Aqua Metals, Inc. · NASDAQ:AQMS
Aqua Metals — Q1 2023 Earnings Presentation
29 slides from Aqua Metals's earnings presentation, May 4, 2023
Slide 1: Leading a Revolution in Clean Metals Recycling
LEADING A REVOLUTION In Clean Metals Recycling NASDAQ: AQMS May 2023 Copyright © 2023 Aqua Metals, Inc. All Rights Reserved. 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements concerning Aqua Metals, Inc. Forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements that contain words such as "expects," "contemplates," "anticipates," "plan
Slide 3: Investor Highlights
Investor Highlights Patented recycling solution that has the potential to deliver the best economics and the lowest environmental impact Surging demand Innovative solution with operational pilot proving EVs, mobile devices, solar storage, everything technology, and plans for commercial-scale campus
Slide 4: The World Is Powered By Batteries
The World Is Powered By Batteries Lead-Acid • Most of LABs are used in EVs/cars, forklifts, cranes, data centers and e-bikes Batteries • LAB market is about $65B globally (LAB) • 95%+ of LABs are recycled, but at massive environmental cost through smelting, one of the top polluting industries in the
Slide 5: Expensive, Scarce Components in Li-ion Batteries
Expensive, Scarce Components in Li-ion Batteries As demand for EV batteries grows, countries are racing to build domestic supply chains 99% of raw and component materials for LiBs are produced outside the U.S. Mineral Pricing and demand growth1 Supply shortfall risks Geopolitical challenges COBALT •
Slide 6: The Next Generation Recycling Process
The Next Generation Recycling Process Replaces furnaces and heavy chemical use with 100% Recovers the high-value metals electricity-powered and closed- lost in smelting (like lithium and loop recycling, creating manganese), and produces fundamentally non-polluting, high purity products cost-efficien
Slide 7: Game Changing Environmental Performance
Game Changing Environmental Performance • Aqua Metals’ Li AquaRefining technology uses drastically less energy – and is powered by electricity, instead of fossil fuels • The process also produces markedly less waste than currently proposed solutions • As we scale lithium recycling, these differences
Slide 8: Pyro, Hydro and AquaRefining process comparison
PYRO Smelting approach is currently a multistep pyro approach to get back into supply chain. Emissions will be unsustainable long term as recycling volume increases. Cathode Co X Li Ni Cu X Mn Precursors High environmental impact – not viable long term. Does not Batteries Furnace Furnace Furnace rec
Slide 9: Competitive Landscape Lithium Recycling
Competitive Landscape Lithium Recycling AquaRefining ENVIRONMENTAL Pyro (Smelting) ECONOMICS Copyright © 2023 Aqua Metals, Inc. All Rights Reserved. 9
Slide 10: Li AquaRefining Flexibility
Li AquaRefining Flexibility Copyright © 2023 Aqua Metals, Inc. All Rights Reserved. 10
Slide 11: The Only Company To Recover All These Critical Minerals From Black Mass
AQUA METALS: The Only Company To Recover All These Critical Minerals From Black Mass Copyright © 2023 Aqua Metals, Inc. All Rights Reserved. 11
Slide 12: AquaRefining's superior advantages
AquaRefining’s superior advantages ✓ ~95% reduction in chemical waste streams compared to standard hydro processes ✓ ~96% reduction in carbon reduction compared to standard hydro processes ✓ ~99% carbon reduction over pyro Negligible greenhouse gas emissions that we cost ✓ effectively offset ✓ Produ
Slide 13: Recent Achievements
Recent Achievements Commercial Growth Scaling Operations Plans for new phased Pilot plant operates campus facility (at TRIC) 24x5 and expected to with space for 10,000tpa. recycle 6-10 tons of Pilot Plant LiB black mass per Deployment of first month in 2023. LiB recycling Proven Bench Scale operatio
Slide 14: Aqua Metals' Timeline
