Company to Combine All Aspects of Design and Manufacturing for Its AquaRefining™ Units
ALAMEDA, Calif., Sept. 8, 2015 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ:AQMS) ("Aqua Metals" or the "Company"), which is developing a non-pollutive electrochemical lead recycling technology called AquaRefining™, today announced it has established its new global headquarters in Alameda, California.
The facility will include engineering and design laboratories, offices and an assembly line for AquaRefining modules. After completing tenant improvements, Aqua Metals plans to begin production of the first AquaRefining modules in the fourth quarter of 2015.
"Our new location in Alameda is central to our employee base and many of our vendors," said Dr. Stephen Clarke, chairman and CEO of Aqua Metals. "The facility's close proximity to Oakland's International Airport, Port and surface transport infrastructure provides easy access and enhanced operational efficiencies that will help Aqua Metals continue to grow and evolve."
"We co-located our headquarters, including engineering and design, with the assembly line to create the most efficient, cost effective and high-quality product possible," said Selwyn Mould, COO of Aqua Metals. "At full production, the Alameda facility will have the capacity to manufacture up to 160 modules per year. This is equivalent to ten AquaRefineries the size of our first facility, which we are building in the Tahoe-Reno Industrial Center in McCarran, Nevada."
The company's new address is 1010 Atlantic Avenue, Alameda, CA 94501-1147.
About Aqua Metals, Inc.
Aqua Metals, Inc. (NASDAQ:AQMS) has developed AquaRefining™, a modular electrochemical process that produces ultra-pure lead from used lead-acid batteries in an efficient and socially responsible manner. Unlike lead smelting (the current method of recycling lead-acid batteries), AquaRefining produces almost no emissions. AquaRefining also consumes much less total energy and is more cost effective than lead smelting. Aqua Metals has engineering offices in Alameda, California and is in the process of building commercial lead production AquaRefining facilities, the first of which will be near Reno, Nevada. For more information, please visit the Company's website at www.aquametals.com.
This press release contains forward-looking statements concerning Aqua Metals, Inc., including statements regarding the prospects for 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 Company has not yet commenced revenue producing operations or developed its initial commercial recycling facility, 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 final prospectus filed by Aqua Metals with the SEC on July 31, 2015. 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.
CONTACT: Company Contact:
Chief Commercial Officer
Aqua Metals, Inc.
1010 Atlantic Avenue, Suite 101
Alameda, CA 94501-1147
MZ North America
Senior Vice President
Aqua Metals, Inc.