August 1, 2019: Second quarter results for 2019 released by lead battery recycling firm Aqua Metals on July 31 have shown over a fourfold leap in lead production, said the company.
It said an agreement with Clarios, signed in June, aimed to finalize a development program agreement with the battery giant. Clarios, in its former guise as Johnson Controls Power Solutions, gave Aqua Metals official vendor approval in November 2018.
The company also posted a net operating loss of $10.5 million for the same quarter of 2019, compared with $9.9 million for the second quarter of 2018.
Costs included the appointments of 25 production staff as the company prepares for ramping up its operations, it said.
“I am very pleased with our operational progress as we continue to ramp production and reduce cash outflows, including our achievement of record production for the quarter,” said president and CEO Steve Cotton.
Aqua Metals says it has achieved consistent 24/7 plant operations of up to four modules and in its outlook for 2019 said its Phase Two capital program should be completed in the fourth quarter.