Core Viewpoint - Aqua Metals, Inc. has announced its intention to acquire Lion Energy, LLC, aiming to create a comprehensive platform that integrates energy storage products, energy management software, recycling, and battery materials, thereby enhancing its position in the expanding energy and virtual power plant markets [1][2][3] Company Overview - Aqua Metals is a pioneer in battery metals recycling and refining, utilizing proprietary AquaRefining™ technology to deliver sustainable energy storage solutions [16] - Lion Energy, based in Utah, has established a significant presence in the U.S. energy storage market, achieving approximately $50 million in revenue in 2025 [5][6] Strategic Rationale - The acquisition is expected to add meaningful revenue to Aqua Metals while expanding its participation in the rapidly growing energy storage market, which is driven by increasing demand for AI data centers and reliable distributed power solutions [3][7] - Lion Energy's vertically integrated energy software and systems platform will enable Aqua Metals to support advanced use cases such as demand response and fleet-level orchestration [6][9] Market Dynamics - The U.S. energy storage market is experiencing rapid growth, with battery storage capacity increasing by 59% annually, positioning the combined entity to capture market opportunities driven by electrification and decentralized power needs [7][9] - Utility-scale deployments are projected to rise by approximately 66% in 2024, indicating strong demand for energy storage solutions [8] Transaction Details - The acquisition will be conducted as an all-stock transaction valued at approximately $25.8 million, with potential additional shares based on Lion Energy's performance post-transaction [11][12] - Following the acquisition, Lion Energy will operate as a wholly-owned subsidiary of Aqua Metals, maintaining its current executive and management team [13] Future Outlook - The combined company is expected to advance across three growth areas: energy storage systems, battery manufacturing, and critical minerals recycling, aligning with the increasing focus on domestic supply chains [9][10]

Core Viewpoint - The strategic collaboration between Aqua Metals and American Battery Factory aims to create a cost-competitive, domestic battery materials supply chain through recycling and circular manufacturing, addressing the challenges of processing battery materials in the U.S. rather than relying on overseas markets [1][3]. Group 1: Collaboration Details - Aqua Metals and American Battery Factory have signed a non-binding Memorandum of Understanding (MOU) to evaluate the co-location of a lithium-ion battery recycling facility next to ABF's planned manufacturing operations in Tucson, Arizona [2]. - The collaboration will allow Aqua Metals to recycle lithium-ion battery manufacturing scrap from ABF and return battery-grade lithium carbonate for reuse in U.S.-based battery production [2][5]. Group 2: Industry Challenges and Solutions - The partnership aims to tackle the economic challenge of processing battery materials domestically, reducing the need to export manufacturing scrap to overseas markets for processing [3]. - By integrating recycling with battery manufacturing, the companies seek to enhance cost competitiveness, simplify logistics, and bolster domestic supply chain resilience [3][6]. Group 3: Technology and Operations - Aqua Metals utilizes its proprietary AquaRefining™ technology, which replaces traditional high-temperature furnaces and chemical-intensive processes with an electricity-powered, closed-loop system, promoting efficiency and safety in manufacturing [4][10]. - The proposed recycling facility is expected to process up to 10,000 metric tons of lithium-ion battery materials annually, improving logistics efficiency and reducing transportation costs [6]. Group 4: Economic Incentives and Future Plans - The companies will explore how domestic manufacturing incentives, such as the 45X Advanced Manufacturing Production Tax Credit, could enhance the economic viability of U.S.-based battery materials production [7]. - Any definitive agreements will depend on financing, permitting, and regulatory approvals, with a target to commence commercial operations in 2028 [7]. Group 5: Company Backgrounds - Aqua Metals is focused on revolutionizing metals recycling with its AquaRefining™ technology, aiming to provide high-purity, low-carbon battery materials to meet the demand for sustainable energy storage [10]. - American Battery Factory is dedicated to establishing a domestic supply of lithium iron phosphate (LFP) battery cells, contributing to energy security and job creation in the U.S. [11].

