Aqua Metals Receives Additional Allowances on Patent Applications for its Battery Recycling Technology
Grants & Allowances Now Total 13
ALAMEDA, Calif., Oct. 17, 2018 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS) (“Aqua Metals” or the “Company”), which is reinventing lead recycling with its AquaRefining™ technology, today announced further allowances for patent applications from the Ministry of Economic Development and Trade of Ukraine, the Australian Patent Office and from the Korean Intellectual Property Office on its devices and method for smelterless recycling of lead acid batteries. Over the course of 2018, Aqua Metals has filed for 22 US and foreign patent applications relating to certain elements of the technology underlying the AquaRefining process and related apparatus and chemical formulations.
“While we continue to commercialize our breakthrough electrochemical battery recycling process, AquaRefining, we remain focused on building upon our already comprehensive patent position,” commented Steve Cotton, Aqua Metal’s President. “With recent filings, we now have over 90 patents pending in the United States as well as 20 additional jurisdictions. (See map.) These recent allowances build upon the Company’s previous total of 9 grants and 1 allowance consisting of one US patent as well as international patents/allowances received in Korea, Japan, China, Europe, Australia, Canada, African Intellectual Property Organization, Mexico, and South Africa and now an additional allowance in the Ukraine.
Steve Cotton added, “Because of both the high purity of our lead and the environmental positives of our technology, we have a tremendous opportunity to help transform the $20+ billion global lead commodity market, which is why we’ve instituted such an aggressive patent strategy.”
About Aqua Metals
Aqua Metals, Inc. (NASDAQ:AQMS) is reinventing lead recycling with its patented AquaRefining™ technology. Unlike smelting, AquaRefining is a room temperature, water-based process that emits less pollution. The modular systems are intended to allow the Company to vastly reduce environmental impact and scale lead acid recycling production capacity by licensing the AquaRefining technology to partners. This would meet 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. 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” and variations of such words or similar expressions that predict or indicate future events or trends, or that do not relate to historical matters. The forward looking statements in this release include the strength and efficacy of Aqua Metals’ portfolio of patent applications and issued patents, 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 and efficiency 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 that the Company may not be able to produce and market AquaRefined lead on a commercial basis or, if the Company achieves commercial operations, that such operations will be profitable, (2) the fact that the Company only recently commenced production and has not generated any significant revenue to date, thus subjecting the Company to all of the risks inherent in a pre-revenue start-up; (3) the risk no further patents will be issued on the Company’s patent applications or any other application that it may file in the future and that those patents issued to date and any patents issued in the future will be sufficiently broad to adequately protect the Company’s technology, (4) the risk that the Company’s initial patents and any other patents that may be issued to it may be challenged, invalidated, or circumvented, (5) risks related to Aqua Metals’ ability to raise sufficient capital, as and when needed, to develop and operate its recycling facilities and fund continuing losses from operations as the Company endeavors to achieve profitability; (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 Quarterly Report on Form 10-Q filed on August 8, 2018. 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: Alison Ziegler, Darrow Associates (201) 220-2678
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a6db62a5-def5-4fe2-98ad-9f086cdf0913
Released October 17, 2018