Better Health for All

The company's core business involves metal recycling, specifically lead-acid and lithium-ion batteries, using its AquaRefining™ process.

While this process is described as low-carbon, non-polluting, and designed to reduce emissions and toxic byproducts, these benefits primarily relate to environmental pollution control, which falls under 'Planet-Friendly Business' and is explicitly excluded from 'Better Health for All'. The company's products and services do not have a direct positive or negative impact on human health, nor do they involve medical treatments, preventative healthcare, or mental/physical wellness programs. Therefore, all KPIs related to direct health impact, harmful revenue, safety record, price accessibility, vulnerable reach, risk transparency, health innovation, health externalities, health equity, healthcare workforce support, preventative health, healthcare data responsibility, global health crisis response, mental health, pharma patents, nutrition, healthcare education, addiction mitigation, and clinical trial ethics are scored as 0 (Not Applicable) as they do not pertain to the company's operations within the scope of this value.

Fair Money & Economic Opportunity

Aqua Metals, Inc. is a metal recycling company and does not operate in the financial services sector.

The provided articles focus on its recycling technology, financial results, and a loan agreement for the company, not on offering financial services to consumers. Therefore, all KPIs related to fair money and economic opportunity, such as underserved client share, pricing fairness, exploitative fee exposure, inclusion initiatives, data accessibility, fair lending compliance, wealth building outcomes, financial literacy initiatives, debt burden ratio, geographic inclusion, and product simplicity, are not applicable to its business model. No evidence was found to suggest the company offers lending, deposit services, or other financial products to consumers or engages in community finance reinvestment.

Honest & Fair Business

Aqua Metals, Inc. adopted a whistleblower policy on January 19, 2022, which includes a hotline (1-833-215-0243) for anonymous reporting, with reports directed to the Audit Committee and corporate counsel.

The policy protects employees from retaliation for good faith reporting, and annual certification of compliance is required. However, the effectiveness of the program is not publicly measured. The company has not indicated any financial restatements in its recent SEC filings, including the 10-K for the fiscal year ended December 31, 2024, and is praised by auditors for clarity. A Code of Conduct, amended on May 3, 2024, requires compliance with the Foreign Corrupt Practices Act for international activities, prohibiting payments to foreign officials, and restricts gifts to less than $200 annually. However, the policy's training frequency and effectiveness metrics are not specified.

Kind to Animals

Aqua Metals, Inc. is listed by CrueltyFreeInvesting.org as a company that does not exploit animals.

This indicates an absolute global ban on animal testing and implies zero animals are used in any testing. The company's core business is metal recycling, specifically lead-acid and lithium-ion batteries. Due to the nature of its operations, several animal-related KPIs are not applicable, as there is no evidence of animal-derived products, animal husbandry, captive operations, or animal agriculture sourcing. This includes cruelty-free product certification, alternative testing usage, humane certification of operations, ethical input substitution, supplier audits for animal welfare, cage-free sourcing, and animal agriculture ethics. The company's innovation is focused on its AquaRefining™ technology for metal recycling, not on developing animal-free technologies or alternatives. There is no evidence of specific wildlife conservation initiatives with measurable biodiversity impact. Public policy engagement is focused on critical minerals, trade policy, sustainability, and energy security, not animal welfare.

Planet-Friendly Business

Aqua Metals' process is powered by 100% renewable, carbon-free energy, and the company uses renewable energy credits.

The company's partner facility will produce cathode active materials from 100% recycled battery materials. Aqua Metals' technology reduces landfill waste by 95% compared to current battery recycling processes and recycles the chemicals used in its closed-loop process. Aqua Metals has not recorded any major environmental compliance violations, and minor notices are addressed swiftly. The company recently conducted an environmental comparison using competitor data derived from Argonne National Laboratory's EverBatt model. Aqua Metals aims to build a resilient, transparent, and sustainable critical minerals infrastructure, but specific climate-impact disclosure for Tier 1-3 suppliers is not detailed. The company uses minuscule carbon offset fees. While a partner's technology aims to collect deep-sea nodules without disturbing visible life, this is a minimal pilot project, not a portfolio-wide biodiversity strategy for Aqua Metals.

Safe & Smart Tech

The company regularly conducts thorough assessments, proactive monitoring, and vulnerability scanning to identify and mitigate cybersecurity risks.

Strong password policies are enforced, and two-factor authentication is implemented for sensitive systems. Comprehensive cybersecurity policies and procedures are established, covering areas like data encryption, network security, and incident response, with oversight from the Board and Audit Committee. Regular employee training includes phishing and social engineering awareness, and employees annually certify compliance with the Code of Conduct, which prohibits unauthorized data use and requires protection of confidential information. No data breaches or incidents of unauthorized data use are documented. While a Whistleblower Hotline exists for misconduct reporting, no public bug bounty program is mentioned. The company's Code of Conduct mandates compliance with all applicable laws, and it acknowledges being subject to environmental, health, and safety regulations, having also addressed a Nasdaq minimum bid price non-compliance. , However, specific details regarding compliance with privacy regulations like GDPR or CCPA are not provided.

Zero Waste & Sustainable Products

Aqua Metals' core business is recycling, and its AquaRefining technology demonstrates strong performance in material recovery. The process achieves over 99% recovery rates for lithium, cobalt, and nickel, and 95%+ recovery of all valuable materials, with no sodium sulfate waste streams to landfill.

The company's output products, such as ultra-pure metals and battery-grade lithium carbonate, are inherently 100% recycled content and designed to be returned directly to the battery supply chain. The AquaRefining process is a closed-loop system that recycles chemicals and water, uses 100% recycled solvents, and generates fewer waste streams compared to traditional methods. An independent Lifecycle Analysis (LCA) showed an 83% reduction in carbon emissions compared to hydrometallurgy. The company has not incurred any waste disposal violations in the past three years. Aqua Metals aims to process 10,000 tons of black mass annually by 2025 and has a pathway to net-zero operations. However, specific quantitative waste reduction targets with timelines are not explicitly detailed. Waste audits are planned to be verified by a third party this year, indicating an annual frequency for major facilities. The company works with companies that collect, safely transport, store, crush, and separate spent lithium-ion batteries to generate black mass, and educates regulators and the public on the environmental benefits of its technology.