# Aqua Metals, Inc.

Aqua Metals, Inc. is an other based in Reno.

## Overview

- **Organization type:** other
- **Headquarters:** Reno
- **Assets under management:** Undisclosed
- **Website:** aquametals.com
- **LinkedIn:** https://www.linkedin.com/company/aqua-metals-limited

## Regulatory record

- **Reports private funds:** No

## About

Aqua Metals, Inc. was founded in 2014 and is headquartered in Reno, Nevada. The company develops and commercializes its AquaRefining technology, a modular, room-temperature electrochemical process designed to recycle lead from spent lead-acid batteries with lower emissions and energy use than conventional smelting. The firm operates as a public technology company rather than a traditional investor or family office. Aqua Metals deploys capital toward building and scaling its recycling facilities, with a focus on the North American market. The company has disclosed partnerships with entities such as the Department of Energy and the Battery Council International to advance its recycling technology. Its business model involves licensing its technology to third-party recyclers or operating its own recycling plants. Asset classes include industrial real estate, manufacturing equipment, and intellectual property. The firm reported a market capitalization of approximately $20 million as of mid-2024, with no publicly disclosed AUM or deployment figures typical of an asset manager. Its public listing on the Nasdaq (ticker: AQMS) provides transparency in financial filings but does not indicate a fund management structure. The company maintains a single headquarters in Reno, Nevada, with additional operations limited to its recycling pilot plant. Aqua Metals' structural differentiator is its focus on proprietary clean technology within a heavily regulated industry, rather than operating as a financial allocator or family office. The company relies on equity and capital markets financing rather than investment partnerships, making it distinct from investment vehicles typically covered by Altss.

## Sectors

- Battery Recycling
- Critical Minerals
- Clean Technology

## Questions

### What is Aqua Metals' core business?

Aqua Metals operates as a public clean technology company, not a family office or asset manager. Its business focuses on developing and commercializing AquaRefining, a proprietary electrochemical process for recycling lead and other metals from spent lead-acid batteries, aiming to replace traditional smelting (public record, 2024).

### What investment stages or asset classes does Aqua Metals focus on?

Aqua Metals invests in its own technology development and manufacturing infrastructure, including R&D, pilot plants, and potential commercial-scale recycling facilities. These are direct capital expenditures, not external portfolio investments. The company has not disclosed participation in direct co-investments or fund-of-funds.

### How does Aqua Metals source its technology?

The AquaRefining technology is internally developed and patented. The company has received grants and support from the U.S. Department of Energy and other entities to advance its research, but does not source deals from external partners in the traditional investment sense (per DOE partnership disclosures, public record).

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Last updated: 2026-07-10T23:24:51.000Z

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