Latest news with #AquaMetals
Yahoo
5 days ago
- Business
- Yahoo
Aqua Metals Announces Allowance of Foundational U.S. Patent for Lithium Battery Recycling Technology
Patent Strengthens AquaRefining™ IP Portfolio and Supports Licensing and Joint Venture Strategy for Global Expansion RENO, Nev., June 02, 2025 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS), a leader in sustainable lithium battery recycling, today announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Patent Application No. 17/584,975. The newly allowed patent covers critical aspects of Aqua Metals' proprietary lithium battery recycling technology and further strengthens the Company's AquaRefining™ intellectual property portfolio. Originally filed in January 2022, the application reflects years of R&D that progressed from lab and bench-scale validation to successful pilot operations. Aqua Metals has demonstrated the ability to efficiently recover battery-grade lithium carbonate, as well as high-purity nickel and cobalt materials, using its novel, electrified, and regenerative hydrometallurgical process. This patent protects core innovations in Aqua Metals' AquaRefining™ technology—an environmentally superior alternative to traditional recycling. The process offers estimated cost savings of approximately $1,100 per metric ton of black mass input versus conventional hydrometallurgical methods. It also eliminates sodium sulfate waste, generates negligible CO₂ emissions, and provides a safer workplace environment. 'This allowance represents a major milestone in our strategy to scale AquaRefining™ through both owned recycling campuses and global partnerships,' said Steve Cotton, President and CEO of Aqua Metals. 'It strengthens our IP foundation and positions us to pursue licensing and joint venture opportunities with partners who share our vision of building a clean, secure, and domestic battery materials supply chain. We look forward to sharing more on these partnerships soon.' Aqua Metals is also pursuing additional patents, including a novel and cost-efficient process to produce lithium battery precursor materials. The Company is currently in discussions with multiple potential licensees and JV partners worldwide, with this broad new patent allowance expected to play a central role in enabling and structuring those relationships. This patent allowance represents continued progress in Aqua Metals' mission to build a robust intellectual property portfolio and lead the build out of a domestic lithium battery supply chain. About Aqua Metals Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing metals recycling with its patented AquaRefining™ technology. The Company is focused on commercializing sustainable lithium-ion battery recycling that is non-polluting and closes the loop on critical minerals for clean energy technologies. Aqua Metals is based in Reno, Nevada, with facilities located in the Tahoe-Reno Industrial Center. For more information, visit Aqua Metals Social Media Aqua Metals has used, and intends to continue using, its investor relations website ( in addition to its X, Threads, LinkedIn and YouTube accounts at (@AquaMetalsInc), (@aquametalsinc), and respectively, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Safe Harbor 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", "estimates", "potential" and variations of such words or similar expressions that convey the uncertainty of future events or outcomes, or that do not relate to historical matters. The forward-looking statements in this press release include our expectations for our recently issued patent covering our lithium battery recycling technology, including the expected beneficial impact of the patent on our licensing and joint venture opportunities. Those forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially, including, but not limited to, the risk that (1) we have not commenced the commercial production of recycled black mass using our lithium battery recycling technology or otherwise; (2) there can be no assurance we will be able to realize the expected benefits of our lithium battery recycling process once we commence commercial recycling; (3) the risk we may not be able to successfully acquire the funding necessary to commence commercial recycling; (4) even if we are to able acquire the necessary funding, the risk we may not be able to commence commercial recycling or realize the expected benefits from such recycling; (5) the risk that we may not be able to acquire the funding necessary to maintain our current level of operations; and (6) those risks disclosed in the section "Risk Factors" included in our Annual Report on Form 10-K filed on March 31, 2025. 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 on new circumstances or unanticipated events as they occur, except as required by law. Contact Information Investor RelationsBob Meyers & Rob FinkFNK IR646-878-9204aqms@ MediaDavid ReganAqua
Washington Post
08-05-2025
- Business
- Washington Post
Aqua Metals: Q1 Earnings Snapshot
RENO, Nev. — RENO, Nev. — Aqua Metals Inc. (AQMS) on Thursday reported a loss of $8.3 million in its first quarter. On a per-share basis, the Reno, Nevada-based company said it had a loss of $1.03. In the final minutes of trading on Thursday, the company's shares hit $1.11. A year ago, they were trading at $9.16.
