AQUA METALS, INC. (NASDAQ:AQMS) Files An 8-K Other Events
Item 8.01 Other Information.
On November 29, 2019, a fire occurred at our lead recycling facility at the Tahoe Regional Industrial Center, or TRIC, in McCarran, Nevada. The cause of the fire is under investigation and not known at this time, and we are continuing to assess the resulting damage. However, as of the date of this report, it appears that the fire has caused significant damage to various key components of our lead recycling equipment, including significant damage to all 16 of our presently installed AquaRefining modules.
We are currently reviewing available insurance coverage and the financial impact of the damage.
We have suspended all operations at TRIC except those related to clean-up and damage assessment. Until such time as we have completed our assessment of the fire damage and available insurance coverage, we are unable to estimate a timeline for resuming lead recycling operations. As of the date of this report, however, we expect it to be at least several months before we are able to resume operations. In addition, resuming operations will be subject to our receipt of additional capital by way of insurance recovery or otherwise.
On December 2, 2019, Aqua Metals Inc. issued a press release announcing the fire at its TRIC facility. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
The following exhibit is being filed herewith:
|99.1||Press Release dated December 2, 2019|
Aqua Metals, Inc. Exhibit
EX-99.1 2 ex99-1.htm NEWS RELEASE For Immediate Release Contact: Glen Akselrod,…
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About AQUA METALS, INC. (NASDAQ:AQMS)
Aqua Metals, Inc. is engaged in the business of recycling lead through a process that the Company developed and named AquaRefining. AquaRefining process will provide for the recycling of lead acid batteries (LABs) and the production of lead. AquaRefining is a water-based ambient temperature process. The modular nature of AquaRefining makes it possible to start LAB recycling at a smaller scale than is possible with smelters. Its AquaRefining process begins with the crushing of used LABs and the separation of the metallic lead, active material (lead compounds), sulfuric acid and plastic for recycling. The active material is dissolved in its solvent. The primary lead is then stripped from the solvent using its automated process allowing the solvent to be reused continuously and indefinitely. Its AquaRefining process generates over three outputs, such as lead; cleaned plastic chips, recovered from battery casings, and sulfuric acid. The Company has not generated revenues.