American Resources Corporation’s and Royalty Management Holding Corporation’s Investment In Advanced Magnetic Labs, Inc Results in Commercial Manufacturing of Permanent Magnets
- Joint investment by American Resources Corporation and Royalty Management Holding Co. demonstrates confidence in AML's potential for commercial manufacturing expansion.
- AML's PM-Wire™ technology is scalable and modular, allowing for high-rate production of non-sintered and sintered permanent magnets, catering to various applications, including electric motors and automotive industries.
- Strategic partnerships with customers and material providers will support organic manufacturing scaling in 2024, with a projected output of approximately 200 metric tons per year of permanent magnets.
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Insights
The expansion of Advanced Magnetic Labs' (AML) manufacturing capabilities, supported by American Resources Corporation and Royalty Management Holding Co., signifies a strategic move within the rare earth and critical elements industry. The focus on developing a domestic supply chain for lithium-ion batteries and rare earth-based permanent magnets is a response to the increasing demand for materials essential to the electrified industry, including electric vehicles (EVs) and defense applications.
AML's proprietary PM-Wire™ technology, which enables the production of non-sintered and sintered permanent magnets, is particularly noteworthy. This technology could potentially disrupt the market by offering a more efficient production process, leading to cost savings and performance enhancements in magnet manufacturing. The collaboration with Oak Ridge National Laboratory (ORNL) to develop an electric vehicle motor using PM-Wire™ technology underscores the innovative potential of AML's approach.
From an investment standpoint, the involvement of American Resources and Royalty Management in AML's Series A funding round is indicative of their confidence in AML's technology and market potential. The planned expansion and the ability to produce 200 metric tons per year of permanent magnets at AML's Florida locations could have a significant impact on the supply chain, reducing reliance on foreign imports and enhancing the competitiveness of domestic manufacturers.
Overall, AML's advancements and expansion plans are likely to be closely watched by industry stakeholders, given their potential to influence market dynamics and contribute to the growth of the domestic manufacturing sector.
The investment by American Resources Corporation and Royalty Management Holding Co. into AML's Series A funding round is a strategic initiative that has the potential to enhance shareholder value. The synergy between American Resources' subsidiary ReElement Technologies, which provides rare earth oxides and AML's manufacturing technology, creates a vertically integrated supply chain that could offer competitive advantages in cost and quality control.
AML's manufacturing expansion and the scalability of its PM-Wire™ technology are poised to meet the growing demand for rare earth magnets, which are critical for a variety of applications including EVs, renewable energy and defense. The company's plan to co-locate manufacturing with customers or supply chain partners could lead to operational efficiencies and stronger business relationships.
The long-term implications for stakeholders include a more robust and secure supply chain, potential market share gains in the permanent magnet sector and the creation of domestic manufacturing jobs. However, the capital-intensive nature of scaling up production and the risks associated with technology adoption in commercial applications should be monitored by investors.
The development of AML's PM-Wire™ technology represents a significant advancement in materials science, particularly in the field of rare earth magnet production. The ability to produce both non-sintered and sintered permanent magnets with high-rate and high-yield could lead to the development of new material compositions and applications that were previously not feasible or too costly.
The collaboration with ORNL to develop an electric vehicle motor that utilizes fewer, more efficient magnets is an example of how AML's technology can lead to innovative solutions in the materials science domain. By potentially eliminating the need for active cooling systems in EV motors, AML's technology could reduce manufacturing complexity and improve the overall efficiency of electric vehicles.
As AML explores new material compositions and expands its development programs, the impact on the broader materials industry could be substantial, fostering further innovation and potentially leading to new patents and intellectual property in the field of magnet technology.
Advanced Magnetic Labs is evaluating multiple sites for commercial-scale manufacturing expansion within the United States following a successful year of technology advancement
American Resources and Royalty Management have jointly participated in funding rounds in AML along with ReElement Technologies providing rare earth oxides
FISHERS, IN / ACCESSWIRE / December 19, 2023 / American Resources Corporation (NASDAQ:AREC) ("American Resources"), a next generation and socially responsible supplier of rare earth and critical elements, and Royalty Management Holding Co. (NASDAQ:RMCO) (the "Royalty Management"), a royalty company building shareholder value to benefit both its shareholders and communities by acquiring and developing high-value assets in a sustainable market environment, have announced that their partner and investments in Advanced Magnetic Labs, Inc. has announced a successful year of advancing its technology, capabilities, and strategic relationships for positioning into commercial manufacturing of permanent magnet products.
