Aqua Metals Signs $105M Offtake LOI for Copper and Aluminum Production

Key Facts

1Aqua Metals signed a five-year LOI for the purchase of up to 100% of commercially saleable copper and aluminum from Project Headwaters.

2The agreement represents more than $105 million of projected value at current commodity prices.

Amid the growing shift toward sustainable battery recycling technologies, Aqua Metals has taken a strategic step to secure its future revenue streams. The company signed a five-year Letter of Intent (LOI) with a leading metals recycler for the purchase of up to 100% of commercially saleable copper and aluminum from its Project Headwaters. According to reports, this agreement aims to advance the commercial foundation for the company's planned domestic lithium-ion battery recycling platform.

The agreement represents more than $105 million in projected value over the five-year term, calculated based on current commodity prices. This move follows a previously established offtake framework for lithium products, effectively securing commercial pathways for all primary product streams at the facility before groundbreaking. Every numeric projection regarding the deal's value is derived from expected production volumes and prevailing market rates as cited in the corporate filing.

Regarding market performance, AQMS stock stood at $2.31 at the close of September 11, 2026, having traded between a day low of $2.22 and a high of $2.40. Investors should watch for the transition of this LOI into a definitive binding agreement and the company's progress in securing financing for the Headwaters facility. With no immediate catalysts in the upcoming economic calendar, focus remains on internal operational milestones and the formalization of these commercial partnerships.