Lead battery recycler Aqua Metals is expanding its metal processing scope by adding lithium-ion battery recycling capabilities through its investment in Linico, a technology driven startup company in the US.
The company recently announced entering a lease-to-buy arrangement for its AquaRefining plant in McCarran, citing a partnership was reached with a lithium-ion battery recycler. Aqua Metals will pay $2mn in company shares, for a 10pc stake in Linico, in line with its focus on expansion by allotting land to the new battery recycling endeavor while continuing to reach its lead recycling targets.
The lead processor plans to join three companies in total to advance new recycling strategies that also include Green Lion and Comstock Mining. The companies have backgrounds that cover mining and metals while also supplying high output volumes.
It is anticipated that approximately 705,000mt of lithium-ion batteries will reach end of life by 2025, increasing to 9mn mt per annum by 2040. Aqua Metals will use this potential opportunity to grow its lithium-ion business while also strengthening its AquaRefining division.