Both American Resources Corporation and Royalty Management Corporation have participated in the Series A Round of capital raising by Advanced Magnet Lab, Inc. ("AML") a recognized leader in the development of innovative magnet technologies. Furthermore, American Resources Corporation's wholly owned subsidiary, ReElement Technologies Corporation ("ReElement"), is a commercial partner to AML through the sale of high purity rare earth oxides produced domestically by ReElement from the recycling of end-of-life permanent magnets to feed the oxides into the domestic market manufacturing marketplace.
Thomas Sauve, President of American Resources and CEO of Royalty Management commented, "Developing a domestic supply chain for lithium-ion batteries and rare earth-based permanent magnets requires innovation, partnerships and collaboration if the country is going to move quickly. The partnership we jointly established with AML is a critically important collaboration to swiftly advanced the electrified industry forward. AML, who has worked collaboratively with the Defense Logistics Agency ("DLA"), is shifting the paradigm of the permanent magnet industry, and through our partnership with them, can now say we complete domestic supply chain solutions for high-quality, high-performance and low-cost rare earth permanent magnets. We are excited to be an investor and industry partner through both American Resources and Royalty Management to help AML expand its business faster, better, stronger as they scale their commercial production."
AML's manufacturing capabilities are built on the backbone of its technology, PM-Wire™, which is a scalable and modular, manufacturing process, that has ability to produce non-sintered and sintered permanent magnets at a high-rate and high-yield. The process is adaptable to a variety of applications, including those that benefit from magnets in unique configurations and material compositions, such as electric motors.
The Company's first step into high-rate commercial manufacturing will be non-sintered permanent magnets for select commercial and defense customers. AML has several development programs underway for enabling electric motor applications, including a collaboration with Oak Ridge National Laboratory (ORNL) for an electric vehicle motor. AML plans to co-locate manufacturing with customers or supply chain partners, with preliminary discussions underway with several United States jurisdictions for site locations.
The collaboration with ORNL is a gleaming example of the value of PM-Wire™. The technology will replace 2,750 complex Halbach array sintered magnets with eight non-sintered helical magnets and eliminate the need to actively cool the motor rotor with equal motor performance. AML envisions this demonstration as a potential springboard into commercial automotive applications, while also working with other end-use applications in industrial generators, aerospace, and defense.
Going forward, the Company will continue to expand its development programs and explore new material compositions for sintered and non-sintered magnets at its two locations, on the Space Coast, in Brevard County, Florida. These locations, which encompass approximately 10,000 square feet, will continue to support customers with prototyping and research and development for alloys and magnets. Furthermore, AML and ReElement Technologies are in discussion of co-location opportunities for full scale production.
AML foresees scaling manufacturing organically in 2024 through strategic partnerships with both customers and material providers. At its current locations in Florida, AML can support an output of approximately 200 metric tons per year of permanent magnets.
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Learn more about ReElement Technologies' process and technology here - Video.
About Advanced Magnet Lab, Inc. (AML)
Founded in 1995, AML is a recognized leader in the development of innovative magnet technologies and magnet-based applications. Today, AML is executing on multiple product development programs including magnet materials and PM-Wire™ based motors and generators for industrial, aerospace and defense. This includes projects funded by large industry, U.S. Department of Energy and U.S. Department of Defense.
About ReElement Technologies Corporation
ReElement Technologies Corporation, a majority 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.
About Royalty Management Holding Corporation
Royalty Management Corporation (NASDAQ:RMCO) is a royalty company building shareholder value to benefit both its shareholders and communities by acquiring and developing high value assets in a sustainable market environment. The model is to acquire and structure cashflow streams around assets that can support the communities by monetizing the current existing cash flow streams while identifying transitionary cash flow from the assets for the future. For more information visit royaltymgmtcorp.com.
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
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FAQ
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