MCCARRAN, Nevada, December 28, 2020 (GLOBE NEWSWIRE) – Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”), which is reinventing lead recycling with its AquaRefining ™ technology known The V1.25L electrolyser program was completed on time and within budget and achieved a 100% higher lead production than the V1.0 electrolyser, which was used in the AquaRefinery in 2018 and 2019 during commercial production. The company had previously expected a 20% increase, but the V.125L electrolyser exceeded that forecast by 500%. The V1.25L program ended with a multi-day 24/7 endurance run that ended on December 24th.
These results should have a positive impact on our future customers' capital and operating costs for equipment supply and licensees. The doubling of the throughput leads to a 50% reduction in the number of electrolysers required for equivalent lead production. V1.25L also has lower construction costs and assembly times compared to the V1.0 electrolyzer, which translates into a 50% decrease in capital expenditure for Aqua Metals equipment. In addition, the operating costs of the electrolyser were reduced by more than 60% compared to the V1.0 electrolyser. This led to improvements in automation and higher throughput. The current design has a start and stop function with just one button, with no manual interaction required during operation, as well as an automated maintenance function. The 60% reduction in operating costs and 50% investments far exceeds the targets set in early 2020.
“We are very pleased with the results of the V1.25L program, which was completed on time and on budget,” said Steve Cotton, President and CEO of Aqua Metals. “The results give us the ability to deliver greater value proposition to future customers and should have a positive impact on our economics of delivering equipment and licensing agreements. We have decided to focus our efforts on product improvements in 2020 to accelerate our strategic shift to becoming an equipment and service provider and licensor of our technology. We believe the improvements made with V1.25L make us quite product ready in the ongoing discussions with recyclers around the world. “
“I'm very proud of the Aqua Metals team,” added Cotton. “Our dedicated employees have exceeded expectations. The AquaRefining economic improvements that we have made greatly strengthen our position to help the lead-acid battery industry become greener and safer. Cleaner recycling makes lead-acid batteries a truly sustainable solution for an energy storage market that is becoming an increasingly important part of the rapidly evolving sustainable energy-based economy. “
About Aqua Metals
Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing lead recycling with its patented AquaRefining ™ technology. In contrast to melting, AquaRefining is a water-based process at room temperature that causes less environmental pollution. The modular systems are designed to enable the company to significantly reduce its environmental impact and scale production capacity for recycling lead-acid batteries by supplying equipment, services and licenses for AquaRefining technology to partners. This could help meet the growing demand for lead for new applications including stop / start car batteries that complement the vehicle's main battery, lead-acid batteries in electric vehicles, internet data centers, alternative energy applications like solar, wind and web applications warehouse. Aqua Metals is based in McCarran, Nevada. To learn more, please visit www.aquametals.com.
Aqua Metals has used and intends to use its Investor Relations website (https://ir.aquametals.com) in addition to its Twitter, LinkedIn and YouTube accounts at https://twitter.com/AquaMetalsInc (@AquaMatalsInc) continue to be used), https://www.linkedin.com/company/aqua-metals-limited and https://www.youtube.com/channel/UCvxKNWcB69K0t7e337uQ8nQ, to disclose material non-public information and to comply with its disclosure obligations from the Regulation FD.
This press release contains forward-looking statements about Aqua Metals, Inc. Forward-looking statements include, but are not limited to, our plans, goals, expectations, and intentions, as well as 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 about future events or results, 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 Electrolyser. and the future of lead-acid battery recycling through traditional smelters. These forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially. These factors include: (1) the risk that we will not realize the expected benefits of our V1.25 Electrolyser; (2) The risk that our insurance will recover from our claims related to the November 2019 fire at our TRIC facility and the proceeds from the sale of legacy equipment is not enough to fund our accelerated licensing strategy. (3) the risk that we may not be able to demonstrate satisfactorily to potential licensees the technical and commercial feasibility of our electrolyzer V1.25 and our AquaRefining process; (4) the risk that licensees will reject our AquaRefining process as an alternative to smelting despite the perceived benefits of AquaRefining or only use it slowly; (5) the risk that we will not realize the anticipated economic benefits from licenses we may obtain; (6) the risk that we will have to make additional sales of our equity securities to fund our future activities; (7) the risk that additional funds will not be available at all; (8) the fact that we have not generated material income, thereby exposing us to all of the risks associated with an early stage company; (9) the risk that our patents and all other issued patents will be challenged, invalidated or circumvented; (10) the risk that we may not successfully conclude our proposed joint development agreement with Clarios or, if we do, realize the anticipated benefits of such an agreement; (11) Changes to federal, state, and international laws that regulate the recycling of lead-acid batteries; (12) our ability to protect our proprietary technology, trade secrets and know-how; and (13) the other risks set out in the “Risk Factors” section on our quarterly report filed on October 22, 2020 and thereafter 10-Q is included with SEC filings. Aqua Metals cautions readers not to place undue reliance on forward-looking statements. The company makes no undertaking, and expressly disclaims any obligation, to update or revise any such statement to reflect new circumstances or unexpected events, if they occur, unless required by law.
Glen Akselrod, capital of Bristol
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