Aqua Metals Acquires UK’s Ebonex

Aqua Metals, which is commercializing a non-polluting electrochemical lead recycling technology called AquaRefining, said early Tuesday it acquired UK-based Ebonex IPR Ltd in a cash and equity deal. The deal comprises 123,776 shares of the company’s common stock and $100,000 in cash, the company said in a statement.

Ebonex is a pre-revenue IP-based company that has developed patented technology in the field of advanced materials and manufacturing methods for advanced lead-acid batteries. “There is a multi-billion dollar market opportunity for advanced lead-acid batteries in upcoming automotive and stationary battery applications,” said Stephen Clarke, CEO of Aqua Metals. “Importantly, this acquisition will allow Aqua Metals to accelerate the introduction of higher value products and services to support these opportunities.”

By Bucky Rini