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AQMS - Aqua Metals Inc News Story

$3.12 0.2  5.8%

Last Trade - 16/04/21

Sector
Basic Materials
Size
Small Cap
Market Cap £152.9m
Enterprise Value £148.4m
Revenue £78.1k
Position in Universe 4470th / 6850

Aqua Metals Achieves Significant Improvements to its Sustainability Focused Battery Recycling Technology

Mon 28th December, 2020 1:00pm
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MCCARRAN, Nev., Dec. 28, 2020 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ:
AQMS) (“Aqua Metals” or the “Company”), which is reinventing lead
recycling with its AquaRefining™ technology, announced it has completed its
V1.25L electrolyzer program on time and under budget, achieving lead
production that is 100% greater compared to the V1.0 electrolyzer deployed at
the AquaRefinery during commercial production in 2018 and 2019. The Company
previously guided a 20% increase of throughput, yet the V.125L electrolyzer
surpassed that guidance by 500%. The V1.25L program concluded with a multi-day
24/7 endurance run that ended on December 24(th).

These results should positively impact capital and operating expenses for our
future equipment supply and licensee customers. The doubling of throughput
results in a 50% reduction in the number of electrolyzers needed for
equivalent lead production. V1.25L also has a lower build cost and reduced
assembly time compared to the V1.0 electrolyzer, which correlates to a 50%
decrease in capital expenditures for Aqua Metals equipment installations. In
addition, electrolyzer operating expenses have been reduced by greater than
60% compared to the V1.0 electrolyzer, with the combined impact of
improvements in automation and increased throughput. The current design has a
single button start and stop functionality with no manual interaction required
during operation, along with automated maintenance capability. The 60%
reduction in operating expenses and 50% reduction in capital expenditures
greatly exceeds the targets that were set in early 2020.

“We are very pleased with the results of the V1.25L program which was
completed on schedule and under budget,” said Steve Cotton, President and
CEO of Aqua Metals. “The results give us the ability to communicate a
greater value proposition to future customers and should positively impact our
economics of equipment supply and licensing agreements. We chose to focus our
2020 efforts on product improvement in support of accelerating our strategic
shift to an equipment plus services supplier and a licensor of our technology.
We believe the improvements realized with V1.25L position us quite well as
product ready in the ongoing discussions we’ve been having with recyclers
all over the globe.”

“I am extremely proud of the Aqua Metals team,” Cotton added. “Our
dedicated staff has performed beyond expectations. The economic improvements
to AquaRefining that we achieved strengthens our position tremendously to help
the lead battery industry go greener and safer. Cleaner recycling makes lead
batteries a truly sustainable solution for an energy storage market that is
becoming an increasingly critical part of the fast-developing sustainable
energy-based economy.”

About Aqua Metals

Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing lead recycling with its
patented AquaRefining™ technology. Unlike smelting, AquaRefining is a room
temperature, water-based process that emits less pollution. The modular
systems are intended to allow the Company to vastly reduce environmental
impact and scale lead acid battery recycling production capacity by supplying
equipment, services and licensing the AquaRefining technology to partners.
This could help meet the growing demand for lead to power new applications
including stop/start automobile batteries which complement the vehicle’s
main battery, lead acid batteries which are in electric vehicles, Internet
data centers, alternative energy applications including solar, wind, and grid
scale storage. Aqua Metals is based in McCarran, Nevada. To learn more, please
visit www.aquametals.com.

Aqua Metals has used, and intends to continue using, its investor relations
website (https://ir.aquametals.com), in addition to its Twitter, LinkedIn and
YouTube accounts at https://twitter.com/AquaMetalsInc (@AquaMatalsInc),
https://www.linkedin.com/company/aqua-metals-limited and
https://www.youtube.com/channel/UCvxKNWcB69K0t7e337uQ8nQ respectively, as
means of disclosing material non-public information and for complying with its
disclosure obligations under Regulation FD.

Safe Harbor

This press release contains forward-looking statements concerning Aqua Metals,
Inc. Forward-looking statements include, but are not limited to, our plans,
objectives, expectations and intentions and other statements that contain
words such as "expects," "contemplates," "anticipates," "plans," "intends,"
"believes", "estimates", "potential" and variations of such words or similar
expressions that convey uncertainty of future events or outcomes, or that do
not relate to historical matters. The forward-looking statements in this press
release include our expectations for the benefits of the V1.25 electrolyzer;
and the future of lead acid battery recycling via traditional smelters. Those
forward-looking statements involve known and unknown risks, uncertainties and
other factors that could cause actual results to differ materially. Among
those factors are: (1) the risk that we may not realize the expected benefits
from our V1.25 electrolyzer; (2) the risk that our insurance recovery from our
claims relating to the November 2019 fire at our TRIC facility and proceeds
from the sale of legacy assets will not be sufficient to fund our accelerated
licensing strategy; (3) the risk that we may not be able to satisfactorily
demonstrate to potential licensees the technical and commercial viability of
our V1.25 electrolyzer and AquaRefining process; (4) the risk that licensees
may refuse or be slow to adopt our AquaRefining process as an alternative to
smelting in spite of the perceived benefits of AquaRefining; (5) the risk that
we may not realize the expected economic benefits from any licenses we may
enter into; (6) the risk that we will have to engage in additional sales of
our equity securities in order to fund our future operations; (7) the risk
that further funding, by any means, may not be available at all; (8) the fact
that we have not generated any significant revenue to date, thus subjecting us
to all of the risks inherent in an early-stage company; (9) the risk that our
patents and any other patents that may be issued may be challenged,
invalidated, or circumvented; (10) the risk that we may not be able to
successfully conclude our proposed joint development agreement with Clarios
or, if we do, realize the expected benefits of such agreement; (11) changes in
the federal, state and foreign laws regulating the recycling of lead acid
batteries; (12) our ability to protect our proprietary technology, trade
secrets and know-how and (13) those other risks disclosed in the section "Risk
Factors" included in our Quarterly Report on Form 10-Q filed on October 22,
2020 and subsequent SEC filings. Aqua Metals cautions readers 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.

Contact: Glen Akselrod, Bristol Capital
(905) 326-1888, Ext. 1
glen@bristolir.com 


(https://www.globenewswire.com/NewsRoom/AttachmentNg/871fef23-e7df-4995-ba01-56582ad62f9e)



GlobeNewswire, Inc. 2020
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