Yahoo
08-05-2025
- Business
- Yahoo
Aqua Metals Expands Product Platform with Advancements in Nickel, MHP, and LFP Recycling; Reports First Quarter 2025 Results
RENO, Nev., May 08, 2025 (GLOBE NEWSWIRE) -- Aqua Metals (NASDAQ: AQMS), an innovator in domestic critical minerals refining, AquaRefining™, today reported financial results for the first quarter ended March 31, 2025, and highlighted major technology and product development milestones that advance the Company's mission to build a low-cost resilient battery supply chain in the United States. First Quarter and Recent Highlights: Delivering New Products and Technologies Aqua Metals has made significant strides toward commercial readiness, building on its AquaRefining™ platform to meet the evolving needs of the lithium battery industry: Product Line Expansion: Produced initial samples of nickel carbonate and mixed hydroxide precipitate (MHP) aligned with potential downstream partners' requirements, unlocking new revenue opportunities and meeting customer specifications for battery-grade precursors. LFP Recycling Breakthrough: Completed bench-scale demonstration and engineering analysis for lithium recovery from lithium iron phosphate (LFP) batteries—poised to become the dominant battery chemistry for EV and stationary storage applications. The Aqua Metals process can take 50% nickel manganese cobalt (NMC) input and 50% LFP input and effectively double lithium carbonate output, improving the economic model. Purity & Performance Advancement: Continued refining high-purity lithium carbonate production process to meet rigorous customer specifications and position Aqua Metals as a preferred partner in domestic lithium production. 'These developments show our technology and operations continue to evolve based on market needs—we're building what we believe to be the most adaptable, forward-looking battery recycling platform in the country,' said Steve Cotton, President and CEO of Aqua Metals. 'As the market shifts, we are innovating in lockstep, preparing to meet demand with flexible, high-performance solutions.' Strategic Site Optimization To align capital deployment with the current market environment—marked by persistently low lithium prices and cautious capital markets—Aqua Metals has entered into an agreement to sell the current Sierra ARC property. The move retires all debt and produces significant cash proceeds while also reducing holding costs by approximately $100,000 per month. This decision adds meaningful cash reserves and runway, allowing the Company to evaluate more cost-efficient locations for future development. Aqua Metals is working closely with prospective strategic materials and financial partners to explore co-location opportunities near feedstock and offtake sources, which could offer significantly lower CAPEX and OPEX. 'By proactively managing our footprint to current market conditions, we're adding the additional resilience the business needs with the long game in mind—maximizing flexibility, minimizing cost, and maintaining focus on execution,' said Cotton. The Company remains committed to constructing its first commercial ARC and is actively working with multiple potential supply, off-take, and funding partners to determine the optimal timing and location. Strengthening Financial Leadership In a planned transition, Judd Merrill will transition from his role as CFO on May 16, continuing in a consulting role through August of 2025. Eric West, formerly Aqua Metals' Vice President of Finance, will step into the role of Chief Financial Officer effective May 19. 'We thank Judd for his years of service and leadership—his experience and dedication have been invaluable during a transformative period for Aqua Metals,' said Cotton. 'We're excited to welcome Eric into the role, continuing the strong collaboration between operations and finance as we build toward commercial scale.' Merrill added, 'It has been a privilege to be part of Aqua Metals' journey, and I'm proud of the team's accomplishments to date and the vision we've built. Having worked with Eric for 6 years at Aqua Metals and several years prior at another company, I have full confidence in Eric's ability to take the CFO helm and look forward to supporting a seamless transition.' West, who will join the Company's May 8th earnings call alongside Cotton and Merrill, commented, 'I'm honored to take on this new role. I've seen firsthand the strength of the technology