Aqua Metals Provides Company Update
February 12 2018 - 8:30AM
Aqua Metals, Inc. (NASDAQ:AQMS), (“Aqua Metals” or the “Company”),
which is commercializing an electrochemical lead recycling
technology called AquaRefining™, is providing the following
business update.
On December 1, 2017, Aqua Metals announced that the Company
believed it had developed a solution to address a condition
described as “sticky lead” in which lead recovered during the
AquaRefining process was hanging up on the AquaRefining modules’
exit chutes.
Following that announcement, initial testing of the chosen
solution was completed using one electrolyser during the remainder
of December 2017. This solution was then expanded to one full
module, comprised of 6 electrolysers, and operated during January
and early February. The retro-fitted module has completed a series
of tests including operation of more than 20 hours over a four-day
period. AquaRefined lead produced during this period has been
converted into ingots.
The electrolyser retro-fit design has now been approved for
production. The solution is now being applied to all 16
AquaRefining modules and the modules are expected to be placed into
commercial operation on a rolling basis. The Company is
implementing additional improvements to the plant, including the
breaker, separation systems, electrolyte production and ingot line,
in order to scale up its operations.
“Our technical and operations teams rose to the challenge by
putting significant time, effort and analysis into developing and
validating a solution to the sticky lead issue,” said Dr. Stephen
Clarke, CEO of Aqua Metals. “We look forward to discussing our
progress on our next investor call.”
A video showing the updated AquaRefining module in operation can
be seen here, or by visiting the following link:
https://youtu.be/823DXpnVMdQ.
About Aqua Metals Aqua Metals, Inc.
(NASDAQ:AQMS) is reinventing lead recycling with its patented and
patent-pending AquaRefining™ technology. AquaRefining is a room
temperature, water-based process that is fundamentally
non-polluting. These modular systems allow the Company to reduce
environmental impact and scale lead acid recycling production
capacity both by building its own AquaRefineries and licensing the
AquaRefining technology to partners. This meets growing demand for
lead to power new applications including stop/start automobile
batteries which complement the vehicle’s main battery, Internet
data centers, alternative energy applications including solar,
wind, and grid scale storage. Aqua Metals is based in Alameda,
California, and has built its first recycling facility in Nevada’s
Tahoe Reno Industrial Complex. To learn more, please visit
www.aquametals.com.
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” and variations of
such words or similar expressions that predict or indicate future
events or trends, or that do not relate to historical matters. The
forward-looking statement in this release include the roll-out of
the Company’s first 16 AquaRefining modules into commercial
operation, the lead acid battery recycling industry, the future of
lead acid battery recycling via traditional smelters, the Company’s
development of its commercial lead acid battery recycling
facilities and the quality and efficiency of the Company’s proposed
lead acid battery recycling operations. 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 the Company may encounter
additional engineering or production issues that further delay the
roll-out of its first 16 AquaRefining modules, (2) the risk that
the Company may not be able to produce and market AquaRefined lead
on a commercial basis or, if the Company achieves commercial
operations, that such operations will be profitable, (3) the fact
that the Company only recently commenced production and has not
generated any significant revenue to date, thus subjecting the
Company to all of the risks inherent in a pre-revenue start-up; (4)
the risk no further patents will be issued on the Company’s patent
applications or any other application that it may file in the
future and that those patents issued to date any patents issued in
the future will be sufficiently broad to adequately protect the
Company’s technology, (5) the risk that the Company’s initial
patents and any other patents that may be issued to it may be
challenged, invalidated, or circumvented, (6) risks related to Aqua
Metals’ ability to raise sufficient capital, as and when needed, to
develop and operate its recycling facilities and fund continuing
losses from operations as the Company endeavors to achieve
profitability; (7) changes in the federal, state and foreign laws
regulating the recycling of lead acid batteries; (7) the Company’s
ability to protect its proprietary technology, trade secrets and
know-how and (9) those other risks disclosed in the section “Risk
Factors” included in the Company’s Quarterly Report on Form 10-Q
filed on November 9, 2017. 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.
Aqua Metals Investor Relations:MZ North
AmericaGreg FalesnikManaging DirectorMain:
949-385-6449greg.falesnik@mzgroup.us
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