Core Viewpoint - Aqua Metals, Inc. has entered into a multi-year Material Supply Agreement with 6K Energy, marking a significant step in the commercialization of its AquaRefining™ technology and supporting the domestic battery materials strategy [1][4]. Group 1: Agreement Details - The agreement establishes a framework for the supply of battery-grade nickel metal and lithium carbonate produced through Aqua Metals' AquaRefining™ process, with an initial term of three years [2]. - 6K Energy will have the option to purchase these materials at prices based on current London Metal Exchange trading prices, potentially representing tens of millions of dollars in annual value [2]. - The agreement aims to align product specifications, qualification pathways, and pricing mechanisms to support the use of recycled materials in domestic cathode manufacturing [2][5]. Group 2: Environmental and Economic Benefits - AquaRefining™ technology offers a 98% reduction in greenhouse gas emissions compared to traditional methods, along with approximately $1,100 per metric ton in cost savings [3]. - The process operates without harmful chemicals and regenerates sulfuric acid for reuse, contributing to a sustainable, closed-loop system [3]. Group 3: Strategic Importance - The agreement is seen as a transition from technology validation to customer-aligned commercialization, aligning Aqua Metals' products with downstream manufacturing requirements [4]. - It reflects a shared focus on strengthening U.S. battery supply chains and reducing reliance on overseas processing, with materials expected to meet Foreign Entity of Concern compliance [5][6]. - The MSA allows for future collaboration opportunities, including evaluating tolling arrangements for lithium-ion battery black mass, supporting a feedstock-agnostic refining platform [6]. Group 4: Company Overview - Aqua Metals is focused on revolutionizing metals recycling with its AquaRefining™ technology, aiming to provide high-purity, low-carbon battery materials to meet the demand for sustainable energy storage [8].

Core Insights - Aqua Metals has signed a non-binding Letter of Intent (LOI) with Westwin Elements to potentially supply up to 1,000 metric tons of recycled nickel carbonate annually, valued at approximately $12 million based on current nickel prices, highlighting the increasing demand for domestic nickel materials [1][3]. Group 1: Agreement Details - The LOI outlines plans for Aqua Metals to supply between 500 and 1,000 metric tons of high-purity nickel carbonate annually to Westwin Elements, marking a significant step towards establishing a domestic source of nickel carbonate [3]. - The targeted commencement for product delivery is set for the calendar year 2027, contingent upon securing necessary financing and completing the build-out of commercial facilities by both parties [3]. Group 2: Technological and Environmental Impact - Aqua Metals utilizes its proprietary AquaRefining™ technology to produce battery-grade nickel carbonate from lithium-ion battery black mass, which has successfully met Westwin's technical and economic criteria [2]. - This collaboration aims to advance America's critical minerals independence and promote a sustainable supply chain for nickel, reducing reliance on imports [4]. Group 3: Company Profiles - Aqua Metals is focused on revolutionizing metals recycling, delivering high-purity, low-carbon battery materials essential for sustainable energy storage, and supporting a circular supply chain for critical minerals [5]. - Westwin Elements is establishing America's first major nickel refinery, aiming to provide high-purity Class 1 nickel and specialized products for national security and industrial applications [6].

Core Insights - Aqua Metals, Inc. has announced a Memorandum of Understanding (MOU) with MOBY Robotics Inc. to lead in sustainable refining of deep-sea polymetallic nodules, aiming to enhance domestic solutions for critical mineral independence [1][5][7] Collaboration Details - The MOU focuses on evaluating the technical and commercial feasibility of producing battery-grade materials from polymetallic deep-sea nodules, with bench-scale testing planned for later this year [2][3] - The collaboration will also explore the extraction and refining of rare earth elements (REEs) from the nodules, which would expand Aqua Metals' role in the domestic supply chain for batteries and advanced manufacturing [3][4] Strategic Importance - This initiative marks Aqua Metals' second MOU related to deep-sea minerals, extending its AquaRefining™ process beyond lithium-ion battery recycling to new sources of critical minerals [4] - The collaboration is seen as a significant opportunity to strengthen the U.S. supply of critical minerals, particularly as international demand for nickel, cobalt, and manganese increases [5][6] Market Position - Aqua Metals is positioned as a first mover in sustainable refining and battery metals recycling, with initiatives expected to enhance its standing in the multi-billion-dollar critical minerals market [7]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Table of Contents As filed with the Securities and Exchange Commission on October 2, 2025 Registration No. 333- AQUA METALS, INC. (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) Stephen Cotton Chief Executive Officer 5370 Kietzke Lane, Suite 201 Reno, Nevada 89511 (775) 446-4418 (Name, address, including ...

