Business
Aqua Metals Invests in LINICO, a Cleantech Lithium-Ion Battery Recycling Innovator
Explores Opportunity to Expand AquaRefining™ Technology to Strategic Metals Beyond Lead MCCARRAN, Nev., Feb. 17, 2021 (GLOBE NEWSWIRE) -- Aqua Metals, Inc.
About this update from Aqua Metals, Inc.
[{"type":"text","content":"Explores Opportunity to Expand AquaRefining™ Technology to Strategic Metals Beyond Lead MCCARRAN, Nev., Feb. 17, 2021 (GLOBE NEWSWIRE) -- 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...