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]

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

RENO, Nev., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Aqua Metals, Inc. (NASDAQ: AQMS), a pioneer in sustainable lithium-ion battery recycling, today announced that it intends to effect a reverse stock split of its common stock at a ratio of 1 post-split share for every 20 pre-split shares. The reverse stock split will become effective at 12:01 a.m. Eastern Time, on November 5, 2024. The Company's common stock will continue to be traded on the Nasdaq Capital Market under the symbol “AQMS” and will begin trading on ...

Shares of Aqua Metals (AQMS) have been struggling lately and have lost 24.1% over the past four weeks. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish case ...

Core Insights - Aqua Metals Inc is focused on innovating clean recycling solutions for lithium-ion batteries, utilizing a fully electrified process that significantly reduces carbon emissions and waste compared to traditional methods [1][2] - The company aims to produce materials such as cobalt, nickel, and lithium carbonate that can re-enter the battery supply chain, benefiting major OEMs and contributing to a circular economy [2][3] Company Overview - Aqua Metals is developing a clean recycling process for lithium-ion batteries that minimizes carbon dioxide emissions, which can often exceed the weight of the batteries themselves [1] - The company has established a pilot facility at the Tahoe Reno Industrial Center, which has been operational for nearly a year, validating its technology and processes [3][4] Production Facility Status - The commercial-scale Phase One facility, named Sierra Arc, is under construction and aims to produce truckload quantities of recycled materials by early next year [4] - The facility is located near the pilot operation and has already begun equipment installation [4] Market Opportunities - The U.S. battery production is projected to grow significantly, with the Tesla Gigafactory's capacity expected to increase from 0.05 terawatt hours to 1.2 terawatt hours by the end of the decade, generating substantial scrap material for recycling [5] - By the end of the decade, approximately one million tons of black mass will require recycling, indicating a growing demand for recycling capacity that exceeds current capabilities [6] Partnerships and Collaborations - Aqua Metals is actively seeking partnerships with car manufacturers and other potential collaborators, having already provided samples of recycled materials to the market [4][5] - The company anticipates forming more alliances as it scales up production and establishes its commercial facility [5]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 001-37515 Aqua Metals, Inc. (Exact name of registrant as specified in its charter) Delaware 47-1169572 (State or other juri ...

Aqua Metals, Inc. (NASDAQ:AQMS) Q2 2024 Earnings Conference Call August 5, 2024 4:30 PM ET Company Participants Robert Meyers - FNK IR Steve Cotton - Chief Executive Officer, President and Director Judd Merrill - Chief Financial Officer Conference Call Participants Michael Legg - The Benchmark Company Sameer Joshi - H.C. Wainwright Robert Meyers Thank you, operator, and thank you, everybody, for joining. Earlier today, Aqua Metals issued a press release providing an operational update and discussing financ ...