Nov 10 (Reuters) - Aqua Metals ( AQMS ) said on Monday

it has signed a non-binding letter of intent with Westwin

Elements, the only major U.S. nickel refinery, to supply up to

1,000 metric tons of recycled nickel carbonate a year starting

in 2027.

The potential deal, valued at around $12 million annually

based on current nickel prices, aims to strengthen domestic

production of critical minerals used in batteries and clean

energy systems.

The companies are looking build one of the first fully

domestic, recycled nickel supply chains, from battery waste to

refined metal, as the U.S. pushes to secure clean, homegrown

sources of critical materials and cut reliance on imports.

Aqua Metals ( AQMS ) said the agreement follows successful testing of

its battery-grade nickel carbonate made from recycled

lithium-ion battery material at its Nevada pilot plant.

Under the LOI, the companies plan to finalize terms for Aqua

Metals ( AQMS ) to supply between 500 and 1,000 metric tons of nickel

carbonate a year once both complete their commercial facilities

and secure financing.