Aqua Metals, Inc. (AQMS) stock prices are down more than 10% as of the market opening on April 19th, 2021, setting in at USD$2.785. AQMS regained Nasdaq compliance to be relisted near the start of March 2021. The metal recycling company plans to revolutionize the sector landscape with its innovating AquaRefining technology.
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AQMS Insurance Claims
April 14th, 2021 saw the company announce its initial payment from its insurance claim in regard to business interruption. The max amount due from the third layer of insurance is resulting in a payment of nearly USD$1.4 million. The fourth and final insurance layer is also expected to payout USD$2 million, with a payment range of a maximum of USD$25 million.
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AQMS is also expecting further insurance proceeds on the basis of their property and business interruption claims, and current calculations and estimates. To date, the company has received USD$27 million in insurance proceeds in regard to a November 2019 fire event.
Foray into EV Battery Sector
Also promising are reports of advancements being made in the ongoing discussions of AQMS with potential licensees and equipment supply partners. The company is currently operating two Aqualyzers concurrently, while their product development continues gaining traction. Further progress is being made in the research and development of the application of their AquaRefining technology to lithium-ion recycling.
Merits of AquaRefining Technology
In accordance with the commencement of the lease-to-buy agreement of their plant, AQMS is allowed to continue using the facility to continue developing their AquaRefining technology during a transition phase with the new occupant’s who signed the agreement with AQMS. The patented hydrometallurgical technology is a low-temperature, water-based process that cleanly generates pure metal atoms one at a time. This closes the sustainability loop, which was a concern for the rapidly growing energy storage sector.
AQMS Stake in LiNiCo
February saw AQMS announce the purchasing of a 10% stake in LiNiCo with a USD$2 million stock investment. This move is an attempt from AQMS to wedge its way into the burgeoning lithium-ion battery recycling sector, a broadening of its typica scope of lead battery recycling. With electric vehicles becoming more and more popular, lithium-ion batteries and their recycling are expected to become very ubiquitous very soon. AQMS hopes to apply its AquaRefining technology, meant for lead batteries recycling, to the recycling of lithium-ion battery recycling.
Potential Outlook of AQMS
With much of the confidence in AQMS being speculative, the company needs to demonstrate its profitability in light of these developments. With the threat of delisting having been dealt with, AQMS is in a prime position to capitalize on instilling investor confidence.