ReElement Technologies Partners with Domestic Auto Manufacturer To Establish Circular Economy for Rare Earth Magnets

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ReElement Technologies has signed agreements to recycle EV motor components from leading domestic auto manufacturer

American Resources Corporation (NASDAQ:AREC)

We have been working collaboratively with this partner for a little over a year and have been testing the products for recyclability. ”
— Mark Jensen
FISHERS, INDIANA, UNITED STATES, 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.

David Sauve
ReElement Technologies LLC
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