The German chemical company BASF will begin supplying Aqua Metals’ electrolyte (which is a key component in the AquaRefining process) for all new licensee facilities and will be the preferred supplier partner to all licensees going forward.
According to the details of the arrangement, Aqua Metals will incorporate BASF’s product into every initial deployment and system fill while BASF will offer AquaRefining to its array of battery recycling clients.
The firms plan to research technical enhancements to improve the electrolyte formulations for elevated AquaRefining performance and an increased lifespan of the equipment.
Shares of Aqua Metals jumped this past Monday upon release of the partnership news.
The lead acid battery market is expected to grow from $46.6 billion in 2015 to $85.5 billion in 2025, according to Aqua Metals. With 96 percent of all rechargeable batteries being lead-based, the new partnership will prove profitable for both firms.
Aqua Metals accomplished its transition to a capital-light business model in 2020 and fully retired its debt before the end of the year. Shares have soared almost 400 percent since mid-December when that goal was completed.