and team, and I'm committed to helping drive our next phase of development as a leader in lithium battery recycling.' Conference Call and Webcast The Company will hold a conference call to discuss results and corporate developments today at 4:30 p.m. ET. Investors can access the live conference call at or from the investor relations section of the Company's website at Alternatively, interested parties can access the audio call by dialing 888-428-7458 (toll-free) or 862-298-0702 (international). Following the conclusion of the live event, a replay will be available by dialing 877-660-6853 (toll-free) or 201-612-7415 (international) and using passcode 13753480. The webcast replay will also be available in the investor relations section of the Aqua Metals website. About Aqua Metals Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing metals recycling with its patented AquaRefining™ technology. The Company is focused on commercializing sustainable lithium-ion battery recycling that is non-polluting and closes the loop on critical minerals for clean energy technologies. Aqua Metals is based in Reno, Nevada, with facilities located in the Tahoe-Reno Industrial Center. For more information, visit Aqua Metals Social Media Aqua Metals has used, and intends to continue using, its investor relations website ( in addition to its X, Threads, LinkedIn and YouTube accounts at (@AquaMetalsInc), (@aquametalsinc), and respectively, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Safe Harbor 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", "estimates", "potential" and variations of such words or similar expressions that convey the uncertainty of future events or outcomes, or that do not relate to historical matters. Those forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially, including, but not limited to, (1) the risk that we may not be able to acquire the funding necessary to maintain our current level of operations; and (2) those risks disclosed in the section "Risk Factors" included in our Annual Report on Form 10-K filed on March 31, 2025. 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 Information Investor RelationsBob Meyers & Rob FinkFNK IR646-878-9204aqms@ MediaDavid ReganAqua AQUA METALS, Consolidated Balance Sheets - Unaudited(in thousands, except share and per share amounts) March 31, 2025 December 31, 2024 ASSETS Current assets Cash and cash equivalents $ 1,589 $ 4,079 Note receivable - LINICO — 100 Accounts receivable 128 — Inventory 245 251 Prepaid expenses and other current assets 257 214 Total current assets 2,219 4,644 Non-current assets Property, plant and equipment, net 11,109 16,473 Intellectual property, net 128 146 Other assets 4,609 5,102 Total non-current assets 15,846 21,721 Total assets $ 18,065 $ 26,365 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 788 $ 1,227 Accrued expenses 2,812 3,130 Lease liability, current portion 296 289 Notes payable related-party, current portion 3,223 306 Note payable, current portion 45 3,230 Total current liabilities 7,164 8,182 Non-current liabilities Lease liability, non-current portion 368 446 Warrant liability 1,002 1,493 Total liabilities 8,534 10,121 Commitments and contingencies (see Note 13) Stockholders' equity Common stock; $0.001 par value; 300,000,000 shares authorized; 8,389,025 and 8,362,549, shares issued and outstanding as of March 31, 2025, respectively and 7,760,255 and 7,730,836 shares issued and outstanding as of December 31, 2024, respectively 8 8 Additional paid-in capital 265,675 264,198 Accumulated deficit (256,085 ) (247,770 ) Treasury stock, at cost; common shares: 26,476 and 29,419 as of March 31, 2025 and December 31, 2024, respectively (67 ) (192 ) Total stockholders' equity 9,531 16,244 Total liabilities and stockholders' equity $ 18,065 $ 26,365 AQUA METALS, Consolidated Statements of Operations - Unaudited(in thousands, except share and per share amounts) Three Months Ended March 31, 2025 2024 Operating cost and expense Plant operations $ 724 $ 2,209 Research and development cost 336 588 Impairment expense 5,247 — General and administrative expense 2,376 2,995 Total operating expense 8,683 5,792 Loss from operations (8,683 ) (5,792 ) Other income and (expense) Interest expense (403 ) (106 ) Interest and other income 280 146 Change in fair value of warrant liability 491 — Total other income, net 368 40 Net loss $ (8,315 ) $ (5,752 ) Weighted average shares outstanding, basic and diluted 8,095,716 5,502,730 Basic and diluted net loss per share $ (1.03 ) $ (1.05 )
