Aqua Metals and 6K Energy Sign Strategic Supply Agreement to Establish North America’s First Sustainable Lithium Battery Supply Chain
- None.
- None.
The agreement between Aqua Metals and 6K Energy presents a significant advancement in the realm of sustainable manufacturing and supply chain management. The environmental economic implications are profound, as this partnership is expected to set a precedent for circular economy practices in the critical battery metals sector. By supplying sustainably recycled materials, Aqua Metals is addressing the dual challenge of resource scarcity and environmental degradation. The estimated annual value of $50 million in materials also indicates a substantial economic opportunity.
Moreover, the alignment with the Inflation Reduction Act's domestic content incentives could stimulate further investment in green technologies. This move may encourage other firms to adopt sustainable practices to qualify for similar incentives, potentially leading to a multiplier effect within the economy. On a macroeconomic level, the increased capacity for domestic production of critical battery materials may reduce the United States' dependence on foreign supply chains, thereby enhancing national economic security and resilience.
The creation of North America's first sustainable circular supply chain for lithium-ion battery materials is a strategic move that could redefine industry benchmarks. The commitment to use up to 30% recycled feedstock by 6K Energy is a notable leap forward in supply chain sustainability. This initiative could serve as a blueprint for other sectors aiming to reduce their carbon footprint while maintaining cost-efficiency.
From a supply chain perspective, the partnership enhances risk management by diversifying the source of critical minerals and reducing reliance on volatile international markets. The integration of Aqua Metals' recycling technology and 6K Energy's low-carbon production process also represents an innovative approach to vertical integration, potentially leading to improved material traceability and quality control.
The strategic supply agreement underscores the importance of clean technology in contemporary industrial processes. Aqua Metals and 6K Energy's utilization of electrified processes that can be powered by clean energy aligns with global efforts to achieve net-zero operations. This is particularly relevant in the context of the battery industry, which is under scrutiny for its environmental impact.
The elimination of thousands of tonnes of sodium sulfate waste is a testament to the potential for technological innovation to resolve longstanding environmental issues associated with battery production. As the industry moves toward a sustainable future, the technologies developed and implemented by Aqua Metals and 6K Energy could become industry standards, influencing the direction of research and development investments in the sector.
Agreement includes Aqua Metals supply of critical battery metals from the Sierra ARC to the 6K PlusCAM™ facility commencing in 2024
RENO, Nev. and JACKSON, Tenn., March 26, 2024 (GLOBE NEWSWIRE) -- Aqua Metals (NASDAQ: AQMS) and 6K Energy announced the signing of a strategic supply agreement today, establishing North America's first sustainable circular supply chain for the critical minerals essential for manufacturing lithium-ion batteries. Aqua Metals will deliver sustainably recycled battery materials from its Sierra ARC facility in Reno, NV for 6K Energy to manufacture cathode active material (CAM) with a low carbon footprint at its PlusCAM™ facility in Jackson, TN.
This supply agreement marks a pioneering step in building North American battery manufacturing capacity that will qualify for domestic content incentives under the Inflation Reduction Act, aligning with the United States’ efforts to expand manufacturing capabilities, establish resilient supply chains, and reduce carbon emissions. Based on today’s metals prices, the materials supplied under this off-take agreement have an estimated value of more than
Steve Cotton, President and CEO of Aqua Metals, emphasized the transformative nature of this collaboration: "Our strategic agreement with 6K Energy represents a pivotal moment in our mission to build a more sustainable battery ecosystem from the ground up here in North America. Together, we are demonstrating the viability and economic benefits of closed-loop recycling for critical battery metals and laying the foundation for the US to claim leadership in this rapidly accelerating global industry."
Starting in 2024, Aqua Metals will supply 6K Energy with sustainably recycled critical minerals, ramping up to provide
6K Energy, leveraging its UniMelt® manufacturing process, stands at the forefront of low-carbon battery material production. "This agreement extends beyond a supply contract; it's a partnership aimed at redefining industry standards for environmental responsibility and cost-efficiency in battery material production. 6K Energy will be the first in North America to incorporate large quantities of sustainably recycled metals into our advanced battery materials using our low-cost, low-carbon footprint CAM production technology," stated Sam Trinch, President of 6K Energy.
As the United States expands lithium battery manufacturing capacity to nearly one terawatt-hour by 2030, the alliance between Aqua Metals and 6K Energy aims to establish North America’s only sustainable closed-loop supply chain for critical battery materials. This first-of-its-kind collaboration addresses the escalating demand for recycling manufacturing scrap and end-of-life batteries, and firmly positions the companies at the forefront of the movement towards a sustainable, resilient, and economically viable battery manufacturing ecosystem in the US.
