ReElement Technologies has signed agreements to recycle EV motor components from leading domestic auto manufacturer
ReElement will recycle rare earth elements within EV motors back to ultra-pure rare earth oxides for new magnet production
FISHERS, IN / ACCESSWIRE / March 26, 2024 / American Resources Corporation's (NASDAQ:AREC) ("American Resources" or the "Company") wholly owned subsidiary, ReElement Technologies Corporation ("ReElement"), a leading provider of high performance refining capacity of rare earth and critical battery elements, is proud to announce a commercial partnership with a major U.S. auto manufacturer establishing a highly-efficient and world-leading circular economy for rare earth magnets in the United States. This commercial partnership follows an initial trial program whereby ReElement has showcased its low cost and environmentally friendly process to fully recycle and refine the high value rare-earth elements within EV motors back to ultra-pure magnet-grade rare-earth oxides (REO). This partnership is pioneering a sustainable and truly circular life-cycle solution to ensure that the rare earth elements remain within the domestic supply chain to build in America and stay in America for both commercial and defense applications.
Mark Jensen, Chief Executive Officer of ReElement Technologies commented, "We are excited to add this partnership to our rapidly growing roster of feedstock partners to ensure that there is a resilient and long-life supply of rare earth elements in the United States. We have been working collaboratively with this partner for a little over a year and have been testing the products for recyclability. Today, we are proud to say that not only can we ensure that the circular economy for rare earths is online, but that it also can be done profitably, at high-purity, magnet-grade qualities and is scalable to meet the growing demands of energy transition. It's an exciting start to 2024 for ReElement, and we are proud that we are leading in providing real solution to the refining bottleneck in the supply chain while catalyzing sustainability and circularity solutions. The rare earth oxides we produce can feed the demand not only in the commercial market but also for high-value, defense applications to keep our country strong, safe and without the need to rely on foreign parties for such crucial applications."
ReElement Technologies first produced 99.5% pure neodymium oxide (Nd2O3) in June of 2021 from end-of-life magnets. Today, we can recycle, separate, purify and refine all of the magnet metals (including Nd, Pr and Dy) back to 99.5%+ oxide form to commercially supply the domestic magnet supply chain. The company has initially partnered with Advanced Magnetic Labs Inc. ("AML") and USA Rare Earth Magnets LLC and is in conversation with additional domestic magnet producers for the offtake of its rare earth oxides.
ReElement Technologies is committed to leading the domestic supply chain for rare earth and battery elements in the electrified economy. The Company has proven that its patented chromatographic separation and purification is a low cost, scalable, flexible and environmentally safe replacement to the existing environmentally and socially toxic alternatives used around the globe for rare earth and critical element separation and purification. As the Company executes and scales the production at its facilities, it will significantly reduce the United States' dependency on foreign nations for the supply of these critical raw materials while also creating a true circular life-cycle solution.
Learn more about ReElement Technologies' process and technology here - Video.
About ReElement Technologies Corporation
ReElement Technologies Corporation, a wholly owned subsidiary of American Resources Corporation (NASDAQ:AREC), is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable "Capture-Process-Purify" process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.
About American Resources Corporation
American Resources Corporation (NASDAQ:AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
arec@jtcir.com
RedChip Companies Inc.
Robert Foley
1-800-RED-CHIP (733-2447)
Info@redchip.com
Company Contact:
Mark LaVerghetta
Vice President of Corporate Finance and Communications
317-855-9926 ext. 0
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
View the original press release on accesswire.com
