Battery Recycler That Jumped 1,000% Plunges After US Grant Loss

Lithium-ion battery recycler Aqua Metals Inc. saw its stock price soar by over 1,000% in the past year, but has now experienced a sharp decline following the cancellation of a crucial US government grant. The company, which uses a low-emissions recycling process to recover valuable metals from batteries, had been awarded a $2 million grant from the US Department of Energy. However, this grant was recently canceled, leading to a significant drop in Aqua Metals' share price. The loss of the grant is a significant setback for the company, as it had planned to use the funds to expand its operations and further develop its recycling technology. The news has raised concerns about the company's financial stability and its ability to compete in the rapidly growing battery recycling market. Despite the recent plunge, Aqua Metals remains a key player in the industry, and its innovative recycling process continues to attract attention from investors and industry experts.