Aqua Metals Inc

Aqua Metals reported second quarter 2026 results and advanced its phased commercialization plan for the Headwaters ARC battery recycling campus. The company is in final site-specific diligence and negotiations for a Midwest development opportunity that includes an existing 150,000-square-foot industrial facility on approximately 50 or more acres, located near six major LFP gigafactory projects. Phase 1 will deploy commercially proven preprocessing equipment to recover copper, aluminum and high-grade black mass from segregated LFP battery materials, establishing a pathway to revenue, while Phase 2 will integrate AquaRefining™ to upcycle black mass into battery-grade lithium carbonate, iron phosphate and graphite. The company ended the quarter with $4.7 million in cash and a net loss of $4.5 million, and expects to announce its selected development path during the current quarter.