Aqua Metals, Inc. · NASDAQ:AQMS
Aqua Metals — Q4 2023 Earnings Presentation
27 slides from Aqua Metals's earnings presentation, Mar 27, 2024
Slide 1: Leading a Revolution in Clean Metals & Battery Recycling
LEADING A REVOLUTION IN CLEAN METALS & BATTERY RECYCLING NASDAQ: AQMS March 2024 Copyright © 2024 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 PAT E N T E D R E C Y C L I N G S O L U T I O N T H AT H A S T H E P O T E N T I A L T O D E L I V E R T H E B E S T E C O N O M I C S A N D L O W E S T E N V I R O N M E N TA L I M P A C T Surging demand Innovative solution with operational pilot proving EVs, mobile devices, sol
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: Growing Market Demand
Growing Market Demand Stationary Batteries Critical to Clean Energy Adoption Lithium-ion batteries are widespread throughout the electrified economy Growing demand across industries fueling manufacturing boom Copyright © 2024 Aqua Metals, Inc. All Rights Reserved. 5
Slide 6: Growth Catalysts
Growth Catalysts • More than 1 million EVs sold in the US in 2023 • US on pace to have 35gw of battery energy storage systems on the grid by 2025 • EVs made up 18% of all vehicle sales globally in 2023 • More than 20% of homes with solar now also have a • Average lithium battery size of over 40kwh b
Slide 7: Rapid Expansion of North American Battery Industry
Rapid Expansion of North American Battery Industry By 2030, the US alone is projected to have nearly 1 terawatt hour of lithium battery cell manufacturing • $92B total investment and counting • 80+ processing & manufacturing facilities Supply chain for lithium batteries is growing rapidly throughout
Slide 8: Expensive, Scarce Components in Li-ion Batteries
Expensive, Scarce Components in Li-ion Batteries A S D E M A N D F O R E V B A T T E R I E S G R O W S , C O U N T R I E S A R E R A C I N G T O B U I L D D O M E S T I C S U P P LY C H A I N S 9 9 % O F R AW A N D C O M P O N E N T M AT E R I A L S F O R L I B s A R E P R O D U C E D O U T S I D E
Slide 9: 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 10: Creating a Circular Ecosystem
Creating a Circular Ecosystem MOVING BEYOND A RECYCLING ECONOMY AND FOCUS ON CIRCULAR SOLUTIONS Copyright © 2024 Aqua Metals, Inc. All Rights Reserved. 10
Slide 11: Legacy Recycling Processes Not Sustainable
Legacy Recycling Processes Not Sustainable T U R N S O U T F U R N A C E S A N D T R A I N L O A D S O F C H E M I C A L S I S N ’ T A L L T H AT C L E A N Pyrometallurgy ❑ Energy intensive, fossil-fuel powered • Furnaces incinerate & oxidize valuable materials (even electric) • Creates slag and all
Slide 12: Current LiB Recycling Technology Comparison
Current LiB Recycling Technology Comparison PYRO Smelting approach is currently a multistep pyro. Emissions will be unsustainable long term as recycling volume increases. Cathode Co X Li Ni Cu X Mn Precursors • Significant carbon pollution, toxic emissions Batteries Furnace Furnace Furnace • Produce
Slide 13: Li AquaRefining: First Sustainable LiB Recycling
Li AquaRefining: First Sustainable LiB Recycling Li AquaRefining recovers critical materials using electricity in a closed-loop system • 99% less CO2 than pyro or mining and no polluting furnaces • 95% less chemicals than hydro, regenerative process lowers costs and emissions • 95%+ recovery rate of
Slide 14: Game Changing Environmental Performance
Game Changing Environmental Performance E L E C T R I F Y I N G L I T H I U M B AT T E R Y R E C Y C L I N G T O R E D U C E E M I S S I O N S A N D W A S T E • Aqua Metals’ Li AquaRefining technology uses dramatically less energy – powered by electricity, instead of fossil fuels • Much lower emissi
