Aqua Metals and ACME Sign Letter of Intent to License and Deploy AquaRefining Technology in Taiwan
July 01 2021 - 8:00AM
Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”),
which is reinventing metals recycling with its AquaRefining™
technology, today announced it has signed a Letter of Intent (LOI)
with ACME Metal Enterprise Co., Ltd. (ACME) to deploy and license
AquaRefining equipment at its facility in Keelung, Taiwan. The LOI
provides 60 days to finalize the definitive agreement and includes
terms for licensing and a phased deployment of Aqua Metals’
AquaRefining technology. The LOI also includes provisions for the
joint development of processing AquaRefined briquettes into battery
ready oxide material with a global battery manufacturer to be named
later.
ACME currently refines lead bullion into lead
alloys for sale to global battery manufactures. With the proposed
addition of AquaRefining, ACME would add the capability to produce
ultra-high purity AquaRefined briquettes for use in oxide
production. Through ACME’s relationships with its current battery
manufacturing customers, ACME and Aqua Metals propose to establish
a partnership to develop a process for converting AquaRefined
briquettes into lead oxide utilizing a ball mill. Separately, as
previously announced, Aqua Metals has developed a process for
converting briquettes into lead oxide through the Barton pot method
(melting). With the addition of the ball mill process (grinding),
AquaRefining would have the potential to produce oxide using the
only two industry standard processes available.
“We are pleased ACME has agreed in principle to
be the first APAC licensee and a partner in developing the ball
mill oxide process,” stated Steve Cotton, Aqua Metals President and
CEO. “This is a great opportunity to establish AquaRefining as
the only proven green method for recycling lead in the largest and
fastest growing lead recycling market in the world. The added value
of potentially strengthening our intellectual property related to
oxide manufacturing and the ability to offer our clients the
technology to create oxide directly from AquaRefined briquettes,
using both industry standard methods, makes this a special
opportunity for Aqua Metals.”
Linus Lu, Managing Director - ACME Metal
Enterprises Co., Ltd., added, “This partnership allows ACME to
expand its business relationships with large battery manufacturers
and establish itself as the first green tech lead recycler in Asia.
We are excited to initiate the transformation of the lead recycling
industry in APAC and look forward to working with Aqua Metals as we
scale production and develop our oxide process.”
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 include equipment supply,
services, and licensing of the AquaRefining technology to recyclers
across the globe. Aqua Metals is based in McCarran, Nevada. 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", "estimates", "potential" and variations of
such words or similar expressions that convey uncertainty of future
events or outcomes, or that do not relate to historical matters.
The forward-looking statements in this press release include our
expectations for the execution of a definitive agreement with ACME,
the expected benefits of any such definitive agreement with ACME,
the development of a methodology to produce oxide directly from
AquaRefined material, and the expected benefits of creating oxide
directly from AquaRefined briquettes. 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 we may not be able to conclude
a definitive agreement with ACME or, if we do, derive the expected
benefits from such agreement; (2) the risk we may not be able
develop a methodology to produce oxide directly from AquaRefined
material or, if we do, derive the expected benefits from such
methodology; (3) the risk that we may not be able to satisfactorily
demonstrate to potential licensees the technical and commercial
viability of our V1.25 electrolyzer and AquaRefining process; (4)
the risk that licensees may refuse or be slow to adopt our
AquaRefining process as an alternative to smelting in spite of the
perceived benefits of AquaRefining; (5) the risk that we may not
realize the expected economic benefits from any licenses we may
enter into; (6) the risk that we may not be able to access
additional capital as and when needed and (7) those other risks
disclosed in the section "Risk Factors" included in our Annual
Report on Form 10-K filed on February 25, 2021 and subsequent SEC
filings. 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: Glen Akselrod, Bristol Capital(905) 326-1888, Ext.
1glen@bristolir.com
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