Aqua Metals Receives Additional Allowances on Patent Applications for its Battery Recycling Technology
17 October 2018 - 11:00PM
Grants & Allowances Now Total
13
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.
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” 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)
220-2678aziegler@darrowir.com
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/a6db62a5-def5-4fe2-98ad-9f086cdf0913
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