Aqua Metals Announces Preliminary Q2 2017 Revenues
July 25 2017 - 7:30AM
Aqua Metals, Inc. (NASDAQ:AQMS) (“Aqua Metals” or the “Company”),
which is commercializing a non-polluting electrochemical lead
recycling technology called AquaRefining™, has provided preliminary
revenue results for its second quarter ended June 30, 2017. The
Company expects total revenues for the second quarter of 2017 to be
$603,000, which represents the commencement of commercial revenues.
“Moving into revenue generation is another significant milestone
in the growth of Aqua Metals” said Dr. Stephen Clarke, Chairman and
CEO of Aqua Metals. “What we have accomplished to-date is truly
unprecedented and represents a level of progress not generally seen
in advanced materials technologies. Having founded AquaMetals in
2014, we secured funding for and broke ground at our first
AquaRefinery in 2015, obtained supply agreements, key permits,
completed construction and started commissioning in 2016; and in
the first half of 2017 we secured a commercial and licensing
relationship with Johnson Controls, made our first acquisition, had
our first patent issue and began revenue producing operations from
the sale of lead compounds and plastics. I am excited about
our progress and proud of our team and its achievements. We
have worked hard to bring the front-end of our process into
consistent operation and are now working to install the balance of
our AquaRefining modules as we work towards our goal of achieving
120 metric tonnes per day of capacity by year end.”
Clarke, continued: “We are working to expand the reach and scope
of our technology with additional facilities of our own, the
commencement of equipment licensing and the expansion of our
product offerings to include advanced materials and methods to
advance the capabilities of lead acid batteries. We look forward to
delivering sustainable, long-term results for our
shareholders.”
About Aqua MetalsAqua Metals,
Inc. (NASDAQ:AQMS) is reinventing lead recycling with its
patented and patent-pending AquaRefiningTM technology. Unlike
smelting, AquaRefining is a room temperature, water-based process
that is fundamentally non-polluting. These modular systems allow
the Company to vastly 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., 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, efficiency and profitability 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 fact that the Company only recently
commenced revenue producing operations, thus subjecting the Company
to all of the risks inherent in a pre-revenue start-up; (2) risks
related to Aqua Metals’ ability to raise sufficient capital, as and
when needed, to develop and operate its recycling facilities; (3)
changes in the federal, state and foreign laws regulating the
recycling of lead acid batteries; (4) the Company’s ability to
protect its proprietary technology, trade secrets and know-how and
(5) those other risks disclosed in the section “Risk Factors”
included in the Company’s Annual Report on Form 10-K filed on March
2, 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.
Company Contact:
Aqua Metals, Inc.
Thomas Murphy
Chief Financial Officer
Main: 1-510-543-0147
www.aquametals.com
Investor Relations:
MZ North America
Greg Falesnik
Managing Director
Main: 949-385-6449
greg.falesnik@mzgroup.us
www.mzgroup.us
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