Aqua Metals

Aqua Metals has signed a non-binding six-year letter of intent with WMC Group AG to buy 100% of the planned lithium carbonate production from Project Headwaters. The plant is scheduled to start in 2028 at 250 tonnes and ramp up to 2,250 tonnes per year by 2032, totaling about 7,000 tonnes and, at current prices, a gross value of roughly USD 135 million. The agreement foresees market-indexed pricing and cooperation on feedstock procurement, toll manufacturing and product qualification; a definitive contract is targeted by 30 September 2026. The letter of intent is largely non-binding, and completion, financing and on-time commissioning of Project Headwaters are not guaranteed. » More on de.investing.com

Aqua Metals is in the final due diligence phase and is negotiating to buy an industrial property (“Headwaters ARC”) near several LFP plants to build a commercial battery recycling facility. Plans call for pre-processing systems to produce black mass and aluminum and copper concentrates, followed by AquaRefining recovery of battery‑grade lithium carbonate and iron phosphate. A decision on the development path is expected this quarter, subject to negotiations, financing and permits; the company is considering third‑party capital models due to high cash burn. » More on de.investing.com

Aqua Metals presented its patented AquaRefining technology, which after more than 4,000 operating hours reportedly runs without the use of costly reagents and delivers a 98% lower greenhouse gas footprint compared with standard hydrometallurgy. At full capacity, processing costs are said to be about 97% of the Chinese level (versus 216% for conventional methods), achieved mainly by eliminating hydroxide, peroxide and acid costs. The company plans to commercialize scalable ARC plants, relies on partnerships (including 6K Energy and American Battery Factory) and is reviewing the acquisition of Lion Energy to boost near-term revenue. Aqua Metals reported the retirement of long-term liabilities, $10.8 million in cash and a 14.13% after-hours stock increase; industrial large-scale validation and financing risks remain. » More on de.investing.com