UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

(Rule 14a-101)

INFORMATION REQUIRED IN PROXY STATEMENT

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of The Securities Exchange Act of 1934

(Amendment No. )

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AQUA METALS, INC.

(Name of Registrant as Specified in Its Charter)

PHILOTIMO FUND, LP

KANEN WEALTH MANAGEMENT, LLC

DAVID L. KANEN

ANTHONY AMBROSE

ALAN B. HOWE

SUSHIL (“SAM”) KAPOOR

PADNOS

JEFFREY S. PADNOS

S. SHARIQ YOSUFZAI

(Name of Persons(s) Filing Proxy Statement, if Other Than the Registrant)

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Kanen Wealth Management, LLC, together with the other participants named herein (collectively, “Kanen”), has filed a definitive proxy statement and accompanying WHITE proxy card with the Securities and Exchange Commission to be used to solicit proxies for the election of its slate of director nominees at the 2018 annual meeting of stockholders (the “Annual Meeting”) of Aqua Metals, Inc., a Delaware corporation (the “Company”).

On May 2, 2018, in connection with the entry into a settlement agreement with the Company, Kanen withdrew its slate of nominees for election to the Board of Directors of the Company at the Annual Meeting. Kanen will not vote any proxies received from stockholders of the Company at the Annual Meeting.