Joined MCCARRAN, Nev., Dec. 28, 2020 (GLOBE NEWSWIRE) – Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”), which is regenerating lead recycling with their AquaRefining ™ technology. they have completed their V1.25L electrolyzer program on time and under budget, achieving a lead yield that is 100% greater compared to the V1.0 electrolyzer used at the AquaRefinery during production commercial in 2018 and 2019. The Company previously led a 20% increase in throughput, but the V.125L electrolyzer exceeded that lead by 500%. The V1.25L program ended with a 24/7 multi-day stability run that ended on December 24thth.
These results should have a positive impact on future capital and operating costs for our equipment suppliers and licensees. Doubling the throughput leads to a 50% reduction in the number of electrolyzers required for equivalent lead production. The V1.25L also has a lower construction cost and reduced assembly time compared to the V1.0 electrolyzer, which is associated with a 50% reduction in capital expenditure for Aqua Metals equipment plants. In addition, electrolyzer operating costs are reduced by more than 60% compared to the V1.0 electrolyzer, with the combined effect of improvements in automation and increased throughput. The standard design with one-button start and stop function without manual interaction is required during operation, along with automatic maintenance capability. The 60% reduction in operating costs and a 50% reduction in capital expenditure are significantly higher than the targets 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 enable us to deliver a greater value proposition to future customers and should have a positive impact on the economics of equipment supply and licensing agreements. We have chosen to focus our 2020 efforts on product development in support of accelerating our strategic shift to equipment supplier as well as services and licensing of our technology. We believe that the improvements achieved by V1.25L position us well-prepared for a result in the ongoing discussions we have been having with recyclers across the globe. ”
“I’m really proud of the Aqua Metals team,” said Cotton. “Our dedicated staff have exceeded expectations. The economic developments on AquaRefining we have achieved significantly strengthen our position to help make the lead battery industry greener and safer. Cleaner recycling makes lead batteries a very sustainable solution for a growing energy storage market and a vital part of a sustainable, energy-based and developing economy. ”
About Aqua Metals
The 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 significantly reduce environmental impact and reduce lead acid battery recycling production capacity by providing equipment, services and allowing AquaRefining technology to partners. This could help meet the growing demand for powering new applications including stop / start car batteries that supplement the vehicle’s main battery, batteries lead acid contained in electric vehicles, internet data centers, other energy applications including solar, wind and grid scale. storage. Aqua Metals is based in McCarran, Nevada. To learn more, visit www.aquametals.com.
Aqua Metals has used their investment relationship website, and plans to continue (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 a means of publishing non-public information and for compliance with publication obligations under FD Rule.
Safe Harbor
This press release contains forward-looking statements regarding Aqua Metals, Inc. Forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements that include words such as “expectations,” “ideas,” ” “expectations,” “plans,” “expectations,” “beliefs”, “estimates”, “abilities” and variations of those words or similar phrases that give rise to uncertainty about events or results in the future, or not related to historical issues.The positive statements in this press release include our expectations for the benefits of the electrolyzer V1.25; and the future of battery recycling acid through traditional smelters.These positive statements include known, unknown, uncertainties and other factors that may cause substantially different results. These factors are: (1) the risk that we may not understand the expected benefits of our V1.25 electrolyzer; (2) the risk that our reinsurance 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 adequately demonstrate to licensees the technical and commercial operational capability of our V1.25 and AquaRefining electrolyzer process; (4) the risk that licensees may reject our AquaRefining process or be slow to accept our AquaRefining process as an alternative to melting despite the perceived benefits of AquaRefining; (5) the risk that we may not realize the expected economic benefits of any licenses we may make; (6) the risk that we will need to engage in additional sales of our equity securities to fund our future activity; (7) the risk that no further funding will, in any way, be available; (8) the fact that we have not yet generated any significant revenue, thus taking on all the risks that are part of an early company; (9) the risk of challenge, invalidation of or surrounding our patents and any other patents that may be issued; (10) the risk that we may not be able to terminate our development agreement proposed by Clarios or, if we do, achieve the expected benefits of that agreement; (11) changes in federal, state, and foreign laws governing the recycling of lead-acid batteries; (12) our capability of our proprietary technology, trade secrets and knowledge and (13) those other risks that are disclosed in the “Risk Factors” section included in our quarterly Report on Form 10-Q scheduled for October 22, 2020 and beyond. SEC layers. Aqua Metals warns readers not to rely heavily on positive reporting. The Company will not undertake, and in particular disclaim any obligation, to update or revise such statements to reflect new circumstances or unforeseen events as they occur, but as required by law.
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