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Aqua Metals to Receive Final $5.25M Insurance Payment; Total Collections Reach $30.25M
MCCARRAN, Nev., July 29, 2021 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS) ("Aqua Metals" or the "Company"), which is reinventing metals recycling
About this update from Aqua Metals, Inc.
[{"type":"text","content":"MCCARRAN, Nev., July 29, 2021 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS) (\"Aqua Metals\" or the \"Company\"), which is reinventing metals recycling with its AquaRefining™ technology, today announced its final insurance payment of $5.25 million. The Company has now collected or secured a total of $30.25 million of insurance proceeds related to the November 2019 fire event. “We are pleased with the conclusion of our discussions with our insurance provider and having this process behind us. The total insurance payments received of $30.25 million is a very positive result for Aqua Metals and is in line with our expectations. These funds have been instrumental in the significant progress made as we accelerated our transition to a capital light strategy. The successful recovery of the losses, including this final large payment, provides a non-dilutive underpinning for our balance sheet and our ability to focus on the next phase of revenue from technology licensing and equipment supply opportunities,” said Steve Cotton, President and CEO of Aqua Metals. Conference Call and Webcast The Company will conduct a conference call to discuss this announcement and results for the second quarter ended June 30, 2021, today at 4:30 p.m. Eastern Daylight Time. The conference call may be accessed by dialing: (833) 579-0902 or (778) 560-2608 for international callers and referencing conference ID: 9895125. A simultaneous webcast of the conference call, that will include presentation slides, will be available at: https://onlinexperiences.com/Launch/QReg/ShowUUID=B46272FC-73AD-42A4-8D4C-A1FF33E8993D. In addition, the live webcast or a replay of the conference call will be available via the Company website at: https://ir.aquametals.com/ir-calendar. A telephone replay of the conference call will be available until August 29, 2021, by dialing (800) 585-8367 (toll free) or (416) 621-4642 and using conference ID: 9895125. About Aqua Metals Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing metals recycling with its patented hydrometallurgical AquaRefining™ technology. Unlike smelting, AquaRefining is a room temperature, water-based process that emits less pollution. The modular Aqualyzers™ cleanly generates ultra-pure metal one atom at a time, closing the sustainability loop for the rapidly growing energy storage economy. The Company’s offerings inc...