Johnson Controls signed an agreement covering North America, China and Europe for an electrochemical battery recycling technology. Under terms of a multi-faceted deal, the company is investing in Aqua Metals, as per the press statement.
“Our partnership with Johnson Controls is a tremendous step forward and is an opportunity for us to work with the global leader in automotive battery manufacturing and responsible recycling,” said Dr. Stephen Clarke, chairman and CEO of Aqua Metals. “We will build on this exciting relationship in order to enable clean and efficient battery recycling around the world.”
Under the agreement Johnson Controls will also become the first licensee for AquaRefining technology; Supply Aqua Metals with batteries to recycle as a service, as part of the Johnson Controls closed-loop network; Purchase AquaRefined metals produced from Aqua Metals’ facilities; and acquire just below five percent of Aqua Metals outstanding shares, as per the press release.
“Agreements like this are a part of our continuing strategy to invest in clean technologies, building on our commitment to create a more sustainable and environmentally responsible industry,” said Joe Walicki, president of Johnson Controls Power Solutions.