Curated News
By: NewsRamp Editorial Staff
July 05, 2024
Aqua Metals Secures $33M Loan for Commercial-Scale Lithium Battery Recycling Plant
Discuss on Reddit
Discuss on LinkedIn
Discuss on SubstackTLDR
- Aqua Metals secures $33 million credit facility for commercial-scale lithium battery recycling, gaining an edge in sustainable battery manufacturing.
- Aqua Metals' first phase involves renovating a 20,000-square-foot building into a lithium battery recycling plant with a 3,000-ton capacity.
- Aqua Metals' technology reduces waste and CO2 emissions, contributing to a sustainable future for lithium battery recycling and combating climate change.
- Aqua Metals' innovative technology uses electricity to extract valuable metals from spent lithium batteries, revolutionizing traditional recycling methods.
Impact - Why it Matters
This news matters because it marks a significant milestone in sustainable battery recycling and supports the development of a circular supply chain for critical minerals. The investment will help combat climate change and pollution while bolstering the financial stability and innovation of Aqua Metals, ultimately contributing to the growth of the battery manufacturing industry in the United States.
Summary
Nevada-based Aqua Metals (NASDAQ: AQMS) has signed a non-binding term sheet for a $33 million credit facility with a major private company to fund its commercial-scale lithium battery recycling operation. This follows an $8 million equity raise and an independent engineering report validating the environmental benefits of Aqua Metals' technology. The loan would complete phase one of the Sierra AquaRefining Campus, making it North America's first sustainable lithium battery recycling operation and supporting the burgeoning battery manufacturing industry in the United States.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Aqua Metals Secures $33M Loan for Commercial-Scale Lithium Battery Recycling Plant
