Aqua Metals announced a multi-year Material Supply Agreement to supply battery-grade nickel metal and lithium carbonate to 6K Energy.

Aqua Metals, Inc. (NASDAQ: AQMS), a pioneer in sustainable battery metals recycling and refining, today announced the execution of a multi-year Material Supply Agreement (MSA) with 6K Energy, a leading U.S.-based producer of advanced cathode active materials (CAM). The agreement establishes a commercial framework for the future supply of battery-grade nickel metal and lithium carbonate produced using Aqua Metals’ proprietary AquaRefining™ process.

Under the agreement, Aqua Metals and 6K Energy will align on product specifications, qualification pathways, and index-based pricing mechanisms to support the use of recycled and refined critical battery materials in domestic cathode manufacturing. The MSA has an initial three-year term and is designed to support 6K Energy’s leading CAM production process as market demand is expected to accelerate later this decade. 6K will have the option to purchase AQMS’ production of battery-grade nickel metal and lithium carbonate at prices based on the then current London Metal Exchange trading prices. The agreement contemplates material volumes that could represent tens of millions of dollars in annual battery-materials value, subject to qualification, market conditions, and scale-up. The MSA is being entered into by the parties with the expectation that 6K will complete its proposed battery material production facility and Aqua Metals will complete an expanded recycling facility.

Aqua Metals' proprietary AquaRefining™ process delivers significant environmental and economic advantages over conventional battery recycling methods. The technology achieves a 98% reduction in greenhouse gas emissions compared to standard hydrometallurgical processes while delivering approximately $1,100 per metric ton in cost savings. Unlike traditional methods, AquaRefining™ operates without hydrogen peroxide or sodium hydroxide, regenerates sulfuric acid for reuse, and produces zero sodium sulfate waste, creating a truly sustainable, closed-loop system.

“This agreement represents an important step in Aqua Metals’ transition from technology validation to customer-aligned commercialization,” said Steve Cotton, President and CEO of Aqua Metals. “By establishing a supply framework with a U.S.-based cathode manufacturer, we are aligning our battery-grade nickel and lithium products with downstream manufacturing requirements and building a clear pathway toward commercial integration.”

The agreement outlines quality and performance specifications for battery-grade nickel and lithium carbonate, as well as pricing structures tied to established market indices, including LME nickel and Fastmarkets lithium carbonate benchmarks. The framework is intended to support future volumes as Aqua Metals advances its commercialization plans and as 6K Energy expands domestic CAM production.

In addition to defined supply terms, the agreement reflects a shared focus on strengthening U.S. battery supply chains and reducing reliance on overseas refining and processing. Materials supplied under the agreement are expected to meet Foreign Entity of Concern (FEOC) compliance requirements, supporting broader efforts to build secure, resilient, and transparent domestic battery materials infrastructure.

“A reliable supply of high-purity, compliant battery materials is essential to scaling cathode manufacturing in the United States,” said Saurabh Ullal, President of 6K Energy. “This agreement with Aqua Metals creates a framework to evaluate and integrate recycled and refined nickel and lithium materials that meet our technical requirements while supporting our domestic sourcing objectives.”

The MSA also provides optionality for future collaboration, including the potential evaluation of tolling arrangements for lithium-ion battery black mass. This flexibility reinforces Aqua Metals’ strategy to develop a feedstock-agnostic refining platform capable of supporting multiple battery chemistries, including both nickel-based and lithium iron phosphate (LFP) systems, as the market continues to evolve.

Aqua Metals views the agreement as a commercialization milestone that complements its broader portfolio of partnerships and pilot-scale achievements. By aligning with downstream manufacturers on specifications, pricing, and compliance, the company continues to advance its goal of delivering low-carbon, domestic refining solutions for critical battery materials

http://www.datamonitor.com
Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall 
not be liable for errors or delays in the content, or for any actions 
taken in reliance thereon
COMTEX_472245679/2227/2026-01-22T18:12:59