Yahoo
08-04-2025
- Business
- Yahoo
Aqua Metals Pioneers Domestic LFP Recycling with Breakthrough Bench-Scale Testing
LFP Integration Doubles Lithium Production Potential for Multi-Chemistry Battery Recycling at ARC Facilities RENO, Nev., April 08, 2025 (GLOBE NEWSWIRE) -- Aqua Metals (NASDAQ: AQMS), a pioneer in sustainable lithium battery recycling, today announced the successful completion of bench-scale testing and engineering analysis for a novel process to recycle lithium iron phosphate (LFP) battery materials. This milestone highlights Aqua Metals' proven ability to rapidly adapt its technology to market needs, reinforcing its position as a leader in building a resilient, circular battery supply chain that retains critical mineral processing within the United States. LFP batteries are rapidly becoming the dominant chemistry for electric vehicles and stationary storage due to their lower cost and safety advantages. However, their widespread adoption presents a significant recycling challenge, as iron-based cathodes with no nickel or cobalt have lower market value and global lithium prices remain suppressed. While most domestic recyclers continue to focus on higher-value chemistries, Aqua Metals is stepping ahead of the curve with a demonstrated approach to recovering lithium from LFP black mass—positioning itself as a first mover in addressing this critical and underserved segment of the U.S. battery supply chain. 'We believe this is an important step in our strategy to develop the most adaptable and scalable lithium battery recycling platform in the industry,' said Steve Cotton, President and CEO of Aqua Metals. 'Our ability to integrate LFP recovery into our existing plans demonstrates how we can evolve with market needs while maintaining a focus on efficiency, sustainability, and long-term impact.' The Company's engineering and technoeconomic analysis shows that the LFP recycling process can be integrated into the planned Sierra ARC facility and/or any ARC facility with an incremental capital expense of 25 to 30% and without the need to expand the facility's proposed physical footprint. The Sierra ARC is currently designed to process approximately 7,500 tonnes per year of NMC-type (nickel-manganese-cobalt) black mass. With the addition of LFP capabilities, the campus could process an additional 7,500 tonnes of LFP feedstock annually—potentially doubling its total feedstock throughput and importantly, doubling total lithium carbonate output to approximately 2,700 tonnes per year. Upon commissioning, this commercial-scale operation would increase the total current U.S. lithium production by more than 50% annually, making Aqua Metals one of the largest producers of domestic battery grade lithium carbonate. 'Recycling LFP batteries has posed a major technical hurdle for the industry due to its unique chemistry and limited market value,' said Ben Taecker, Chief Engineering and Operating Officer at Aqua Metals. 'This milestone demonstrates how adaptable our technology platform is — and positions Aqua Metals at the forefront of building the next generation of clean, scalable recycling solutions for the evolving battery landscape in North America.' With this advancement, Aqua Metals is positioning itself to meet the growing need for LFP recycling, ensuring that valuable lithium remains in the domestic supply chain and supporting U.S. leadership in clean energy and advanced manufacturing. About Aqua Metals Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing metals recycling with its patented AquaRefining™ technology. The Company is pioneering a sustainable recycling solution for materials strategic to energy storage and electric vehicle manufacturing supply chains. AquaRefining™ is a low-emissions, closed-loop recycling technology that replaces polluting furnaces and hazardous chemicals with electricity-powered electroplating to recover valuable metals and materials from spent batteries with higher purity, lower emissions, and minimal waste. Aqua Metals is based in Reno, NV and operates the first sustainable lithium battery recycling facility at the Company's Innovation Center in the Tahoe-Reno Industrial Center. To learn more, please visit Aqua Metals Social Media Aqua Metals has used, and intends to continue using, its investor relations website ( in addition to its X, Threads, LinkedIn