Under terms of a multi-faceted deal, which covers North America, China and Europe, Johnson Controls is investing in Aqua Metals and will become the first licensee of Aqua Metals’ patent-pending AquaRefining technology.
“Our partnership with Johnson Controls is a tremendous step forward and is an opportunity for us to work with the global leader in automotive battery manufacturing and responsible recycling,” Dr. Stephen Clarke, chairman and CEO of Aqua Metals, said in a press release. “We will build on this exciting relationship in order to enable clean and efficient battery recycling around the world.”
Under the agreement, Johnson Controls will:
Become the first licensee for AquaRefining technology
Supply Aqua Metals with batteries to recycle as a service, as part of the Johnson Controls closed-loop network
Purchase AquaRefined metals produced from Aqua Metals’ facilities
Acquire just under 5 percent of Aqua Metals outstanding shares
“Agreements like this are a part of our continuing strategy to invest in clean technologies, building on our commitment to create a more sustainable and environmentally responsible industry,” Joe Walicki, president of Johnson Controls Power Solutions, said in a press release.
Aqua Metals’ (NASDAQ: AQMS) AquaRefining technology uses an advanced electrochemical process for recycling batteries. Unlike smelting, AquaRefining is a room temperature, water-based process that is fundamentally non-polluting. These modular systems allow the lead-acid battery industry to simultaneously improve environmental impact and scale production to meet rapidly growing demand.
As it scales up capacity, the company plans to hire hundreds of employees for existing and future operations across the U.S.
Aqua Metals is based in Alameda, Calif. To learn more, visit www.aquametals.com or follow on Twitter at @AquaMetalsInc.
Johnson Controls (NYSE: JCI) is a global diversified technology and multi-industrial leader serving a wide range of customers in more than 150 countries. Its 130,000 employees create intelligent buildings, efficient energy solutions, integrated infrastructure and next generation transportation systems to work together to create smart cities and communities. Johnson Controls’ commitment to sustainability dates back to 1885 with the invention of the first electric room thermostat. For additional information, please visit http://www.johnsoncontrols.com or follow on Twitter at @johnsoncontrols.
Johnson Controls Power Solutions is the world’s largest manufacturer of automotive batteries, supplying approximately 152 million every year to automakers and after market retailers. Johnson Controls’ recycling system has helped make automotive batteries the most recycled consumer product in the world. Globally, 15,000 employees develop, manufacture, distribute and recycle batteries at more than 50 locations. For more information, please visit http://www.JohnsonControls.com/PowerSolutions or follow @JCI_BatteryBeat on Twitter.