Business
Aqua Metals Announces Third Quarter 2021 Results
Third Quarter and Recent Highlights: Established Aqua Metals Innovation Center for development of lithium-ion battery recycling solution utilizing proven
About this update from Aqua Metals, Inc.
[{"type":"text","content":"Third Quarter and Recent Highlights: Established Aqua Metals Innovation Center for development of lithium-ion battery recycling solution utilizing proven AquaRefining technology Completed third generation Aqualyzer; achieved production over 300% of original model Finalized definitive agreement to deploy AquaRefining technology in Taiwan to ACME Metal Enterprise Co. and partner to further develop direct to oxide process Signed collaboration agreement with LINICO for clean lithium-ion battery recycling technology Received $1.25 million payment from LINICO; non-refundable deposit for the purchase of McCarran Nevada facility Received final insurance payment of $5.25 million; achieved a total of $30.25 million collected Further advanced discussions with additional potential licensees RENO, Nev., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS) (\"Aqua Metals\" or the \"Company\"), which is reinventing metals recycling with its AquaRefining™ technology, today announced results for its third quarter ended September 30, 2021. Steve Cotton, President and Chief Executive Officer, commented, “Aqua Metals continues to deliver on our stated objectives regarding the deployment of clean AquaRefining technology for recycling of lead-acid batteries. In addition, I am very excited about our advancements in applying AquaRefining technology to the recycling of lithium-ion batteries, which can significantly augment Aqua Metals capabilities and more than doubles our addressable market. During the third quarter, we finalized our first ever agreement to deploy AquaRefining technology at the facility of our new partner in Taiwan. Plans are currently being finalized for the shipping and installation of the phase 1 deployment package to the ACME Taiwan facility this quarter with plans for installation and initial operations during the first quarter of 2022. This operation will benefit from the enhancements recently made to our third generation Aqualyzer, that has achieved production over 300% of the original model. Also, during the third quarter, we established our new Innovation Center that is focused on developing the capability to utilize AquaRefining technology to recover metals from recycled lithium-ion batteries. Lab scale testing has already begun with promising results. In addition, we believe that our just announced collaboratio...