Aqua Metals acquires UK based Ebonex IPR Limited
April 18, 2017
Aqua Metals, Inc., which is commercializing a non-polluting electrochemical lead recycling technology called AquaRefining, today announced that it has acquired UK-based Ebonex IPR Limited ("Ebonex"), for 123,776 shares of Aqua Metals common stock and $100,000 in cash. Ebonex is a pre-revenue IP-based company that has developed patented technology in the field of advanced materials and manufacturing methods for advanced lead acid batteries.
"A key part of our mission is to enable higher performance lead acid batteries and to leverage its leadership in the circular economy—where products can be built, used and recycled instead of ending up in the environment or landfill," said Dr. Stephen R. Clarke, Chairman and CEO of Aqua Metals. "We believe that there is a multi-billion dollar market opportunity for advanced lead acid batteries in upcoming automotive and stationary battery applications. Importantly, this acquisition will allow Aqua Metals to accelerate the introduction of higher value products and services to support these opportunities."
Ebonex's advanced materials have the potential to advance lead acid chemistry with higher energy density, increased cycle life and faster charging. If successful, this could mean high performance lead acid batteries that can be distributed through existing closed loop supply chains and then fully recycled.
"Working with this technology will allow us both to advance our own nano-structured lead based materials and leverage synergies with Ebonex materials. Together, we believe that we have the potential to significantly advance the performance and cycle life of lead acid battery chemistry, in an easily recycled product," said Dr. Clarke.