The company also reported progress in pilot-scale recycling of lithium iron phosphate (LFP) battery materials, achieving a significant reduction in fluorine content in produced lithium carbonate, positioning itself as a leader in quality within the recycling sector. Furthermore, Aqua Metals has initiated strategic partnerships and collaborations aimed at enhancing its role in the domestic critical minerals supply chain, including a multi-year supply agreement with 6K Energy for battery-grade nickel metal and lithium carbonate.
Financially, Aqua Metals has strengthened its liquidity through asset sales and capital raises, eliminating long-term debt and raising approximately $17.1 million to support its commercial-scale facility plans. The company reported cash and cash equivalents of approximately $10.8 million as of December 31, 2025, reflecting a solid financial position to advance its strategic initiatives.
CEO Steve Cotton emphasized the importance of these milestones, stating, "Our team delivered important milestones throughout 2025 that further validated the flexibility, scalability, and strategic positioning of AquaRefining™. We believe these achievements position Aqua Metals to play an increasingly important role in building a secure, low-carbon, domestic critical minerals supply chain." The company is set to host a conference call to discuss these results further, indicating a proactive approach to investor relations and transparency.