ReElement Technologies, a subsidiary of American Resources Corporation, will expand into a fully industrial operation for the recovery of rare earths and batteries.
American Resources Corporation (NASDAQ:AREC)
FISHERS, Indiana, USA, September 16, 2022 /EINPresswire.com/ — American Resources Corporation (NASDAQ:AREC) (“American Resources” or the “Company”), a socially responsible supplier of a new generation of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification market, today announced that its majority-owned subsidiary, ReElement Technologies LLC, has embarked on the design, planning and development of its second lithium-ion battery and rare earth magnet metal processing and extraction facility using its patented chromatography technology to produce critical battery material with a purity of 99 .9%+ and 99.5%+ rare earth elements.
Mark Jensen, Chief Executive Officer of American Resources Corporation, commented: “The opportunity to continue growing our ReElement division is real and present given the demand for domestically produced battery and magnet materials. With the recent passage of the Inflation Reduction Act and the rapid adoption of electric vehicles, the demand for such products is growing rapidly, and the versatility of our technology allows us to offer a real solution quickly and cost-effectively. Beyond this facility, we have numerous discussions on potential joint venture opportunities for Individual, Co-located facilities in both the United States and Europe. Given the minimal environmental and land impact required by our process, we can effectively expand our operations as end-of-life material supplies increase versus over-construction and inefficient operations in early years, but expand rapidly in later years as the market and raw materials expand. y, given our corporate structure, we have the ability to fund this project from non-dilutive sources at the ReElement level.”
The company has narrowed down the site selection for this 200,000-square-foot facility to one of two controlled sites. The first of these is Noblesville, Indiana, which occupies about 40 acres of land in an industrial estate located less than 5 miles from its first commercial wastewater treatment plant. The second site under consideration is a controlled property in West Virginia adjacent to the Company’s existing mid-carbon premium processing and electrolysis technology site, which will be deployed as part of the Company’s previously announced tax-exempt bond issue.
The facility will be initially built and expanded as the market for end-of-life magnets and battery raw materials expands by adding additional magnet and battery cleaning capacity through a modular design. By 2025, the annual capacity is predicted to exceed 95,000 tons of battery black mass or battery waste (35,000 tons of high purity insulated battery cells) and 6,000 tons of rare earth magnets (2,000 tons of high purity isolated rare earth cells).
ReElement Technologies supplies end-of-life magnets and batteries, which are then processed into a water-based solution that is separated and refined into materials suitable for magnets and batteries so that they can be reused in the manufacture of new batteries, magnets, or other technologies. The company’s chromatography technology replaces the need for hydrometallurgical/solvent extraction in the separation and purification step of the metal recovery/refining process. In addition, its proprietary process and technology is unique in that it can purify target materials to over 99.5% on an isolated or mixed basis and allows the company to have flexibility and versatility in what products and forms we supply to our customers.
ReElement Technology Market Transformation