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Agreement signedPublished 11 Feb 2026

Aqua Metals, Inc. /
Lion Energy, LLC

Aqua Metals outlines potential acquisition of Lion Energy

Buy side: Aqua Metals, Inc.
Buy sideAqua Metals, Inc.
Target: Lion Energy, LLC
TargetLion Energy, LLC
Aqua Metals, Inc. · 11 Feb 2026Source
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Buy side: Aqua Metals, Inc.
Buy sideAqua Metals, Inc.
Target: Lion Energy, LLC
TargetLion Energy, LLC
01 / BuyerAqua Metals, Inc.
02 / TargetLion Energy, LLC
Source for the buyer and target: Aqua Metals, Inc.

For the buyer and target.

“Reno, NV and American Fork, UT [February 11, 2026] — Aqua Metals, Inc. (NASDAQ: AQMS), a pioneer in battery metals recycling and refining, today announced that it has entered into a term sheet to acquire Lion Energy, LLC, a U.S.-based provider of commercial, residential, and distributed energy storage systems, consumer power solutions, and proprietary energy management software.”

Published 11 Feb 2026

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01

What happened

Aqua Metals, Inc. entered into a term sheet with Lion Energy, LLC and certain members of Lion Energy for Aqua Metals to acquire all of Lion Energy’s issued and outstanding equity interests. The transaction remains subject to a definitive acquisition agreement and specified conditions. [01]

The term sheet caps aggregate consideration at One Hundred Million Dollars ($100,000,000), including upfront consideration and potential earn-out consideration. [01]

02

The source

Everything on this page comes from the source below, quoted word for word.

01
Source · Aqua Metals, Inc.

Aqua Metals outlines potential acquisition of Lion Energy

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03

Timeline

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  1. Published by Aqua Metals, Inc.

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