The core of Aqua Metals’ and 6K Energy's position as pioneers of a sustainable supply chain lies in their innovative, electrified processes. Both companies utilize technologies that can be powered entirely by clean energy and have a clear pathway to net-zero operations in the future. Each company also eliminates the production of thousands of tonnes of sodium sulfate waste through their patented processes—a byproduct that traditional cathode production and recycling methods generate in significant quantities.
By leveraging their unique, clean technologies, Aqua Metals and 6K Energy are establishing a new standard for the industry, demonstrating that a truly sustainable closed-loop process for battery minerals is a vision for the future that is being built today.
About 6K
6K Inc. produces and innovates UniMelt microwave plasma technology for the localized production of critical materials. 6K’s UniMelt technology is applied across a vast range of markets, from additive manufacturing (6K Additive) and essential battery materials (6K Energy) to future growth sectors (6K Next). UniMelt plasma creates a path for true sustainability, reducing carbon emissions, lowering energy use, and utilizing recycled content to create a circular economy—all while lowering conversion costs and providing a secure, domestic supply chain. UniMelt is industrially operational, at scale, today, with our headquarters and Battery Center of Excellence in North Andover, MA, a 6K Additive production facility in Burgettstown, PA, and a full-scale PlusCAM battery material manufacturing plant in Jackson, TN.
For more information, visit www.6Kinc.com
About Aqua Metals
Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing metals recycling with its patented AquaRefining™ technology. The Company is pioneering a sustainable recycling solution for materials strategic to energy storage and electric vehicle manufacturing supply chains. AquaRefining™ is a low-emissions, closed-loop recycling technology that replaces polluting furnaces and hazardous chemicals with electricity-powered electroplating to recover valuable metals and materials from spent batteries with higher purity, lower emissions, and minimal waste. Aqua Metals is based in Reno, NV and operates the first sustainable lithium battery recycling facility at the Company’s Innovation Center in the Tahoe-Reno Industrial Center.
To learn more, please visit www.aquametals.com
Aqua Metals Social Media
Aqua Metals has used, and intends to continue using, its investor relations website (https://ir.aquametals.com), in addition to its Twitter, Threads, LinkedIn and YouTube accounts at https://twitter.com/AquaMetalsInc (@AquaMetalsInc), https://www.threads.net/@aquametalsinc (@aquametalsinc), https://www.linkedin.com/company/aqua-metals-limited and https://www.youtube.com/@AquaMetals respectively, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Safe Harbor
This press release contains forward-looking statements concerning Aqua Metals, Inc. Forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions, and other statements that contain words such as "expects," "contemplates," "anticipates," "plans," "intends," "believes," "estimates," "potential" and variations of such words or similar expressions that convey the uncertainty of future events or outcomes, or that do not relate to historical matters. The forward-looking statements in this press release include our ability to recycle lithium-ion batteries, the expected benefits of recycling lithium-ion batteries, our expectations for the benefits of our collaboration with 6K, our joint development with 6K of an economically viable technology to convert high purity metals into metal nitrate solutions, and our ability to enter into definitive agreements with 6K. Those forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially. Among those factors are: (1) the risk that Aqua Metals and 6K Energy may not successfully conclude their ongoing joint development of an economically viable technology to convert high purity metals into metal nitrate solutions, (2) Aqua Metals may not be able to enter into definitive agreements with 6K regarding the proposed joint venture, (3) even if the companies are to conclude a definitive agreement, the risk that Aqua Metals may not achieve the expected benefits from such relationship; and (4) those other risks disclosed in the section "Risk Factors" included in our Quarterly Report on Form 10-Q filed on November 8, 2023. Aqua Metals cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur, except as required by law.
Contact Information:
Aqua Metals Media
Contact: Jennifer Johnson Avril, Warner Communications
Phone: +1 917-982-9012
Jennifer@WarnerPR.com
6K Energy Media
Contact: Bruce Bradshaw, 6K Energy
Phone: +1 603-689-4597
Bruce.Bradshaw@6Kinc.com
Aqua Metals Investor Relations
Contacts: Bob Meyers & Rob Fink, FNK IR
Phone: +1 646-878-9204
AQMS@fnkir.com
Source: Aqua Metals and 6K Energy
FAQ
What is the nature of the agreement between Aqua Metals and 6K Energy?
Where will Aqua Metals supply battery materials from?
Where will 6K Energy manufacture cathode active material (CAM)?
What is the estimated value of the materials supplied under the off-take agreement?
What percentage of nickel and lithium carbonate will Aqua Metals provide to 6K Energy?
