Shares of lead acid battery recycler
Aqua Metals (NASDAQ:AQMS) popped nearly 15% in early trading on the Nasdaq Monday before subsiding to about a 5.3% gain by 1:30 p.m. Even with this smaller gain, however, Aqua Metals stock is up more than 17% over its past two trading days.
And
Image source: Getty Images.
So what
In the middle of the trading day Friday, you see, Aqua Metals announced that it has received notification from Nasdaq regulation staff that it is once again in full compliance with Nasdaq s rules for keeping its listing on the stock exchange.
For some time, this had been in doubt because Aqua Metals stock had traded below $1 in share price for the better part of 2020 even before the coronavirus pandemic threw the economy into a recession. On Jan. 23, 2020, the company received a notice from Nasdaq informing it that, unless it achieved a $1-plus stock price and retained it for a minimum of 10 consecutive business days, its shares might be delisted.
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What happened
Shares of lead recycling specialist
Aqua Metals (NASDAQ:AQMS) rose a dramatic 30% in the first hour or so of trading on Jan. 26. That follows on material gains the day before, when it was up around 20% or so. The big news behind both moves was a deal with global chemical giant
BASF.
So what
There has been a lot of change in Aqua Metals business of late. For example, it paid off all of its debt in 2020 and, more important, shifted to an asset-light model. A fire at a facility using the company s technology in late 2019 disrupted its business and helped push forward the change process, which started in 2018. The change in focus got a big boost yesterday when Aqua Metals agreed to partner with BASF on the production of chemicals used in Aqua Metals patented lead recycling technology.
Aqua Metals and BASF Establish Global Partnership Companies Will Cooperate to Offer AquaRefining to Battery Recyclers and Explore Enhanced BASF Made Electrolyte for AquaRefining
January 25, 2021 08:00 ET | Source: Aqua Metals Aqua Metals McCarran, Nevada, UNITED STATES
MCCARRAN, Nev., Jan. 25, 2021 (GLOBE NEWSWIRE) Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”), which is reinventing lead recycling with its AquaRefining™ technology, announced it has partnered with BASF to supply electrolyte, cooperate commercially, and explore technical improvements to enhance AquaRefining performance.
BASF will provide the initial supply of Aqua Metals’ electrolyte for all new licensee facilities and will be the preferred supplier partner to all licensees for ongoing electrolyte needs. The specially formulated AquaRefining electrolyte is the key chemical compound used in the AquaRefining process.