Green lead-acid battery recycling start-up Aqua Metals has been granted tax incentives worth around $3.6 million by the State of Nevada.
Aqua Metals recently opened its AquaRefinery facility in the Tahoe-Reno Industrial Center in Nevada, where it’s commercialising a non-polluting electrochemical technology called AquaRefining™.
The tax breaks were granted because of the company ‘facilitating economic development’ and bringing more than 50 jobs to the state by 2017.
The Governor’s Board of Economic Development granted Aqua Metals the Real Property Tax Abatement for Recycling, the Sales and Use Tax Abatement, the Modified Business Tax Abatement and the Personal Property Tax Abatement.
“These incentives will substantially support our bottom line as we begin to ramp recycling production and generate revenue,” said Thomas Murphy, CFO of Aqua Metals.
“Part of our mission is to run a business that is both economically and environmentally sustainable, and Nevada’s pro-business policies are a big part of making that a reality.”
AquaRefining uses a fundamentally non-polluting, room temperature, closed-loop, water-based process to recycle lead-acid batteries.
The Company has deep strategic relationships with key industry partners, including Interstate Batteries, Battery Sysytems International and Wirtz Manufacturing.