Aqua Metals, a California based firm which has developed a clean process for recycling lead acid batteries, has finalised an investment agreement with Johnson Controls (JCI) covering North America, China and Europe.
Aqua Metals explained that under the multi-faceted deal JCI, a major manufacturer of lead acid batteries. will become the first licensee of its AquaRefining™ electrochemical battery recycling technology.
Aqua Metals, which recently opened its first plant in McCarran, Nevada, uses an advanced electrochemical process for recycling up to 120 tonnes of batteries per day.
As it scales up capacity the company said that it plans to hire hundreds of employees for existing and future operations across the United States.
"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," said Dr. Stephen Clarke, chairman and CEO of Aqua Metals. "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% 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," commented Joe Walicki, president of Johnson Controls Power Solutions.
For more on Aqua Metals, its technology and its plans for the future don’t miss the imminent Jan/Feb issue of Waste Management World. Subscribe HERE
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