Aqua Metals Inc. (NASDAQ: AQMS) has announced a definitive agreement with ACME Meta Enterprise Co to use and licensed AquaRefining equipment at the Keelung Facility in Taiwan.
Aqual Metal and ACME Meta Enterprise enter a definitive agreement
The deal was finalized in less than a month after both firms signed a Letter of Intent (“LOI”) on July 1, 2021, giving them 60 days to achieve a definitive agreement. The agreement specifies terms for licensing AquaRefining to ACME and collaborating with ACME on the possibility of licensing AquaRefining to additional parties in Taiwan.
Equally, the agreement also establishes a phased rollout of AquaRefining technology and provisions for collaboration between ACME and Aqua Metals and a large battery manufacturer to create a second methodology for direct oxide production from AquaRefined material. As a result, this will reduce costs, improve safety, and streamline the link between battery recycling and new battery manufacturers.
AquaMetal to send Aqualyzers in the coming quarter
Currently, ACME refines lead into lead alloys for sale to battery makers around the world. Because of the collaboration, ACME will be able to use AquaRefining as the only proven green technology for recycling lead in the world’s largest and fastest-growing lead recycling sector. Aqua Metals plans to start sending Aqualyzers and related equipment to ACME soon for deployment in the first phase set to start in Q4 2021. The Aqualyzers will allow ACME to produce high purity lead metal in Taiwan while reducing pollution and increasing worker safety.
Aqua Metals CEO and President Steve Cotton said, “ACME’s rapid progression from an LOI to a signed contract as our first licensee and a partner in developing the ball mill oxide process is a powerful vote of confidence for our patented AquaRefining process. The fact that we are the only commercially proven sustainable alternative to smelting for recycling lead has created a robust pipeline, and we are very busy working through additional global opportunities.”