RENO, Nev., Sept. 01, 2022 (GLOBE NEWSWIRE) — Aqua Metals, Inc. (AQMS) (“Aqua Metals” or the “Company”), which is reinventing metal recycling with its AquaRefining™ technology, announced today today that the Company has signed a non-binding agreement with Alpine mortgage, Northern Nevada’s leading private lender, for a $6 million loan secured by the company’s AquaRefinery building. The loan, which is expected to close and fund in late September, is expected to provide a non-dilutive pathway to increase the company’s cash position and secure sufficient resources to generate revenue.
“This transaction is expected to provide additional cash, giving us a clear path and sufficient resources to advance our economically and environmentally superior lithium-ion battery recycling process from our successful bench-scale operations program. testing at our pilot-scale plant and ultimately revenue generation beginning later this year,” commented Steve Cotton, President and CEO of Aqua Metals. commissioning the pilot-scale plant from our Innovation Center in the coming weeks and we expect to be fully operational by mid-November We believe we will be the only company to demonstrate mineral recovery strategic batteries derived from lithium-ion batteries only in the United States and with 100% renewable energy and a clear path to net zero emissions and carbon neutrality.
“Alpen Mortgage prides itself on developing mutually beneficial structures to facilitate business for our clients in Northern Nevada, and this transaction achieves just that,” commented Max Haynes, director of private lending at Alpen Mortgage.
Additional details regarding the loan will be included on a Form 8-K, to be filed with the Securities and Exchange Commission after closing.
About Aqua Metals
Aqua Metals, Inc. (AQMS) is reinventing metal recycling with its patented AquaRefining™ hydrometallurgical technology. Unlike smelting, AquaRefining is a room temperature water-based process that emits less pollution. Modular Aqualyzers™ cleanly generate ultra-pure metal, one atom at a time, closing the sustainability loop for the rapidly growing energy storage economy. The Company’s offerings include supplying equipment, services and licensing AquaRefining technology to recyclers worldwide. Aqua Metals is based in Reno, Nevada. To learn more, please visit www.aquametals.com.
Aqua Metals Social Media
Aqua Metals has used and intends to continue to use its Investor Relations website (https://ir.aquametals.com), in addition to its Twitter, LinkedIn and YouTube accounts on https://twitter.com/AquaMetalsInc (@AquaMetalsInc), https://www.linkedin.com/company/aqua-metals-limited and https://www.youtube.com/channel/UCvxKNWcB69K0t7e337uQ8nQ respectively, as a means of disclosing material non-public information and to comply with its disclosure obligations under Regulation FD.
This press release contains forward-looking statements regarding Aqua Metals, Inc. Forward-looking statements include, but are not limited to, our plans, goals, expectations and intentions and other statements containing words such as “expects” , “envisions”, “anticipates”, “plans”, “intends”, “believes”, “estimates”, “potential” and variations of such words or similar expressions which convey uncertainty of events or future results, or that do not relate to historical matters. Forward-looking statements in this press release include our expectations regarding our ability to complete the $6 million loan with Alpen Mortgage; the expected benefits of the Alpen Mortgage, including the ability of the loan proceeds to finance the company through to revenue-generating operations; our ability to develop our AquaRefining technologies for recycling lithium-ion batteries; and the benefits expected from our Innovation Center. These forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially. These factors include: (1) the risk that we may not be able to complete the Alpen Mortgage Loan or, if we do, derive the expected benefits from the loan; (2) the risk that we may not be able to recycle lithium-ion batteries using our AquaRefining process or, if we do, derive the expected benefits from such recycling; (3) the risk that licensees will refuse or be slow to adopt our AquaRefining process as an alternative to smelting despite the perceived benefits of AquaRefining; (4) the risk that we may not realize the expected economic benefits of any licenses we may enter into; (5) the risk that we may not be able to access additional capital, through the sale of our TRIC facilities and equipment or otherwise, as needed and (6) the other risks disclosed in the “Risk Factors” section. included in our Annual Report on Form 10-K filed February 24, 2022. Aqua Metals cautions readers not to place undue reliance on forward-looking statements. The Company does not undertake and specifically disclaims any obligation to update or revise these statements to reflect new circumstances or unforeseen events as they occur, except as required by law.
Contact: Robert Meyers, FNKIR