Aqua Metals Raises $17.1M, Advances Pilot LFP Recycling and ARC Facility Plans
Aqua Metals achieved pilot-scale LFP recycling, produced low-fluorine (<30 ppm) lithium carbonate, validated 100% recycled nickel cathodes and designed a 10,000–60,000 t/year ARC facility. It raised $17.1 million, reached $10.8 million cash, eliminated debt and secured supply agreements with 6K Energy and Westwin.
1. 2025 Commercial Milestones
Aqua Metals refined its AquaRefining™ platform by achieving pilot-scale recycling of lithium iron phosphate scrap into battery-grade lithium carbonate with fluorine content below 30 ppm, validated production of 100% domestically recycled nickel cathode material, and advanced the design of a commercial ARC facility capable of processing 10,000–60,000 metric tons per year.
2. Financial Strengthening
The company bolstered its balance sheet by raising $17.1 million in October 2025, reporting $10.8 million in cash as of December 31, 2025, eliminating long-term debt, and executing a reverse stock split to regain compliance with Nasdaq Capital Market listing requirements.
3. Strategic Partnerships and Expansion
Aqua Metals secured multi-year supply agreements and MOUs with 6K Energy, Westwin Elements, Impossible Metals, and MOBY Robotics, positioning its AquaRefining™ technology for broader integration into the domestic critical minerals supply chain and exploring energy storage, seabed mineral refining, and downstream battery manufacturing opportunities.