps and demonstrating a competitive production cost of just over $4,300 per ton [13][14] Market Data and Key Metrics Changes - The company is receiving increased material from both the automotive sector and the stationary grid battery energy storage systems, indicating a diversified material sourcing strategy [8][9] - The company has received its CERCLA certification, allowing it to process materials from various stationary facilities across the country, enhancing its operational capabilities [9] Company Strategy and Development Direction - The company is focused on implementing a closed-loop infrastructure for battery recycling and critical mineral extraction, aiming to close the supply chain for lithium [3][4] - The strategic hiring of a new Chief Financial Officer is expected to support the ramp-up of business units and operational improvements [5] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about passing the break-even point for the recycling plant and continuing to grow margins as operations scale [7] - The company is actively working with federal agencies to expedite the permitting process for its lithium hydroxide facility, which has been designated as a priority project [12] Other Important Information - The company has successfully paid off all remaining debt and convertible notes, resulting in a strong balance sheet with no debt [8] - The company continues to receive government grants that support the operation and construction of its facilities [14] Q&A Session Summary Question: Can you discuss progress related to the ramp-up of the $30 million EPA cleanup agreement? - Management confirmed that the Moss Landing project in Northern California has been receiving material since the end of summer, contributing significantly to the factory's feedstock, and they are on pace to receive more material from this and other sources [16]

Financial Data and Key Metrics Changes - The company achieved record high revenues of approximately $4.8 million for the quarter ending December, along with an additional $300,000 in interest income, totaling $5.1 million in revenue and interest income for the quarter [5][14] - Operating costs increased to about $4.9 million for cash expenses, with total costs including non-cash items reaching approximately $6.4 million, indicating a close alignment between revenue generation and operational costs [6][8] - The company reported a cash balance of $48.7 million at the end of the quarter, marking one of the highest cash positions in years and eliminating all debt, resulting in a strong balance sheet [7][8] Business Line Data and Key Metrics Changes - The company operates two main business units: lithium-ion battery recycling and lithium hydroxide production from claystone [2][3] - The first recycling facility has scaled operations significantly, receiving increased material from both the automotive sector and stationary grid battery energy storage systems [8][9] - The second battery recycling facility is under design and construction in the Southeast US, while the Tonopah Flats Lithium Project is progressing through permitting and feasibility studies [10][12] Market Data and Key Metrics Changes - The company has received substantial material from the Moss Landing project in Northern California, contributing significantly to feedstock for the recycling facility [16] - The company has established strong relationships with the EPA, receiving a rare CERCLA certification to manage materials from various stationary facilities [9] Company Strategy and Development Direction - The company is focused on implementing a closed-loop infrastructure for battery recycling and critical mineral extraction, aiming to close the supply chain for lithium [3][4] - The strategic direction includes ramping up operations at existing facilities while also advancing the construction of new facilities to meet growing demand [7][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about passing the break-even point for the recycling plant and continuing to grow margins as operational efficiencies are implemented [7] - The company is actively engaging with federal agencies to expedite the permitting process for the Tonopah Flats Lithium Project, which is expected to be a competitive facility in the market [12][13] Other Important Information - The company has published a pre-feasibility study indicating attractive returns for the lithium hydroxide facility, with a production cost of just over $4,300 per ton [13][14] - The company is working on a definitive feasibility study to finalize the design and secure investment for the lithium refinery [14] Q&A Session Summary Question: Can you discuss progress related to the ramp-up of the $30 million EPA cleanup agreement? - Management confirmed that the Moss Landing project has been receiving material since the end of summer, contributing significantly to the factory's feedstock, and they are on pace to receive more material from this and other sources [16]

Core Insights - American Battery Technology (ABAT) reported record revenue from its first commercial-scale lithium-ion battery recycling facility, generating approximately $4.8 million in product revenue and about $300,000 in interest income for a total of roughly $5.1 million in the quarter ended December [2][4][6] - The company is focused on building a "closed-loop" battery materials infrastructure, which includes lithium-ion battery recycling and primary lithium production from claystone, to meet the growing demand for critical minerals [3][18] - ABAT ended the quarter with a cash balance of approximately $48.7 million, has zero debt, and appointed Alex Flores as CFO to support growth and financing [5][7][8] Financial Performance - Operating costs for the recycling plant were about $4.9 million in cash expenses and $6.4 million when including non-cash costs, indicating that revenue is nearing cash break-even [1][6] - The December quarter's revenue was greater than the total revenue of the previous four quarters combined, showcasing significant growth [6] Operational Updates - The company is receiving significant volumes of battery material from the automotive sector and stationary grid applications, focusing on improving plant efficiency through economies of scale [9][10] - ABAT is advancing its Tonopah Flats Lithium Project, which aims to produce battery-grade lithium hydroxide from claystone, with a pre-feasibility study showing attractive returns and a modeled production cost of just over $4,300 per ton [5][14][15] Expansion Plans - ABAT is moving forward with the design and construction of a second battery recycling facility in the Southeast U.S. [11] - The company is working on a definitive feasibility study for the Tonopah Flats project, expected to be published shortly [15] Regulatory and Certification Achievements - ABAT has received CERCLA certification, allowing it to receive certain types of material from stationary facilities across the country, and is working with the EPA to manage this certification [10]

