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Aqua Metals closes $13M capital raise

Aqua Metals (AQMS) closed a $13M registered direct offering with a leading institutional investor. The transaction was executed as a shelf takedown. Gross proceeds of $13M will further strengthen Aqua Metals’ balance sheet-already improved this quarter-and provide growth capital to advance the Company’s near-term commercialization and expansion initiatives. The offering enhances Aqua Metals’ financial flexibility and access to strategic growth funding as it transitions focus from pilot operations to commercial deployment. The Benchmark Company, a StoneX Company, served as sole placement agent and financial advisor for the transaction. Aqua Metals is conducting due diligence on two potential sites for its first commercial AquaRefining Campus facility, which will represent the next evolution of the Company’s low-emissions, economic recycling process. Each prospective site offers co-location synergies for both feedstock sourcing and product offtake, as well as favorable construction and operating cost profiles. Proceeds from the recent capital raise will be used to advance site-specific design and engineering plans, as well as to support permitting and pre-construction activities following completion of diligence and related agreements. Once operational, the first ARC facility is expected to show the scalability of Aqua Metals’ demonstration plant proven electro-hydrometallurgical process, providing what the Company believes would be the first domestic, sustainable alternative to conventional smelting and chemical refining of black mass.

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