Aqua Metals (AQMS) announced operational milestones achieved at its pilot facility, demonstrating the effectiveness and scalability of its proprietary Li AquaRefining process. The company also announced the closing of a $1.5M bridge loan to fund operations, while the Company continues to pursue ongoing due diligence and strategic initiatives for long-term financing. Aqua Metals recently completed the first multi-week continuous operation campaign at its pilot facility outside Reno, demonstrating its ability to deliver exceptional recovery rates and produce battery-grade critical minerals. Key accomplishments include: High Recovery Rates: Achieved over 99% recovery rates for lithium, cobalt, and nickel from black mass using Aqua Metals’ proprietary leaching process and 100% recycled solvent, lowering recycling costs and eliminating waste. Battery-Grade Lithium Carbonate: Produced over 600 lbs. of battery-grade lithium carbonate to date in December. Nickel and Cobalt Production: Recovering nickel at 96.5%+ purity and cobalt at 99%+ purity levels. The Company has designed the Sierra ARC to achieve consistent battery-grade metals production. Enhanced Process Controls: Demonstrated advanced controls that improved throughput and efficiency, setting the stage for scalability at the commercial level. Continuous Operations: Successfully operated the pilot facility around the clock for three weeks, achieving over 90% uptime.
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