Aqua Metals Secures Tax Abatement of $2.2M for Sierra ARC Battery Recycling Campus, Expected to Boost Nevada's Clean Energy Economy by $392M
Portfolio Pulse from Benzinga Newsdesk
Aqua Metals, Inc. (NASDAQ:AQMS) has received a $2.2 million economic incentive package from the Nevada Governor's Office of Economic Development to support its expansion in Nevada. The tax abatement will provide partial tax relief over ten years for equipment and building improvements at the Sierra AquaRefining™ Campus, which is expected to contribute $392 million to Nevada's clean energy economy.
January 30, 2024 | 1:14 pm
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Aqua Metals, Inc. has been granted a significant tax abatement which will aid in the expansion of its Sierra AquaRefining™ Campus in Nevada, potentially enhancing the company's financial position and growth prospects.
The tax abatement is a direct financial benefit to Aqua Metals, reducing operational costs and improving the company's ability to invest in its expansion. This is likely to be viewed positively by investors, as it not only supports growth but also aligns with increasing interest in sustainable and clean energy initiatives. The expected contribution to Nevada's economy suggests a significant scale of operations, which could lead to increased revenues for Aqua Metals in the long term.
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