and YouTube accounts at (@AquaMetalsInc), (@aquametalsinc), and respectively, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Safe Harbor 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", "estimates", "potential" and variations of such words or similar expressions that convey the uncertainty of future events or outcomes, or that do not relate to historical matters. The forward-looking statements in this press release include our expectations for our advancement of our LFP recycling process, including the expected benefits of such process.. Those forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially, including, but not limited to, the risk that (1) we have not commenced the commercial production of recycled black mass using our LFP recycling process or otherwise; (2) there can be no assurance we will be able to realize the expected benefits of our LFP recycling process once we commence commercial recycling; (3) the risk we may not be able to successfully acquire the funding necessary to develop our Sierra ARC facility required to commence commercial recycling; (4) even if we are to able acquire the necessary funding, the risk we may not be able to successfully develop the Sierra ARC facility or realize the expected benefits from such facility; (5) the risk that we may not be able to acquire the funding necessary to maintain our current level of operations; and (6) those risks disclosed in the section "Risk Factors" included in our Annual Report on Form 10-K filed on March 31, 2025. 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 on new circumstances or unanticipated events as they occur, except as required by law. Contact Information Investor RelationsBob Meyers & Rob FinkFNK IR646-878-9204aqms@ MediaDavid ReganAqua in to access your portfolio
Yahoo
31-03-2025
- Business
- Yahoo
Aqua Metals Reports Milestone Advancements, Strategic Progress, and Sierra ARC Lithium Battery Recycling Campus Developments in 2024
Validated closed-loop battery recycling technology, built commercial partnerships, and revised economic model to better pursue funding and scale domestic battery mineral production RENO, Nev., March 31, 2025 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS), a pioneer in sustainable lithium battery recycling, today announced key achievements from 2024 and outlined progress for 2025 as the Company delivered critical technical milestones and high-purity material production through its proprietary Li AquaRefining™ process. In the past year, Aqua Metals delivered industry-first milestones, strengthened commercial partnerships and opportunities, and expanded its strategic vision to build a resilient, low-capex, and rapidly scalable platform for critical mineral recovery in the U.S. The Company's innovative Li AquaRefining™ process achieved key validation milestones, proving performance at scale while offering superior environmental and economic advantages over conventional recycling methods. With the primary building for Phase One of the Sierra ARC fully upgraded and ready for equipment installation, Aqua Metals is prepared to commence equipment installation and commissioning as well as the buildout of a new adjacent building to enable processing of 7,000 tonnes of black mass feedstock annually. These final steps in commercialization depend upon securing the remaining financing for the CAPEX and G&A funding required to complete the project — and position the Company to become a domestic leader in the closed-loop, clean energy supply chain. 2024 Progress and 2025 Momentum Highlights Technology Proven, Products Validated Successfully operated the Li AquaRefining™ pilot for over a year, achieving >99% recovery of lithium, cobalt, and nickel with 83% lower CO₂ emissions than hydrometallurgy. Completed a three-week, 24/7 endurance run of the Li AquaRefining™ pilot in December 2024, demonstrating reliable, continuous performance and readiness for commercial scale-up. Produced more than 600 pounds of >99.5% pure lithium carbonate — one of the only current U.S.