Financial Data and Key Metrics Changes - The company achieved record high revenues of approximately $4.8 million for the quarter ending December, with an additional $300,000 in interest income, totaling $5.1 million in revenue and interest income [5][6][16] - Operating costs increased to about $4.9 million in cash expenses, with total costs including non-cash items reaching approximately $6.4 million, indicating a close alignment between revenue generation and operational costs [6][9] - The company reported a cash balance of $48.7 million at the end of the quarter, marking one of the highest cash positions in years and indicating strong financial health with zero debt [8][9][17] Business Line Data and Key Metrics Changes - The company operates two main business units: lithium-ion battery recycling and lithium hydroxide production from claystone [2][3] - The first recycling facility has scaled operations significantly, receiving increased material from both the automotive sector and stationary grid battery energy storage systems [9][10] - The second battery recycling facility is under design and construction in the Southeast US, indicating expansion efforts in the recycling business [11] Market Data and Key Metrics Changes - The company has received substantial material from the Moss Landing project in Northern California, which is part of a $30 million EPA cleanup agreement, contributing significantly to feedstock for the recycling facility [18] - The company has established strong relationships with the EPA and has received a rare CERCLA certification, allowing it to process materials from various stationary facilities across the country [10] Company Strategy and Development Direction - The company is focused on implementing a closed-loop infrastructure for battery recycling and critical mineral extraction, aiming to close the supply chain for lithium [3][4] - The Tonopah Flats Lithium Project is progressing, with the company working on a definitive feasibility study to secure investment for the mine and refinery [12][15] - The company aims to enhance operational efficiencies and scale operations at its facilities, with plans to add value-added processes [7][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about passing the break-even point for the recycling plant and continuing to grow margins as operations scale [7] - The company is actively engaging with federal agencies to expedite the permitting process for its lithium hydroxide production facility, reflecting a proactive approach to regulatory challenges [13][14] Other Important Information - The company has welcomed a new Chief Financial Officer, Alex Flores, who brings over 20 years of experience in the battery and automotive sectors [5] - The company has received government grants that support the operation and construction of its facilities, contributing to its financial stability [16] Q&A Session Summary Question: Can you discuss progress related to the ramp-up of the $30 million EPA cleanup agreement? - The company confirmed that the Moss Landing project has been decommissioning for several months and has been receiving material since the end of summer, which represents a substantial portion of the feed into the factory [18]

TECHNOLOGY COMPANY Quarterly Overview Presentation February 5, 2026 Forward-Looking Statement This presentation contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are "forward- looking statements." Although the American Battery Technology Company's (the "Company") management believes that such forward-looking statements are reasonable, it cannot quarante ...

Core Insights - Aqua Metals, Inc. is participating in the NAATBatt 2026 Annual Meeting to engage with industry leaders and discuss advancements in battery recycling and supply chains [1][2][5] Company Activities - Aqua Metals will have representatives attending technical and policy sessions, and speaking on topics related to battery recycling and critical minerals supply [3] - The company plans to share updates on operational milestones and strategic partnerships during the conference [4] Industry Context - The NAATBatt Annual Meeting serves as a platform for collaboration among manufacturers, suppliers, recyclers, and policymakers in the battery and energy storage sectors [2] - Discussions will focus on market trends, technology development, and the future of advanced battery supply chains [2]

Core Insights - Google has invested in Redwood Materials, a startup focused on battery recycling and cathode production, as it expands into energy storage for AI data centers and industrial sites [1][3] - Redwood Materials raised a total of $425 million in its Series E funding round, with a post-money valuation exceeding $6 billion, marking an increase of over $1 billion from its previous valuation [2] - The company has raised a total of $4.9 billion in capital to date [2] Company Overview - Redwood Materials was founded in 2017 by former Tesla CTO JB Straubel to create a circular supply chain for batteries, initially focusing on recycling scrap from battery production and consumer electronics [4] - The company processes scrap materials to extract valuable components like nickel and lithium, which are then sold to manufacturers such as Panasonic for battery production [4] Business Expansion - Redwood has diversified its operations beyond recycling, adding cathode production and launching an energy-storage business that repurposes EV batteries into micro-grids for AI data centers and large industrial sites [5] - The new energy-storage venture, Redwood Energy, was initiated in response to the increasing demand for data centers [5] Market Demand - The company emphasizes that energy storage has become essential infrastructure due to surging electricity demand driven by AI, data centers, and electrification [6] - Redwood claims to recover over 70% of used or discarded battery packs in North America, many of which can be repurposed for energy storage [6] Future Projections - Redwood reported having over 1 gigawatt-hour of energy storage capacity in inventory and expects to receive an additional 4 gigawatt-hours soon [7] - The company aims to deploy 20 gigawatt-hours of grid-scale storage by 2028 [7]