Core Insights - Aqua Metals, Inc. is participating in The Battery Show North America from October 6–9, 2025, in Detroit, Michigan, focusing on sustainable lithium-ion battery recycling [1] - The company aims to engage with key players in the battery ecosystem to advance commercial relationships and strategic partnerships [3] Company Overview - Aqua Metals is a pioneer in sustainable lithium-ion battery recycling, utilizing its proprietary AquaRefining™ technology to recycle critical minerals from end-of-life batteries and manufacturing scrap [5][6] - The company is based in Reno, Nevada, and is focused on commercializing non-polluting recycling processes that close the loop on critical minerals for clean energy technologies [6] Industry Context - The Battery Show North America serves as a premier gathering for the advanced battery and electric vehicle industries, facilitating discussions on emerging technologies and critical conversations for a sustainable energy future [4] - David Regan, Aqua Metals' Vice President of Commercial, will participate in a panel discussing U.S. supply chain resilience and strategies for securing essential minerals for clean energy [2][5]

Core Insights - Aqua Metals has entered into a Memorandum of Understanding (MOU) with Impossible Metals to create a domestic supply chain for critical minerals essential for electrification and clean energy technologies [1][2] - The partnership aims to combine Impossible Metals' seabed mining technology with Aqua Metals' recycling capabilities to produce and refine minerals like nickel, cobalt, copper, manganese, and rare earth elements [2][3] - This collaboration is positioned as a step towards enhancing America's critical mineral independence and establishing a sustainable infrastructure for mineral supply [3] Company Overview - Aqua Metals is focused on clean metals recycling and has developed the AquaRefining™ technology, which is a non-polluting process for lithium-ion battery recycling [5] - Impossible Metals specializes in underwater robotics for sustainable mineral collection, with its Eureka Collection System designed to harvest polymetallic nodules while protecting marine ecosystems [4][5] - Both companies share a commitment to innovation and environmental responsibility, aiming to secure a stable supply chain for critical minerals in the U.S. [3][4] Strategic Goals - The partnership will explore the integration of seabed mining and recycling to create a low-carbon, closed-loop process that minimizes waste and environmental impact [5] - The collaboration is expected to contribute to a more resilient and transparent critical minerals market, reducing dependence on overseas sources, particularly from China [5][6] - Future opportunities may arise to expand the scope of this collaboration, enhancing the stability of the global minerals market [5]

Core Insights - Aqua Metals reported financial results for Q1 2025, emphasizing advancements in its AquaRefining™ technology aimed at establishing a resilient battery supply chain in the U.S. [1][2] Financial Performance - Total current assets decreased from $4,644,000 as of December 31, 2024, to $2,219,000 as of March 31, 2025 [15] - Total assets also declined from $26,365,000 to $18,065,000 during the same period [15] - The net loss for Q1 2025 was $8,315,000, compared to a net loss of $5,752,000 in Q1 2024 [16] Product and Technology Development - Aqua Metals produced initial samples of nickel carbonate and mixed hydroxide precipitate (MHP), aligning with customer specifications for battery-grade precursors [12] - The company completed a bench-scale demonstration for lithium recovery from lithium iron phosphate (LFP) batteries, which could enhance economic models by doubling lithium carbonate output [12] - Continued refinement of high-purity lithium carbonate production processes positions Aqua Metals as a preferred partner in domestic lithium production [12] Strategic Decisions - Aqua Metals agreed to sell the Sierra ARC property, which will retire all debt and generate significant cash proceeds, reducing holding costs by approximately $100,000 per month [3] - The company is exploring co-location opportunities with strategic partners to lower capital and operational expenditures [3][4] Leadership Changes - Judd Merrill will transition from CFO to a consulting role, with Eric West stepping in as the new CFO effective May 19, 2025 [5][6] - The leadership transition aims to maintain strong collaboration between operations and finance as the company scales [6] Market Positioning - The company is focused on building a flexible, high-performance battery recycling platform to adapt to the evolving lithium battery market [2] - Aqua Metals is committed to constructing its first commercial ARC and is actively engaging with potential supply and funding partners [4]

Core Insights - Aqua Metals, Inc. is set to report its financial results for Q1 2025 on May 8, 2025, and will host a conference call at 4:30 p.m. ET on the same day [1] Company Overview - Aqua Metals, Inc. is a leader in sustainable lithium-ion battery recycling, utilizing its patented AquaRefining™ technology [4] - The company aims to provide a low-emissions, closed-loop recycling solution for materials essential to energy storage and electric vehicle manufacturing [4] - AquaRefining™ technology replaces traditional polluting methods with electricity-powered electroplating, resulting in higher purity metal recovery, lower emissions, and minimal waste [4] - The company operates its first sustainable lithium battery recycling facility at its Innovation Center in the Tahoe-Reno Industrial Center [4] Communication Channels - Aqua Metals utilizes its investor relations website and social media platforms such as X, Threads, LinkedIn, and YouTube for disclosing material non-public information [5]