Aqua Metals Social Media Aqua Metals has used, and intends to continue using, its investor relations website (https://ir.aquametals.com), in addition to its X, Threads, LinkedIn and YouTube accounts at https://x.com/AquaMetalsInc (@AquaMetalsInc), https://www.threads.net/@aquametalsinc (@aquametalsinc), https://www.linkedin.com/company/aqua-metals-limited and https://www.youtube.com/@AquaMetals respectively, as means of disclosing material non-public information and for complying with its disclosure obligat ...

Core Viewpoint - Aqua Metals has successfully produced the first-ever cathode active material (CAM) made from 100% domestically sourced, recycled nickel, marking a significant advancement in establishing a sustainable battery supply chain in the U.S. [1][5] Company Summary - Aqua Metals utilizes its proprietary AquaRefining™ process to recover high-purity nickel from spent lithium-ion batteries and battery manufacturing scrap, refining it into battery-grade nickel nitrate, a precursor for advanced cathode production [2][11] - The company collaborates with domestic CAM manufacturing partners to convert nickel nitrate into battery-grade CAM, which is currently undergoing evaluation by a tier-one lithium battery manufacturer [2][3] - Initial testing indicates that the recycled nickel CAM meets industry-standard specifications, ensuring compatibility with existing cell production processes [3] Industry Summary - The U.S. lithium battery industry is projected to exceed 1.2 TWh of annual cell production capacity by 2030, highlighting the need for a domestic supply chain for critical materials like nickel, cobalt, and manganese [6] - Establishing a circular supply chain for battery materials is essential for reducing dependence on foreign sources and supporting sustainability goals [6][7] - Aqua Metals' closed-loop production process reduces the carbon footprint of CAM manufacturing by approximately 87% compared to sourcing from China, emphasizing the environmental and economic benefits of a domestic supply chain [4][8] Sustainable Practices - Aqua Metals' AquaRefining™ process eliminates waste and emissions associated with traditional metal refining methods, contributing to a lower environmental impact [8][9] - The collaboration with CAM manufacturers aims to advance sustainable production methods, further reducing waste and environmental burdens [8][9] Future Outlook - The successful production and testing of recycled nickel-based CAM lays the groundwork for expanding U.S.-based battery recycling and material production, reinforcing Aqua Metals' leadership in clean energy innovation [10]

Industry Leader Steve Henderson and Finance Expert Eric Gangloff Bring Strategic Expertise to Support GrowthRENO, Nev., Feb. 06, 2025 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS), a leader in clean metals recycling, today announced the appointment of Steve Henderson and Eric Gangloff to its Board of Directors. These additions bring deep industry expertise and financial leadership, supporting the Company’s mission to scale its cost leading and low-carbon lithium battery recycling technology and accel ...

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Core Viewpoint - Aqua Metals, Inc. is accelerating its strategy to enhance revenue and margins at its AquaRefining™ facility by prioritizing the production of battery-grade lithium carbonate, aiming to more than double initial production targets while also producing Mixed Hydroxide Precipitate (MHP) and other materials [1][2][4]. Group 1: Strategy and Market Position - The company aims to streamline market entry and optimize capital efficiency, which will enable faster revenue generation and technology validation at scale [2][5]. - By focusing on lithium carbonate and MHP production, Aqua Metals believes it can reduce capital requirements and position itself as a key supplier of low-carbon battery-grade materials [3][4]. - The scalable nature of AquaRefining™ technology is expected to facilitate future expansions into full metal refining as market conditions evolve [3][6]. Group 2: Financial and Operational Efficiency - The updated strategy is designed to lower capital and operational intensity, allowing for a larger-scale facility that generates higher revenue and margins, with an attractive payback period of approximately three years even at current lower metals prices [6]. - The company is actively engaging with potential financial backers and partners to support its accelerated commercialization and product suite plan [5][6]. Group 3: Industry Partnerships and Future Growth - Aqua Metals is in discussions with feedstock suppliers and offtake partners to strengthen its position in the domestic critical minerals supply chain [4][6]. - The company plans to continue qualifying battery-grade materials through its pilot program and ongoing collaborations with original equipment manufacturers (OEMs) and cell manufacturers [3][4].