Slide 15: Competitive Landscape Lithium Recycling
Competitive Landscape Lithium Recycling AquaRefining ENVIRONMENTAL Pyro (Smelting) ECONOMICS Copyright © 2024 Aqua Metals, Inc. All Rights Reserved. 15
Slide 16: Aqua Metals' Commercial-Scale Timeline
Aqua Metals’ Commercial-Scale Timeline Complete Ramping Operations Buildout & Up-fitting to Consistent Submitted DOE Grant Phase One Sierra Revenue from Application ARC Facility Recycled Material Q1 2024 H1 2024 2025 Q1 2024 Q2 2024 H2 2024 Finalized First Receive Commissioning of Off-taker Determin
Slide 17: Aqua Metals' AquaRefining Pilot
Aqua Metals’ AquaRefining Pilot Reno, NV: 75-100 tonnes per year Copyright © 2022 Aqua Metals, Inc. All Rights Reserved. 17
Slide 18: Sustainable LiB Recycling Pioneers
Sustainable LiB Recycling Pioneers E L E C T R I F Y I N G T H E N E X T G E N E R AT I O N O F L I T H I U M B AT T E R Y R E C Y C L I N G • AquaRefining: The first sustainable battery recycling solution, a regenerative form of electro-hydrometallurgy • An innovative application of electroplating
Slide 19: Sustainable LiB Recycling Pioneers
Sustainable LiB Recycling Pioneers E L E C T R I F Y I N G T H E N E X T G E N E R AT I O N O F L I T H I U M B AT T E R Y R E C Y C L I N G • Recovers pure metals (Co, Cu, Ni) instead of battery metal salts, achieving LME purity ❑ Ability to deliver to various CAM/battery manufacturers, not spec’d
Slide 20: Pilot Recycling Operations Lifecycle Analysis
Pilot Recycling Operations Lifecycle Analysis Independent Technical Report conducted by global engineering firm ICF International including Lifecycle Analysis (LCA) of Aqua Metals’ AquaRefining Pilot Technical Report Conclusions: • Today, AquaRefining shows 83% reduction in carbon emissions compared
Slide 21: Aqua Metals' First AquaRefining Campus
Aqua Metals’ First AquaRefining Campus Tahoe-Reno Industrial Center 10,000 tonnes-per-year target capacity Full campus operational by 2028 Copyright © 2024 Aqua Metals, Inc. All Rights Reserved. 17 21
Slide 22: Expanding Partner Ecosystem
Expanding Partner Ecosystem P R O V I D I N G S A M P L E S T O M A N U F A C T U R E R S A N D S U P P L I E R S T H R O U G H O U T T H E B A T T E R Y S U P P LY C H A I N YULHO Leading Battery Materials Co. in South Korea 6K ENERGY DRAGONFLY ENERGY • SK’s largest black mass facility, expanding t
Slide 23: Growing Capacity
Growing Capacity TONNES PER ANNUM • Combined capacity across all announced projects to date • Wholly-owned, JV, and license models all being developed • Includes Sierra ARC and co-location with 6K Energy in U.S., and licensed facilities in Asia with Yulho Materials Copyright © 2024 Aqua Metals, Inc.
Slide 24: Financials
Financials As of December 31, 2023 Additional Sources of Capital USDA non-dilutive loan Cash and cash equivalents $16.5M $25.0M targeted financing – potential Other non-dilutive loan Working capital $13.7M $25.0M targeted financing – potential U.S. Government grants – Quarterly burn rate (approx.) $
Slide 25: 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 26: Investor Highlights
Investor Highlights PAT E N T E D R E C Y C L I N G S O L U T I O N T H AT H A S T H E P O T E N T I A L T O D E L I V E R T H E B E S T E C O N O M I C S A N D L O W E S T E N V I R O N M E N TA L I M P A C T Surging demand Innovative solution with operational pilot proving EVs, mobile devices, sol
Slide 27: NASDAQ: AQMS
NASDAQ: AQMS WWW.AQUAMETALS.COM Copyright © 2022 Aqua Metals, Inc. All Rights Reserved. 27