World News: 13:30 GMT Friday 12th October 2018. [Aqua Metals via Globe Newswire via SPi World News]
ALAMEDA, Calif., Oct. 12, 2018 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”), which is reinventing lead recycling with its AquaRefining™ technology, today announced that it has added ingots as part of its finished product offerings and has made significant progress towards steady state module utilization.
“We are now complementing our initial finished product offering of large lead blocks with smaller lead ingots, the preferred lead format for our battery manufacturer customers,” commented Steve Cotton, President of Aqua Metals. “We have overcome the technical hurdles and are now making lead ingots at steady state. This will allow us to ship our ultra-pure AquaRefined lead directly to battery manufacturers for production and also allow them to test our AquaRefined lead for improved battery performance and life.”
To view a video of the ingoting line in process, please click here:
Cotton added, “We have also made considerable progress increasing the daily utilization and hourly production rate of or AquaRefining process to near steady state levels while delivering what we believe to be the purest lead produced in America. We have achieved production levels of 100 kg per hour on individual modules operating 20+ hours per day, resulting in daily production of 2+ metric tons of AquaRefined lead per day on those individual modules.
“We are currently operating one module at a time until we can recapture and reuse our proprietary electrolyte,” Cotton continued. “Our engineers have designed the process and we have procured the equipment that we believe will allow us to recapture this electrolyte, which will greatly improve our contribution margin per metric ton of lead. We are deploying these improvements in two phases. We estimate Phase One will take us up to 75% towards our target for electrolyte recapture and Phase Two will complete the remaining 25%. We have completed testing of Phase One of the system and have begun installing the equipment. We have also begun testing Phase Two, and are very pleased with the initial results.”
Cotton concluded, “We are still tracking towards our goal of completing Phase One of our electrolyte management upgrades by the end of the year which will position us to roll out additional modules. This is an aggressive timeline, but we are laser-focused in attempting to meet it. Finally, we have additional initiatives underway to improve margins on product sales and feedstock. We will provide additional detail on the progress of all of these projects in the fourth quarter of 2018.”
Photos accompanying this announcement are available at
Contact: Alison Ziegler, Darrow Associates (201) 220-2678
Globe Newswire: 13:30 GMT Friday 12th October 2018
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