Aqua Metals Inc. (AQMS)

Aqua Metals, Inc., incorporated on June 20, 2014, is engaged in the business of recycling lead through a process that the Company developed and named AquaRefining. AquaRefining process intends to 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 much 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, which is recovered as part of its AquaRefining process.

The AquaRefining process has approximately two elements, both of which are integral to its application. The first is its use of a non-toxic solvent that dissolves lead compounds. The second is an electro-chemical process and electrolyzer that converts the dissolved lead compounds into primary grade lead on an automated basis. AquaRefining uses an aqueous solvent and an electro-chemical process to produce pure lead. Its electro-chemical process requires less energy than the endothermic high temperature chemical reduction that is at the core of smelting. Its electro-chemical process does not generate high temperature dust and gas, or the lead containing slag and dross.

Mission:  
BATTERY RECYCLING WITHOUT THE ISSUES - to eliminate the inefficiency, costs and toxic waste associated with conventional smelter based recycling of Lead Acid Batteries.  
Our Breakthrough, AquaRefining, delivers a better product, at a higher yield, eliminates toxic waste, reduces permitting is less expensive to build than smelting.
 

Officers and Directors:
CEO, Chairman of the Board, President, Co-founder:  Stephen R. Clarke (Dr.) - Steve is responsible for the overall corporate vision and strategy and is involved in all cross-functional areas of Aqua Metals. Steve has spent the last two decades developing, commercializing and monetizing disruptive technologies focused on advanced batteries and advanced materials.  Prior to Aqua Metals Steve co-founded Applied Intellectual Capital in 1993 to develop advanced batteries and related technologies and was its CEO throughout its two decades of operation. He took AIC public in 2007 and returned it to the the private sector during the financial crisis of 2009 and spent the next 4 years commercializing its advanced lead acid battery technology.  Steve started his career in aerospace developing, producing and commercializing mission critical products and services, with Rolls-Royce plc. Steve built on this, with extensive management consulting experience in corporate turn-around, Crisis Management, M&A Roll-ups, and Supply Chain Management before starting his own businesses.  Steve holds a Ph.D. in computer simulation and manufacturing management from The University of Aston, UK, a BSc in mechanical engineering from Nottingham Trent University, UK and an MSc/MBA in engineering enterprise management from The University of Warwick, UK. 

Co-Founder, Chief Financial Officer, Director: Thomas Michael Murphy - Thomas Murphy is our Chief Financial officer and a co-founder. Thomas is responsible for all financial and general administrative areas of the company as well as corporate real estate and human resources. Thomas is also a member of our board directors since inception in June 2014. Thomas worked alongside Mr. Clarke and Mr. Mould in the development of the AquaRefining process and our current business before the formation of the Company.  Thomas served as Chief Financial Officer of Applied Intellectual Capital, Ltd. an incubator for technologies using electrochemistry. Applied Intellectual Capital was listed on the AIM exchange in London and had operations in four countries.  Earlier in his career, Thomas was Controller for two international specialty construction companies. The work involved domestic as well as jobs in Asia, Central and South America. He was also the Chief Financial Officer for Target Publishing, the largest financial newsletter publisher at the time of his employment. Other previous positions include Chief Financial Officer of a national bakery, Controller of an aircraft sales and leasing company and Controller of a cargo airline. 

Co-Founder, Chief Operating Officer: Selwyn Mould - Selwyn Mould is Aqua Metals’ Chief Operating Officer and a co-founder. Selwyn is responsible for Aqua Metals’ operations, including AquaRefinery operation, equipment manufacturing, manufacturing strategy, technology development, process development and product engineering. Prior to Aqua Metals, Selwyn served as Chief Operating Officer of Applied Intellectual Capital, where he led manufacturing strategy, supply chain, technology development and process development. In addition, he headed the business venture that developed and commercialized an advanced lead acid battery. Selwyn started his career in manufacturing before broadening his experience with senior roles in supply chain and operations. He began at Chloride in the UK as a production supervisor and then production manager in the Motive Power division where he learnt about the lead acid battery industry and developed a hands-on, team based approach to leadership. From here he moved into management consulting, first for Touche Ross and then for Gemini Consulting, where he led corporate turnaround and operations improvement programs across Europe and North America. Following this, Selwyn was Head of Logistics for Pilkington, the glassmaker, where he helped integrate separate European businesses into a single operation and was responsible for planning and scheduling, inventory management, distribution and customer service. From here he became Head of Supply Chain for Group Lotus plc, the sports car manufacturer and engineering consultant, where he lead the business through significant change as vehicle production was trebled and component manufacturing was outsourced to strategic suppliers. Selwyn has an MA in Natural Sciences from the University of Cambridge. 

Chief Commercial Officer: Stephen Cotton - Steve Cotton is Aqua Metals’ Chief Commercial Officer. Steve is responsible for Aqua Metals’ commercial activities, including supply chain partnerships, offtake partnerships, marketing, business development and management of the Aqua Metals brand. Prior to joining Aqua Metals in January, 2015, Steve co-founded Canara, Inc. (a global provider of battery and monitoring systems and services to data center operators) in December 2001 and served as its Chief Executive Officer from the early phases of running the company from his garage in Mill Valley, CA through several years of rapid growth and globalization of the company’s battery and battery monitoring products and services. After the sale of the company to a private equity firm in June 2012, Steve served as Executive Chairman until April 2014. Steve started his career in Product Management, Business Development and Sales roles focused on wireless and wireline carriers for 11 years in this segment with Octel Communications which was acquired by Lucent Technologies. He was also one of the first people to join Sendmail, Inc. to commercialize the open source email software company which still today is a key ingredient of the Internet. Steve has a B.S. in Computer Information Systems with a focus on Telecommunications from California State University, Chico. Steve also has several awarded patents in the area of battery monitoring. 

