Parties will collaborate to recycle rare-earth permanent magnets from decommissioned wind turbines through the Close the Loop Program

American Resources (NASDAQ:AREC)

FISHERS, INDIANA, UNITED STATES, March 12, 2024 /EINPresswire.com/ -- 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, announced today a partnership with EDP Renewables North America (“EDPR NA”), a North American leader in the renewable energy sector, to advance sustainable practices in the wind energy sector through the EDPR NA’s newly launched Close the Loop Program. The focus of this collaboration is efficient and sustainable recycling of neodymium-based permanent magnets from decommissioned wind turbines into magnet-grade rare earth elements, contributing to the development of a truly circular supply chain for renewable energy equipment and inputs.

As the world’s fourth-largest wind energy producer and a top five owner and operator of renewables in North America, the partnership leverages EDPR NA's expertise in wind energy and ReElement's advanced critical mineral refining technology for rare earth and critical battery element. Neodymium-based permanent magnets, commonly used in clean energy applications such as wind turbines and electric vehicle motors to enhance efficiency, are critical components of the renewable energy landscape. By recycling these magnets, EDPR NA and ReElement aim to reduce the environmental impact associated with the production and disposal of wind turbine components as well the primary extraction and common processing methods utilized today in the production of critical and rare earth mineral inputs.

Chris Moorman, Chief Commercial Officer of ReElement Technologies, emphasized the significance of this collaboration in establishing a circular supply chain for renewable energy stating, "We are thrilled to partner with EDPR to address the environmental challenges associated with neodymium-based permanent magnets. ReElement’s critical mineral refining process is a game-changer, providing a sustainable solution for recovering and refining a broad range of critical minerals. Our flexibility to refine multiple feedstocks utilizing a smaller, scalable and significantly more environmentally safe method enables us to provide valuable solutions to the supply chain challenges we face today. Our approach not only facilitates the recycling of wind turbine components but also significantly reduces the environmental footprint. We applaud EDPR NA and are thankful to have this collaborative opportunity to lead the world in delivering real solutions. The next generation of the electrified economy relies on responsible practices, and through this partnership, we are collectively setting a new standard for sustainability in the renewable energy sector."

EDPR NA and ReElement anticipate that this collaboration will set a precedent for responsible and sustainable practices in the renewable energy sector and beyond, fostering a circular economy that extends the life cycle of the critical and rare earth elements required today to fuel our technology. ReElement's proprietary process for critical mineral recovery and refining stands out for its high performance, efficiency and environmental responsibility. Unlike traditional mining and processing methods, mostly utilized in China, ReElement’s process of recycling permanent magnets is approximately 3-times more environmentally safe, aligning with the commitment to sustainable practices in the renewable energy industry. As the Company executes and scales the production at its facilities, it will significantly reduce the United States' and its economic partner's dependency on foreign nations for the supply of these critical raw materials while also creating a true circular life-cycle solution.

David Sauve
ReElement Technologies LLC
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