Aqua Metals Inc (NASDAQ:AQMS) reported third-quarter results, detailing progress in lithium recycling, financing initiatives, and preparations for its Sierra AquaRefining Campus (ARC) in Nevada.
The company’s pilot facility has continued to demonstrate 24-hour operational capacity, producing high-purity, battery-grade lithium carbonate at over 99.5% purity, and claims to be the only US recycler delivering kilogram-scale quantities of battery-grade recycled lithium carbonate, demonstrating its Li AquaRefining technology’s scalability.
Aqua Metals hopes to expand to commercial-scale recycling as it seeks funding and partners to complete the phased buildout of Sierra ARC.
The company said it is reviewing term sheets for long-term financing and commercial agreements, with management engaged in due diligence.
Securing this capital is expected to facilitate a rapid, two-phase buildout, with ARC anticipated to begin commercial operations within six to nine months of final funding, initially processing 3,000 tonnes of black mass per year with an expansion goal to 10,000 tonnes.
In preparation, Aqua Metals has completed structural and infrastructure upgrades at the site, which has hosted visits from prospective industry partners, highlighting strong interest in the project.
Aqua Metals’ AquaRefining technology aims to lower both environmental impact and operational costs by eliminating sodium sulfate byproducts, a costly element of traditional recycling methods. The company projects substantial savings in chemicals, waste management, and regulatory expenses as ARC scales up.
Aqua Metals is also advancing commercial partnerships to secure a reliable supply of feedstock and offtake agreements to support its operations.
CEO Steve Cotton told investors that the team is “hard at work” on its strategic partnerships and preparing the Sierra ARC for commercial deployment.
“This quarter’s accomplishments and recent milestones showcase both the scalability of our technology and our commitment to building a financially resilient and environmentally sound recycling business,” Cotton said in a statement.
“We’re encouraged by the validation from industry leaders and are fully focused on bringing the Sierra ARC online to drive sustainable growth in the US battery materials supply chain.”