Director: Mark Stevenson - Mr. Mark Stevenson is Director of the Company. Mr. Stevenson was the technical marketing director – Asia for Ecobat Technologies Ltd., a global company that produces and recycles lead, from March 2010 to April 2016. He currently serves as Technical Director for Global Lead Technologies and is a non-executive director for Metallic Waste Solutions, trading as Metsol Pty Ltd, a start-up company. He also serves as chairman and organizer of the two Asian battery and international secondary lead conferences held biennially across Asia. Mr. Stevenson has extensive knowledge of the metals and other commodity markets from his experience serving as an executive officer, director and consultant to businesses in the lead industry. As a result of these and other professional experiences, our board of directors has concluded that Mr. Stevenson is qualified to serve as a director.

Independent Director: Vincent L. Divito CPA & Mark Slade - Mr. Vincent L. DiVito is an Independent Director of the company. Since April 2010, Mr. DiVito has served as the owner and chief executive officer of Vincent L. DiVito, Inc., a financial and management consulting firm. From January 2008 to April 2010, Mr. DiVito served as president of Lonza America, Inc., a global life sciences chemical business headquartered in Allendale, New Jersey, and also served as chief financial officer and treasurer of Lonza America, Inc. from September 2000 to April 2010. Lonza America, Inc. is part of Lonza Group, whose stock is traded on the Swiss Stock Exchange. From 1990 to September 2000, Mr. DiVito was employed by Algroup Wheaton, a global pharmaceutical and cosmetics packaging company, first as its director of business development and later as its vice president and chief financial officer. Mr. DiVito is a certified public accountant and certified management accountant and is a National Association of Corporate Directors Board Leadership Fellow. He has served on the board of directors and chairman of the audit committee of Entertainment Gaming Asia Inc., a Nasdaq listed company gaming company, since October 2005 and also served as a member of the board of directors of Riviera Holdings Corporation, formerly an AMEX listed gaming and resort company, from July 2002 until the consummation of a change in control of the corporation in March 2011. Mr. DiVito has extensive knowledge of accounting and corporate governance issues from his experience serving on various corporate boards of directors and has extensive operational knowledge as a result of his experience as a senior executive officer of major corporations. As a result of these and other professional experiences, our board of directors has concluded that Mr. DiVito is qualified to serve as a director.

Mr. Mark Slade is an Independent Director of the Company. Mr. Slade was the chief executive officer and founder of Marex Financial Ltd, one of Europe’s leading independent commodity brokers, from January 2006 to January 2011. Marex was a member of the London Metal Exchange, Intercontinental Exchange, The London International Financial Futures and Options Exchange and Eurex Exchange, with offices in London, Geneva and New York. Since leaving Marex Financial, Mr. Slade has held a number of advisory and executive roles. From December 2011 to December 2012, he was an advisor on international business development to the Hong Kong Mercantile Exchange. From January 2013 to July 2013, Mr. Slade was chief executive officer of London Capital Group. Since January 2015, Mr. Slade has served as an advisor on strategy and business development to Tower Trading Group Ltd. In addition to his corporate roles, Mr. Slade also held a number of board and committee appointments within the commodity futures industry, including being a board member of the London Metal Exchange (1999 – 2006) and the Futures and Options Association (2005-2008). Mr. Slade has extensive knowledge of the metals and other commodity markets from his experience serving as a senior executive officer and consultant to commodity trading and brokerage firms. As a result of these and other professional experiences, our board of directors has concluded that Mr. Slade is qualified to serve as a director.
 

Outstanding Shares:  19,210,335 (As of February 10, 2017)
Interstate Battery purchased 5% ~ 702,000 shares (Common Stock warrant to purchase 702,247 shares expiring on May 18, 2018 & 1,605,000 shares expiring May 18, 2019 @ $8.43)
Johnson Controls purchased ~ 5% ~ 939,005 shares (warrant to purchase 392,605 shares)

Note:  CEO Stephen R. Clarke holding 1,028,637 shares (As of November 17, 2016)
Mould Selwyn & Michael Thomas Murphy each holds 765,455 shares (As of March, 09, 2017)

Total Institutional Ownership = 24% ~ 4,653,564 shares (As of March 12, 2017)
AWM Investment Company, Inc (Largest Holder:  Holdings 1,457,524 (As of December 31, 2016)
Doheny Asset Management /CA (Second Largest Holder: Holdings 625,700 (As of December 31, 2016)
Vanguard Group, Inc (Third Largest Holder:  Holdings 438,775 (As of December 31, 2016)

Approximately 16.45% ~ 2,255,700 shares are shorted for the stock (As of March 12, 2017)

First Aqua Refinery Opening October 29, 2016
https://youtu.be/LvVfkMLbwK4

Strategic Partnerships:
Interstate Batteries Acquire ~5% of Aqua Metals
https://globenewswire.com/news-release/2016/05/19/841621/0/en/Interstate-Batteries-and-Aqua-Metals-Form-Strategic-Partnership.html
Johnson Controls Acquire ~5% of Aqua Metals
http://www.nevadaappeal.com/news/business/pioneering-battery-recycler-aqua-metals-to-partner-with-johnson-controls/

Company Contacts:  
1010 Atlatic Ave
Alameda, CA 94501-1147
+1-510-479-7635

Investors Relation: 
http://investors.aquametals.com/phoenix.zhtml?c=254050&p=irol-irhome