-based sources of battery-grade recycled lithium at this scale. Supplied AquaRefined high-purity battery grade lithium carbonate to multiple CAM producers for analysis and testing for LFP cell development. Achieved a major U.S. milestone by converting recycled domestic nickel into cathode active material (CAM) with a downstream CAM producer, now under validation by top-tier battery manufacturers in Asia and the U.S. Commercial Scale in Motion: Sierra ARC Completed key Phase One construction and upgrade milestones at the Sierra ARC facility, intended to enable a rapid transition to accepting black mass for processing and initiating critical mineral production at scale. Expanded initial production scope to prioritize lithium carbonate and mixed hydroxide precipitate (MHP), more than doubling lithium output without significantly increasing capital cost. The updated plan, for which the company continues to seek financing, is designed to reduce capital equipment intensity, shorten time-to-revenue, and deliver a targeted three-year payback — even in a currently challenging strategic battery metals commodity market. Strategic Partnership Advancements Signed a long-term supply agreement with 6K Energy to provide up to 30% of the recycled content for its domestic cathode manufacturing facility, creating one of North America's first closed-loop battery material partnerships, pending further financing for both parties. Advanced multiple potential feedstock and offtake agreements to support consistent throughput and strengthen Sierra ARC's commercial foundation. Exploring licensing and co-location opportunities to extend AquaRefining™ technology beyond Aqua Metals' owned facilities. Financial Raised approximately $15 million in equity with insider participation demonstrating internal confidence. Received a $2.2 million tax abatement from the State of Nevada, tied to the ARC's projected $392 million economic impact and job creation, as calculated by the Nevada Governor's Office of Economic Development. Closed $1.5M interim bridge financing in December 2024 — over two-thirds of which was contributed by Aqua Metals' leadership and Board. Recognition and Resilience Selected by the U.S. Department of Energy to join the ACME-REVIVE program, supporting domestic recovery of critical minerals. Named a 'Top Project of 2024' by Environment + Energy Leader for groundbreaking work in clean battery materials. Recognized by Nevada's economic development authorities for leadership in sustainability and clean energy job growth. Recognized as the only finalist in the Lithium loop of Nevada for 'Best Places to Work in Northern Nevada Awards' by Northern Nevada Human Resources Association. Strengthened the Board with experienced leaders from the battery and finance sectors to guide commercialization and strategic growth. 'Our team delivered in 2024 — proving and de-risking our technology at the pilot plant, advancing existing and potential commercial partnerships, and preparing for commercialization,' said Steve Cotton, President and CEO of Aqua Metals. 'In a year where much of the battery industry has faced delays and headwinds, we adapted with speed and discipline. The result is a more resilient, capital-efficient strategy that positions us to move fast and flexibly.' 'We've reimagined how to commercialize our first production facility to meet the realities of today's strategic battery minerals market while staying true to our long-term vision,' Cotton added. 'By prioritizing higher-margin products and deepening strategic partnerships, we believe that subject to securing the additional financing we need, we will steadily progress our path to revenue while building the foundation for a sustainable, closed-loop supply chain in the U.S.' About Aqua Metals Aqua Metals, Inc. (NASDAQ: AQMS) is reinventing metals recycling with its patented AquaRefining™ technology. The Company is pioneering a sustainable recycling solution for materials strategic to energy storage and electric vehicle manufacturing supply chains. AquaRefining™ is a low-emissions, closed-loop recycling technology that replaces polluting furnaces and hazardous chemicals with electricity-powered electroplating to recover valuable metals and materials from spent batteries with higher purity, lower emissions, and minimal waste. Aqua Metals is based in Reno, NV and operates the first sustainable lithium battery recycling facility at the Company's Innovation Center in the Tahoe-Reno Industrial Center. To learn more, please visit Aqua Metals Social Media Aqua Metals has used, and intends to continue using, its investor relations website ( in addition to its Twitter, Threads, LinkedIn and YouTube accounts at (@AquaMetalsInc), (@aquametalsinc), and respectively, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Safe Harbor 