Core Insights - Aqua Metals, Inc. has achieved significant operational milestones at its pilot facility, showcasing the effectiveness and scalability of its proprietary Li AquaRefining process [1][2] - The company successfully closed a $1.5 million bridge loan to fund operations while pursuing long-term financing [1][4] Operational Highlights - The pilot facility completed its first multi-week continuous operation campaign, achieving over 99% recovery rates for lithium, cobalt, and nickel from black mass [2] - Over 600 lbs. of battery-grade lithium carbonate produced in December, with nickel and cobalt recovery at 96.5%+ and 99%+ purity levels respectively [2] - Advanced process controls improved throughput and efficiency, setting the stage for scalability at the commercial level [2] - The pilot facility operated continuously for three weeks, achieving over 90% uptime [2] Financial Update - The $1.5 million bridge loan was partially funded by management and Board members, indicating strong confidence in the company's long-term potential [3][4] - The financing aims to support the buildout of the Sierra ARC commercial facility and future growth [4][5] Future Outlook - Aqua Metals is committed to sustainably recycling critical minerals, aligning with the increasing demand for electric vehicles and clean energy technologies [6] - The company anticipates providing further updates on financing, commercial partnerships, and operational progress in early 2025 [6]

Core Insights - Aqua Metals is advancing sustainable lithium battery recycling through its proprietary AquaRefining™ technology, achieving high recovery rates and producing battery-grade materials [2][5][8] - The company has successfully closed a $1.5 million bridge loan to support operations and long-term financing efforts, with over 50% funded by management and board members [10][18] - Significant operational milestones include over 99% recovery rates for lithium, cobalt, and nickel, and the production of over 600 lbs. of battery-grade lithium carbonate [9][17] Operational Highlights - Achieved over 99% recovery rates for lithium, cobalt, and nickel from black mass using a proprietary leaching process [9] - Produced over 600 lbs. of battery-grade lithium carbonate in December [9] - Nickel and cobalt recovery at 96.5%+ and 99%+ purity levels respectively [9] - Demonstrated advanced process controls that improved throughput and efficiency, setting the stage for scalability [9] - Successfully operated the pilot facility continuously for three weeks, achieving over 90% uptime [9] Financial Update - The $1.5 million bridge loan is a strategic step to maintain momentum while advancing commercial agreements and securing funding [10][18] - Management anticipates a resolution on long-term financing in Q1 2025, which will support the buildout of the Sierra ARC commercial facility [2][18] Future Outlook - Aqua Metals is committed to scaling operations at the Sierra ARC and expanding U.S. capacity for sustainable battery recycling [18] - The company expects to provide further updates on financing, commercial partnerships, and operational progress in early 2025 [18]

Financial Data and Key Metrics Changes - The company ended the quarter with total cash of approximately $3 million [23] - The net loss for Q3 2024 was approximately $5.2 million or a negative $0.76 per share, compared to a net loss of $4.5 million or a negative $0.89 per share for the same quarter in 2023 [28] - The net loss for the nine months ended September 30, 2024, was approximately $17 million or a negative $2.77 per share, compared to a net loss of $13.9 million or a negative $3.12 per share for the same period in 2023 [29] Business Line Data and Key Metrics Changes - Costs related to plant operations were approximately $1.6 million for the quarter, representing a 9% decrease due to a reduction in payroll and payroll-related fees [25][26] - General and administrative expenses were little changed compared to the prior year, with expectations for a decrease in Q4 and into 2025 [27] Market Data and Key Metrics Changes - The pilot facility has consistently achieved 24-hour operational capacity, producing high-purity battery-grade lithium carbonate with over 99.5% purity [10] - The design capacity of the pilot facility is between 50 tons and 100 tons per year, with materials being sent to various OEMs for evaluation [61] Company Strategy and Development Direction - The company is focused on three main objectives: demonstrating the repeatability of its lithium AquaRefining processes, securing long-term financing, and establishing commercial partnerships [9] - The company aims to become the first truly commercial scale lithium battery recycler in the U.S. and is preparing for commissioning of the Sierra ARC facility within two to three quarters [19][46] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future opportunities for grant funding despite not being selected for the latest round of the MESC grant [32] - The company is having great discussions with multiple parties regarding long-term financing and expects to report more on these activities soon [34][37] Other Important Information - A reverse stock split was implemented at a ratio of 1 post-split share for every 20 pre-split shares to meet NASDAQ listing requirements [23][24] - The company is advancing additional customer partnerships to secure feedstock supply and has established agreements with battery manufacturers [20] Q&A Session Summary Question: Status of the DOE grant for Phase 2 - The company was not selected for the latest round of the MESC grant but remains optimistic about future opportunities [32] Question: Status and structure of long-term financing - The company is in discussions with multiple parties regarding financing and prioritizing strategic capital for Phase 1 and Phase 2 of the Sierra ARC [33][34] Question: Monthly expenses and plant operations - Monthly expenses are expected to be about $500,000 to $600,000, including G&A and operations [38] Question: Commissioning schedule for the Sierra ARC - The company projects commissioning within two to three quarters, pending funding [46] Question: Current status of processed materials - Processed materials are being sent to OEMs for evaluation, with a focus on developing commercial relationships rather than generating immediate revenue [61]

Exhibit 99.1 Aqua Metals Announces Progress on Long-Term Financing, Operational Achievements, and Ongoing Commercial Development, Reports Third Quarter 2024 Results Company Produces High-Purity, Battery-Grade Lithium Carbonate from Pilot Operations, Working to Advance Financing and Commercial Agreements RENO, Nev., November 14, 2024 – Aqua Metals, Inc. (NASDAQ: AQMS), a leader in sustainable lithium battery recycling, today reported financial results for the third quarter ended September 30, 2024 and provid ...

