Australia Approves Patent for Smelterless Recycling of Lead Acid Batteries
ALAMEDA, Calif., Aug. 08, 2017 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ:AQMS), (“Aqua Metals” or the “Company”), which is commercializing a non-polluting electrochemical lead recycling technology called AquaRefining™, today announced it has secured another patent: Australia Patent No. AU2014353227, "Devices and Method for Smelterless Recycling of Lead Acid Batteries." The Company believes that AquaRefining is more efficient and cost effective than conventional lead recycling while producing a higher quality product.
The patent was issued by the Australian Patent Office, a division of IP Australia, which is an agency of the Department of Industry, Innovation and Science. According to the Australian Battery Recycling Initiative (ABRI), over nine million lead acid batteries are purchased each year in Australia.
"This Australian patent is the second of several international patents we expect to be issued," said Dr. Stephen Clarke, Chairman and CEO of Aqua Metals. "Australia is a significant future opportunity for us given that the government is committed to recycling programs. We are proud of the efforts of our team and believe this latest achievement is yet another notable milestone in the path to commercializing our cutting-edge lead recycling technology."
The Company’s IP Strategy includes planned filings for more than 20 patents, organized into several families covering "matter," "devices" and "processes" in up to 20 different regions.
About Aqua Metals
Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing lead recycling with its patented and patent-pending AquaRefining ™ technology. Unlike smelting, AquaRefining is a room temperature, water-based process that is fundamentally non-polluting. These modular systems allow the Company to vastly reduce environmental impact and scale lead acid recycling production capacity both by building its own AquaRefineries and licensing the AquaRefining technology to partners. This meets growing demand for lead to power new applications including stop/start automobile batteries which complement the vehicle’s main battery, Internet data centers, alternative energy applications including solar, wind, and grid scale storage. Aqua Metals is based in Alameda, California, and has built its first recycling facility in Nevada’s Tahoe Reno Industrial Complex. To learn more, please visit www.aquametals.com.
This press release contains forward-looking statements concerning Aqua Metals, Inc., the strength and efficacy of its portfolio of patent applications and issued patent, 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 risk no further patents will be issued on our patent applications or any other application that we may file in the future or that, if such patents are issued, they will be sufficiently broad to adequately protect our technology, (2) the risk that our initial patents and any other patents that may be issued to us may be challenged, invalidated, or circumvented, (3) the risk that our initial patents and other any patents that may be issued to us may be may not stop a competitor from using our patented processes and materials, (4) the fact that the Company only recently commenced revenue producing operations, thus subjecting the Company to all of the risks inherent in a pre-revenue start-up; (5) risks related to Aqua Metals’ ability to raise sufficient capital, as and when needed, to develop and operate its recycling facilities; (6) changes in the federal, state and foreign laws regulating the recycling of lead acid batteries; (7) the Company’s ability to protect its proprietary technology, trade secrets and know-how and (8) those other risks disclosed in the section “Risk Factors” included in the Company’s Annual Report on Form 10-K filed on March 2, 2017. 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.
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