American Resources Corporation’s ReElement Technologies Partners with Domestic Auto Manufacturer To Establish Circular Economy for Rare Earth Magnets
ReElement Technologies, a subsidiary of American Resources (NASDAQ:AREC), has partnered with a major U.S. auto manufacturer to establish a circular economy for rare earth magnets. By recycling rare earth elements within EV motors back to ultra-pure magnet-grade rare-earth oxides, ReElement is leading in sustainability and circularity solutions for the domestic supply chain.
The partnership between ReElement Technologies and a U.S. auto manufacturer represents a significant step in the development of a sustainable supply chain for rare earth elements (REEs), which are critical for electric vehicle (EV) motors. The environmental implications of this are substantial, as the recycling process reduces the need for new mining activities, which are often associated with ecological damage and high carbon emissions. By creating a closed-loop system, ReElement is not only mitigating these environmental risks but also enhancing the security of the domestic supply chain for these materials, which is particularly relevant given the strategic importance of REEs in both commercial and defense applications. The scalability and profitability of this recycling process could set a precedent for other companies in the industry, potentially leading to broader adoption of similar sustainable practices.
The announcement by ReElement Technologies underscores a strategic move towards self-reliance in the critical materials sector. The ability to recycle and refine rare earth elements to magnet-grade quality within the U.S. can be expected to have a ripple effect across the supply chains of various industries, particularly the automotive and defense sectors. The domestic production of ultra-pure rare earth oxides reduces dependency on foreign sources, which is often fraught with geopolitical risks and supply chain disruptions. This partnership could potentially stabilize prices for rare earth elements by ensuring a consistent domestic supply, which would be beneficial for companies relying on these materials. Moreover, the scalability of ReElement's technology suggests that the company is positioning itself to meet the increasing demand driven by the energy transition, potentially leading to growth in market share and influence within the sector.
The collaboration between ReElement Technologies and a major U.S. auto manufacturer can be seen as a strategic investment that may yield financial benefits for both parties. By securing a stable source of recycled rare earth elements, the auto manufacturer may reduce its exposure to volatile commodity prices and supply chain uncertainties. For ReElement, this partnership could translate into a stable revenue stream and potential for expansion as demand for EVs—and by extension, rare earth magnets—continues to grow. Investors should note that the success of such ventures depends on the efficiency and cost-effectiveness of the recycling process. If ReElement's patented technology proves to be as low-cost and environmentally safe as claimed, it could provide the company with a significant competitive advantage, potentially impacting its stock valuation positively. However, investors should also monitor the company's ability to scale production and maintain profitability as it ramps up operations.
03/26/2024 - 08:30 AM
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 (Nd2 O3 ) 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, LLCarec@jtcir.com
RedChip Companies Inc.Info@redchip.com
Company Contact:
Mark LaVerghettainvestor@americanresourcescorp.com
SOURCE: American Resources Corporation
press release on accesswire.com
What is the partnership between ReElement Technologies and a major U.S. auto manufacturer about?
ReElement Technologies has partnered with a major U.S. auto manufacturer to establish a circular economy for rare earth magnets by recycling rare earth elements within EV motors back to ultra-pure magnet-grade rare-earth oxides.
What is ReElement Technologies' goal with the partnership?
ReElement Technologies aims to ensure a resilient and long-life supply of rare earth elements in the United States, catering to both commercial and defense applications.
How does ReElement Technologies recycle rare earth elements within EV motors?
ReElement Technologies uses a low cost and environmentally friendly process to fully recycle and refine high value rare-earth elements within EV motors back to ultra-pure magnet-grade rare-earth oxides.
What is the significance of ReElement Technologies' production of 99.5% pure neodymium oxide?
ReElement Technologies' production of 99.5% pure neodymium oxide showcases its ability to recycle, separate, purify, and refine all magnet metals back to 99.5%+ oxide form for commercial supply in the domestic magnet supply chain.
How does ReElement Technologies contribute to reducing the United States' dependency on foreign nations?
ReElement Technologies' patented chromatographic separation and purification process significantly reduces the United States' dependency on foreign nations for critical raw materials by providing a low cost, scalable, and environmentally safe alternative.