Aqua Metals’ Timeline Begin Scaling Operations at Phase I Campus 10,000 MT/year 24x5 Operations and Scaling Commercial (3,000 MT/year capacity, to 75 MT/year Recycling Operation ~$60M at today’s commodity prices) Q1 & Q2 2023 Q1 2024 2026 October 2022 Q3 & Q4 2023 2025 Commissioning Begin Scaling Aq
Slide 15: Pilot Plant Operational
Pilot Plant Operational Only sustainable lithium battery recycler operational in North America, with <10% emissions of hydro-recycling Proven ability to remove valuable materials from black mass; scaling at Pilot facility Black mass secured for operations through 2023 (and to reach commercial scale
Slide 16: Aqua Metals Converting Black Mass into Revenue
Aqua Metals Converting Black Mass into Revenue TAM: $165B based on 7.5M/MT of black mass x $22,000 of extracted value LiB Recycling – An Exponentially Growing Market Opportunity • LIB recycling predicted to hit $6.55B by 2028 with 18.5% CAGR vs. $1.7B in 2020 (Fortune Business Insights) • 2025-2030,
Slide 17: 6K Energy & AQMS Partnership
6K Energy & AQMS Partnership 6K & Aqua Metals Development Agreement: Non-Recurring Spent EV High-Purity Engineering 6K Energy New EV Black Mass (NRE) Batteries Recycled Metals UniMelt™ CAM Mfg. Batteries Novel pCAM Conversion Process AquaRefining Under development Virgin by Aqua Metals in Metals 202
Slide 18: ACME Partnership Phase 1 Deployment
ACME Partnership Phase 1 Deployment • TAM $350M annual licensing based on ~3.5M MT of lead paste x $100/MT licensing • 1st licensee in Taiwan operational, showcasing for industry leaders and investors • Pursuing expansion & new licensees Copyright © 2023 Aqua Metals, Inc. All Rights Reserved. 18
Slide 19: Phased Development of Commercial Scale Plant
Phased Development of Commercial Scale Plant • Five-acre campus designed to ultimately process more than 20 million pounds of lithium-ion battery material annually (10,000tpa) • Tahoe-Reno Industrial Center campus at the heart of Nevada’s lithium battery supply chain • Rendering of existing building
Slide 20: Financials
Financials As of Mach 31, 2023 Additional Sources of Capital $6.0M (net received April Cash and cash equivalents $3.4M Asset sale - 2500 Peru facility 26, 2023) Non-dilutive loan financing Working capital $7.4M $25.0M targeted (USDA) – potential U.S. Government grants – Quarterly burn rate (approx.)
Slide 21: Management
Management Steve Cotton Judd Merrill Ben Taecker Dave McMurtry Chief Executive Officer, Chief Financial Officer Chief Engineering Chief Business President and Operating Officer Officer Rejoined Aqua Metals in, 2018; Joined Aqua Metals in 2018 from 20+ years of experience in Experienced Silicon Valle
Slide 22: The future is bright for Aqua Metals
The future is bright for Aqua Metals Strong competitive $18 Billion addressable Expanding opportunities Ability to sell into all advantages with market in 2025 for both through partnerships and metals markets and environmentally friendly Pb and Li battery government grants, e.g., battery manufacture
Slide 23: Investor Highlights
Investor Highlights Patented recycling solution that has the potential to deliver the best economics and the lowest environmental impact Surging demand Innovative solution with operational pilot proving EVs, mobile devices, solar storage, everything technology, and plans for commercial-scale campus
Slide 24: NASDAQ: AQMS
NASDAQ: AQMS WWW.AQUAMETALS.COM Copyright © 2022 Aqua Metals, Inc. All Rights Reserved. 24
Slide 25: Appendix
Appendix 25
Slide 26: Financial Overview
FINANCIAL OVERVIEW Copyright © 2022 Aqua Metals, Inc. All Rights Reserved.2 26
Slide 27: Consolidated Balance Sheets
Consolidated Balance Sheets Copyright © 2022 Aqua Metals, Inc. All Rights Reserved. 27
Slide 28: Consolidated Statement of Operations
Consolidated Statement of Operations Copyright © 2022 Aqua Metals, Inc. All Rights Reserved. 28
Slide 29: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Copyright © 2022 Aqua Metals, Inc. All Rights Reserved. 29