Financial Performance - Product sales for the three months ended September 30, 2024, were $25 million, compared to $25 million for the same period in 2023, indicating no growth year-over-year[6] - Net loss for the three months ended September 30, 2024, was $5,210 million, compared to a net loss of $4,547 million for the same period in 2023, indicating a worsening of approximately 14.6%[6] - Basic and diluted net loss per share improved from $(0.89) for the three months ended September 30, 2023, to $(0.76) for the same period in 2024[6] - For the nine months ended September 30, 2024, Aqua Metals reported a net loss of $17.1 million, compared to a net loss of $13.9 million for the same period in 2023, representing a 23% increase in losses[14] - The company reported a net cash used in operating activities of $11.637 million for the nine months ended September 30, 2024, compared to a net cash provided of $2.222 million for the same period in 2023, indicating a significant decline in operational cash flow[100] Expenses and Liabilities - Total operating expenses increased from $14,322 million for the nine months ended September 30, 2023, to $17,165 million for the same period in 2024, reflecting a rise of approximately 19.8%[6] - General and administrative expenses for the three months ended September 30, 2024, were $2,748 million, slightly down from $2,815 million for the same period in 2023[6] - Total current liabilities increased from $4,613 million as of December 31, 2023, to $7,065 million as of September 30, 2024, an increase of approximately 53.2%[4] - The company has a working capital deficit of $2.9 million as of September 30, 2024, indicating financial strain and the need for additional capital[97][98] Cash and Assets - Cash and cash equivalents decreased significantly from $16,522 million as of December 31, 2023, to $2,950 million as of September 30, 2024, a decline of approximately 82.1%[4] - Total assets decreased from $33,600 million as of December 31, 2023, to $28,483 million as of September 30, 2024, representing a decline of approximately 15.2%[4] - As of September 30, 2024, Aqua Metals had cash and cash equivalents of approximately $3.0 million and current liabilities of $7.1 million, including a note payable of approximately $3 million due on February 1, 2025[14] Stock and Equity - Total stockholders' equity as of September 30, 2024, is $20,898,000, a decrease from $26,064,000 as of December 31, 2023[8] - Common stock issued for public offerings, net of transaction costs, amounted to 1,006,250 shares, raising $7,306,000[8] - The accumulated deficit as of September 30, 2024, stands at $240,327,000, an increase from $223,215,000 as of December 31, 2023[8] - The company issued 129,857 shares of common stock upon vesting of Restricted Stock Units (RSUs) during the nine months ended September 30, 2024[50] Operations and Future Plans - The company has not generated revenues from commercial operations and anticipates continuing to incur losses for the foreseeable future[15] - Aqua Metals is focused on developing clean, water-based recycling solutions for lead and lithium-ion batteries through its patented AquaRefining technology[11] - The company is in the process of demonstrating that its lithium AquaRefining can achieve higher quality and yields of recovered minerals from lithium-ion batteries with lower waste streams[12] - Aqua Metals plans to operate its first lithium battery recycling facility, utilizing electricity instead of intensive chemical processes[13] Legal and Compliance - Aqua Metals, Inc. entered into a loan agreement for $3 million with a fixed annual interest rate of 9.50% to purchase a building[48] - The company is not currently involved in any legal proceedings that would materially affect its business or financial condition[69] Inventory and Equipment - As of September 30, 2024, total inventory was $330,000, down from $929,000 as of December 31, 2023, reflecting a decrease in raw materials[34] - Property, plant, and equipment, net increased to $16,615,000 as of September 30, 2024, compared to $10,347,000 as of December 31, 2023[37] - Equipment deposits increased to $6,920,000 as of September 30, 2024, from $4,291,000 as of December 31, 2023[38] Management and Strategy - Management expressed substantial doubt regarding the company's ability to continue as a going concern for at least the next twelve months due to expected significant losses and insufficient capital resources[98][107] - The company plans to improve its liquidity position through equity or debt financings and/or reductions in operating costs to meet its capital requirements[97][98]