Aqua Metals plans to acquire Lion Energy through an all-stock deal that will see Lion Energy owners receive approximately $25.8 million in Aqua Metals capital stock, with additional shares worth up to $65 million based on Lion Energy's revenue and EBITDA performance in the year following the close. The transaction aims to integrate Lion Energy's solutions, brand, intellectual property, and manufacturing capabilities with Aqua Metals, creating a comprehensive domestic power platform spanning battery manufacturing, deployment, grid participation, and end-of-life recovery. Lion Energy will operate as a wholly-owned subsidiary of Aqua Metals, retaining its current executive and management team. The deal also includes Aqua Metals acquiring Lion Energy's minority stake in American Battery Factory, further advancing a full-lifecycle approach to battery technology. Completion remains subject to customary closing conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Aqua Metals Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9652641-en) on February 11, 2026, and is solely responsible for the information contained therein.