Bullish indicating open at $55-$60, IPO prices at $37
RENO, Nev. - Aqua Metals, Inc. (NASDAQ: NASDAQ:AQMS) announced today the addition of two new members to its Board of Directors, aiming to strengthen the company’s expertise in the fields of automotive chemicals, manufacturing, and financial strategy. Steve Henderson and Eric Gangloff have been appointed to the board, bringing in their extensive experience to support the company’s growth in clean metals recycling and the development of a domestic supply chain for critical minerals. The appointments come at a crucial time for the company, which according to InvestingPro data, has a market capitalization of $14.91 million and faces challenges with cash burn and short-term liquidity, indicated by a current ratio of 0.59.
Steve Henderson comes to the board with over 40 years of experience in the automotive and specialty chemicals sectors. His tenure at Leggett & Platt as Executive Vice President saw him supervising businesses that generated more than half of the company’s revenue and EBITDA. Henderson’s prior role at Dow Chemical (NYSE:DOW) included leading the company’s automotive division and fostering advancements in battery material innovations, collaborating with major industry players such as Tesla (NASDAQ:TSLA), Ford (NYSE:F), and Magna.
Eric Gangloff brings a wealth of knowledge from the financial sector, with a background in capital markets, debt financing, and investment management. As the founder of Summit Alternative Investments and Chairman and CEO of AmeriFirst Finance, Gangloff has executed complex financial transactions with institutions like Goldman Sachs and Deutsche Bank (ETR:DBKGn). His expertise is expected to be a significant asset in structuring financing solutions as Aqua Metals moves toward commercial-scale operations.
Aqua Metals is at the forefront of advancing the AquaRefining™ technology, which offers a more sustainable and cost-effective approach to recycling lithium batteries. The process is designed to be low-carbon and closed-loop, eliminating the need for harmful smelting processes and reducing reliance on foreign supply chains. The appointments of Henderson and Gangloff are seen as strategic moves to enhance the company’s commercial partnerships, secure necessary financing, and expedite the development of its Sierra ARC facility. For investors seeking deeper insights, InvestingPro offers comprehensive analysis with 16 additional ProTips and detailed financial metrics that could help evaluate the company’s growth potential.
This announcement comes at a pivotal moment for Aqua Metals as it strives to scale its innovative recycling process to meet the growing demand for lithium, nickel, and cobalt—key materials in electric vehicles and energy storage systems. While the company reported a net loss of $27.14 million in the last twelve months, analysts have set an optimistic price target of $40 per share, suggesting significant potential upside if the company successfully executes its growth strategy. According to InvestingPro’s Fair Value analysis, the stock currently appears to be trading below its intrinsic value.
The information in this article is based on a press release statement from Aqua Metals, Inc.
In other recent news, Aqua Metals, Inc. has announced several significant developments. The company aims to double its initial production targets of battery-grade lithium carbonate at its forthcoming commercial-scale AquaRefining™ facility, a strategic move expected to expedite revenue growth and margin improvement. Aqua Metals has also secured a $1.5 million bridge loan, with over 50% funded by management and board members, to maintain operational momentum while finalizing long-term financing.
The company’s pilot facility has successfully produced battery-grade lithium and high-purity nickel and cobalt, marking key operational milestones. Furthermore, the company reported over 99% recovery rates for lithium, cobalt, and nickel from black mass at its pilot plant. Despite a net loss of approximately $5.2 million for Q3 2024, Aqua Metals remains optimistic about securing future funding and partnerships.
Aqua Metals is actively discussing partnerships with feedstock suppliers and off-take partners to align with its accelerated commercialization plan. The company anticipates providing updates on its engagements with financial backers, feedstock supply, and off-take partners later in the first quarter. These recent developments underscore the company’s commitment to sustainable lithium battery recycling, and its innovative approach to refining high-purity metal.
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