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", "estimates", "potential" and variations of such words or similar expressions that convey the uncertainty of future events or outcomes, or that do not relate to historical matters. The forward-looking statements in this press release include our expectations for our advancement of proposed and existing partnerships, including our supply agreement with 6K Energy and our continued participation in the production of CAM made from 100% domestically sourced, recycled nickel, and the expected benefits from those partnerships; our intent to complete the development and commissioning of our Phase 1 facility; and our vision to build a resilient, low-capex, and rapidly scalable platform for mineral recovery. Those forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially, including, but not limited to, the risk that (1) we have not commenced the development of our co-location facility with 6K Energy, (2) we do not have any definitive agreements with CAM manufacturers to provide them with recycled nickel from our AquaRefining process; (3) the risk we may not be able to successfully acquire the funding necessary to develop our Sierra ARC facility required to produce recycled nickel in commercial quantities, (4) even if we are to able acquire the necessary funding, the risk we may not be able to successfully develop the Sierra ARC facility or realize the expected benefits from such facility; (5) the risk that we may not be able to acquire the funding necessary to maintain our current level of operations; and (6) those risks disclosed in the section "Risk Factors" included in our Annual Report on Form 10-K filed on March 31, 2025. 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 on new circumstances or unanticipated events as they occur, except as required by law. Contact Information Investor RelationsBob Meyers & Rob FinkFNK IR646-878-9204aqms@ MediaDavid ReganAqua AQUA METALS, Consolidated Balance Sheets - Unaudited(in thousands, except share and per share amounts) December 31, December 31, 2024 2023 ASSETS Current assets Cash and cash equivalents $ 4,079 $ 16,522 Note receivable - LINICO 100 600 Accounts receivable — 67 Inventory 251 929 Prepaid expenses and other current assets 214 181 Total current assets 4,644 18,299 Non-current assets Property, plant and equipment, net 16,473 10,347 Intellectual property, net 146 281 Other assets 5,102 4,673 Total non-current assets 21,721 15,301 Total assets $ 26,365 $ 33,600 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 1,227 $ 1,836 Accrued expenses 3,130 2,467 Lease liability, current portion 289 275 Notes payable related-party, current portion 306 — Notes payable, current portion 3,230 35 Total current liabilities 8,182 4,613 Lease liability, non-current portion 446 — Notes payable, non-current portion — 2,923 Warrant liability 1,493 — Total liabilities 10,121 7,536 Commitments and contingencies (see Note 14) Stockholders' equity Common stock; $0.001 par value; 300,000,000 shares authorized; 7,760,255 and 7,730,836, shares issued and outstanding as of December 31, 2024, respectively and 5,415,433 and 5,394,005 shares issued and outstanding as of December 31, 2023 8 5 Additional paid-in capital 264,198 249,790 Accumulated deficit (247,770 ) (223,215 ) Treasury stock, at cost; common shares: 29,419 and 21,428 as of December 31, 2024 and December 31, 2023, respectively (192 ) (516 ) Total stockholders' equity 16,244 26,064 Total liabilities and stockholders' equity $ 26,365 $ 33,600 AQUA METALS, Consolidated Statements of Operations - Unaudited(in thousands, except share and per share amounts) Year ended December 31, 2024 2023 Product sales $ — $ 25 Operating cost and expense Plant operations 7,213 6,282 Research and development cost 1,587 1,741 Impairment expense 2,640 4,851 Loss (gain) on disposal of property, plant and equipment 440 (23 ) General and administrative expense 11,967 11,638 Total operating expense 23,847 24,489 Loss from operations (23,847 ) (24,464 ) Other income and expense Interest and other income 376 1,147 Interest expense (574 ) (621 ) Change in fair value of warrant liability (507 ) — Total other income (expense), net (705 ) 526 Loss before income tax expense (24,552 ) (23,938 ) Income tax expense (3 ) — Net loss $ (24,555 ) $ (23,938 ) Weighted average shares outstanding, basic and diluted 6,419,607 4,696,597 Basic and diluted net loss per share $ (3.83 ) $ (5.10 ) Sign in to access your portfolio
