Advanced commercialization of AquaRefining technology, expanding its product platform and strengthening its financial position in 2025. Refined the commercial strategy for its first AquaRefining Campus (ARC) to prioritize battery-grade lithium carbonate and mixed hydroxide precipitate (MHP), a shift expected to more than double initial lithium output, improve margins, and support a targeted three-year payback. Achieved a major domestic battery-materials milestone by helping produce the first cathode active material made from 100% domestically sourced, recycled nickel, with material advancing through qualification by a tier-one battery manufacturer. Completed bench-scale testing and engineering analysis for recycling lithium iron phosphate (LFP) battery materials, and advanced to pilot-scale processing of LFP cathode scrap into battery-grade lithium carbonate. Produced lithium carbonate with fluorine content below 30 ppm, representing best-in-class quality in the recycling sector, and generated significant volumes of mixed hydroxide product for partner qualification. Strengthened liquidity through asset sales, reduced operating burn, and capital raises, while eliminating long-term debt. Raised $13.0 million in October 2025 from a leading institutional investor and reported total new funding of approximately $17.1 million. Reported cash and cash equivalents of approximately $10.8 million as of December 31, 2025. Executed a reverse stock split and subsequently regained compliance with Nasdaq's minimum bid price requirement, maintaining listing on the Nasdaq Capital Market.