RTTNews | Feb 17, 2021 10:43AM EST

10:43 Wednesday, February 17, 2021 (RTTNews.com) - Shares of lead battery metal recycling company Aqua Metals, Inc. (AQMS) are rising more than 19% Wednesday morning on the news of its investment in LiNiCo, a cleantech lithium-ion battery recycling innovator.

Aqua Metals has committed a $2 million investment, paid in shares, for a 10% ownership in LiNiCo, as part of its growth strategy by applying AquaRefining intellectual property to lithium-ion battery recycling while meeting its lead recycling commercial guidance.

Earlier, Aqua Metals and LiNiCo had reached a lease-to-buy agreement for the Aqua Metals' aquarefining facility.

Aqua Metals, with three other companies, including Green Li-ion, Pte, Ltd., LiNiCo, and and Comstock Mining Inc. plans to form an eco-network for advancing best-in-class technologies to recycle lithium-ion batteries at volume, both economically and sustainably.

"According to Yole Dveloppement, there will be about 705,000 tons of end-of-life lithium-ion batteries by 2025, and by 2040 they will hit 9 million tons per year. Aqua Metals recognizes this opportunity and intends to apply the same capital light business model we are employing for lead recycling to the challenge of lithium-ion recycling by developing an offering of equipment supply, services, and licensing to lithium-ion battery recyclers globally," said Steve Cotton, President and CEO of Aqua Metals.

AQMS touched a new 52-week high of $8.06 this morning before slipping to trade at $7.26 currently.

Read the original article on RTTNews ( https://www.rttnews.com/3170463/stock-alert-aqua-metals-jumps-19-after-taking-stake-in-linico.aspx)

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