ALAMEDA, Calif., Oct. 12, 2018 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the
“Company”), which is reinventing lead recycling with its AquaRefining™ technology, today announced that it has added ingots as part
of its finished product offerings and has made significant progress towards steady state module utilization.
“We are now complementing our initial finished product offering of large lead blocks with smaller lead ingots, the preferred
lead format for our battery manufacturer customers,” commented Steve Cotton, President of Aqua Metals. “We have overcome the
technical hurdles and are now making lead ingots at steady state. This will allow us to ship our ultra-pure AquaRefined lead
directly to battery manufacturers for production and also allow them to test our AquaRefined lead for improved battery performance
and life.”
To view a video of the ingoting line in process, please click here: https://youtu.be/A1nXVNV5ULc
Cotton added, “We have also made considerable progress increasing the daily utilization and hourly production rate of or
AquaRefining process to near steady state levels while delivering what we believe to be the purest lead produced in America. We
have achieved production levels of 100 kg per hour on individual modules operating 20+ hours per day, resulting in daily production
of 2+ metric tons of AquaRefined lead per day on those individual modules.
“We are currently operating one module at a time until we can recapture and reuse our proprietary electrolyte,” Cotton
continued. “Our engineers have designed the process and we have procured the equipment that we believe will allow us to recapture
this electrolyte, which will greatly improve our contribution margin per metric ton of lead. We are deploying these improvements in
two phases. We estimate Phase One will take us up to 75% towards our target for electrolyte recapture and Phase Two will complete
the remaining 25%. We have completed testing of Phase One of the system and have begun installing the equipment. We have also begun
testing Phase Two, and are very pleased with the initial results.”
Cotton concluded, “We are still tracking towards our goal of completing Phase One of our electrolyte management upgrades by the
end of the year which will position us to roll out additional modules. This is an aggressive timeline, but we are laser-focused in
attempting to meet it. Finally, we have additional initiatives underway to improve margins on product sales and feedstock. We will
provide additional detail on the progress of all of these projects in the fourth quarter of 2018.”
Photos accompanying this announcement are available at
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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 significantly less emissions. The modular systems are
intended to allow the Company to vastly reduce environmental impact and scale lead acid recycling production capacity by licensing
the AquaRefining technology to partners. This would meet 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 statements in this release
include the strength and efficacy of Aqua Metals’ portfolio of patent applications and issued patents, 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 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, (2) the fact that the Company only recently commenced production of AquaRefined lead and has not generated significant
revenue from the sale of AquaRefined lead to date, thus subjecting the Company to all of the risks inherent in an early-stage
company; (3) 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 and any patents issued in the future will be sufficiently broad to
adequately protect the Company’s technology, (4) the risk that the Company’s initial patents and any other patents that may be
issued to it may be challenged, invalidated, or circumvented, (5) 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; (6) 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 (8) those other
risks disclosed in the section “Risk Factors” included in the Company’s Quarterly Report on Form 10-Q filed on August 8, 2018. 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: Alison Ziegler, Darrow Associates (201) 220-2678
aziegler@darrowir.com