Aqua Metals Files Provisional Patent for Lithium-Ion Battery Recycling
Exploring Opportunity to Expand AquaRefining Intellectual Property
MCCARRAN, Nev., Feb. 23, 2021 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS) ("Aqua Metals" or the "Company"), which is reinventing metals recycling with its AquaRefining technology,
announced it has filed a provisional patent for recovering high-value metals from recycled lithium-ion batteries. Early phase testing shows promise for applying AquaRefining methodology, used for
plating ultra-high purity lead, to plating the metals found in lithium-ion batteries such as cobalt, nickel, manganese, and lithium. Provisional patents allow up to one year to gather data in
support of a formal submission of the patent.
"Electric vehicles and clean energy storage will be key to the transition from our dependence on fossil fuels. This will result in millions of spent lithium-ion batteries with currently no sustainable method for recycling. We believe that expanding our patented AquaRefining hydrometallurgical approach to recycling the high-value metals of lithium-ion batteries is a smart, long-term strategy for Aqua Metals and in the best interest of our shareholders," said Steve Cotton, President and CEO of Aqua Metals. "As we designate part of our research and development budget to expand the potential of our IP, we remain squarely focused on commercializing our lead recycling business and anticipate our first licensing deal in the near future.”
Aqua Metal’s global market opportunity is being driven by rapidly decreasing ore resources, increasing government-sponsored requirements for companies to adopt sustainable recycling, and the emerging massive market demand for electric vehicles and clean energy storage. Lead is among the most recycled metals, with more than 6 million tons of it collected for reuse each year. The recycled lead market is predicted to surpass $19 billion by 2026, with a CAGR of 3.5% (Global Market Insights, Inc., March 2020). The global lithium-ion battery recycling market, a new potential sector for Aqua Metals, is projected to reach $19.4 billion by 2026, at a CAGR of 38.1% during 2021-2026 (Valuates Report – Nov. 2020).
About Aqua Metals
Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing metals recycling with its patented hydrometallurgical AquaRefining technology. Unlike smelting, AquaRefining is a room temperature, water-based process that emits less pollution. The modular Aqualyzers cleanly generate ultra-pure metal one atom at a time, closing the sustainability loop for the rapidly growing energy storage economy. The Company’s offerings include equipment supply, services, and licensing of the AquaRefining technology to recyclers across the globe. Aqua Metals is based in McCarran, Nevada. To learn more, please visit: www.aquametals.com.