Aqua Metals, Inc.

the Aqua Metals second quarter financial results call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. You can submit a question via the web at any time by typing them in the ask a question field on your screen. If connected by phone, to queue up for a telephone question, press star one. To queue up for a question, press star two to remove yourself from the queue. Please note that this conference call is being recorded. I will now turn the conference over to our host, Bob Myers of FNKIR. You may begin.

Thank you, Operator, and thank you, everybody, for joining. Earlier today, Aqua Metals issued a press release providing an operational update and discussing financial results for the second quarter ended June 30, 2025. This release is available in the Investor Relations section on the company's website at aquametals.com. Hosting the call today are Steve Cotton, President and Chief Executive Officer, and Eric West, Chief Financial Officer. Before we begin, I would like to remind participants that during the call, management will be making forward-looking statements. Please refer to the company's report on Form 10-Q filed today, August 13th, for a summary of the forward-looking statements and the risks, uncertainties, and other factors that could cause action results to differ materially from those forward-looking statements. Aquamentals cautions investors not to place undue reliance on any forward-looking statements. The company does not undertake and specifically disclaims any obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur except as required by law. As a reminder, after the formal remarks, we will be taking questions. Questions will be accepted on the call from analysts and all other investors can submit a question using the webcast portal provided in today's and earlier press releases. We will take as many questions as we can in our available time slot. And with that, I'd like to turn the call over to Steve Cotton, CEO of Aqua Metals. Steve, please go ahead.

Thank you, and good afternoon, everyone. This past quarter has been a defining period for Aqua Metals. We advanced our commercialization roadmap, achieved new technical milestones, and strengthened our financial position. all of which position us for successful market entry. First, on the technology front, we produced lithium carbonate with fluorine content below 30 parts per million, which is likely a best-in-class result globally for recycled lithium. This meets and exceeds the strict specifications of cathode-active material producers, and we've already produced approximately 100 kilograms for strategic counterparties to evaluate. We produced over one metric ton of high purity NMC or nickel manganese cobalt mixed hydroxide cake for qualification sampling with potential partners. We believe this material could integrate directly into the value chain at the PCAM step or precursor cathode active material step, creating efficiencies over producing independent sulfate streams. We continued exploring alternative feedstocks. successfully testing nickel refinery residue and preparing to test undersea nodules rich in nickel and cobalt later this year. We also began trials for sodium sulfate regeneration technology, an innovative process that could help PCAM producers convert sodium sulfate waste into sulfuric acid and sodium hydroxide, which can be recirculated back into their process. This not only reduces chemical costs, but also minimizes waste streams. Second, on scalability. We began designing a modular, scalable commercial arc facility capable of processing between 10,000 and 60,000 metric tons of black mass annually. This design will serve as a clear blueprint for scaling arc refining to meet growing demand. We are already in discussions with potential strategic partners who could support a phased build-out. Third, on cost competitiveness. Our internal analysis shows that aqua refining in the U.S. is a cost competitive with Chinese hydrometallurgical recycling and operates at roughly half the cost of traditional U.S. hydrometallurgical methods. This is a critical milestone, proving that sustainability and competitiveness can go hand in hand. Finally, we continue to engage with potential strategic partners. We believe collaboration among recyclers, CAM producers and technology innovators will be essential to building a fully domestic closed-loop battery materials supply chain, something still largely absent at commercial scale in the United States. Our progress this quarter shows that Aquametals is not just preparing to participate in that market. We are positioning ourselves to help define that. With that, I will turn the call over to our CFO, Eric West, to review the financials. Go ahead, Eric.