Aqua Metals, LINICO Ink Deal For Clean Lithium-Ion Battery Recycling Technology Development

Aqua Metals Inc AQMS signed a collaboration agreement with LINICO Corporation to process lithium-ion battery black mass into high-quality metals. The financial terms were not disclosed.
The agreement sets the parameters for future research and development cooperation and strengthens expansion into lithium-ion battery recycling.
Aqua Metals and LiNiCo plans to source the necessary lithium-ion feedstock from battery manufacturing scrap and end-of-life cells from various sources. LiNiCo will process the feedstock into high-quality black mass utilizing its proprietary process.
In February 2021, Aqua Metals and LiNiCo reached a lease-to-buy agreement for the Aqua Metals' 136,000 square foot AquaRefining facility. LiNiCo made the first purchase deposit of $1.25 million in October 2021. Aqua Metals also committed a $2 million investment, paid in Aqua Metals shares, for a 10% ownership in LiNiCo.
Price Action: AQMS shares traded higher by 2.38% at $1.935 on the last check Thursday.