American Resources Corporation’s ReElement Technologies, American Metals and LOHUM come together to set up an Integrated Li-ion Battery Materials Processing Facility with an Investment North of $30M
American Resources 's ReElement Technologies, American Metals, and LOHUM Cleantech have signed an MOU to establish the United States' first fully integrated battery recycling, repurposing, and critical material production facility. The 15.5 GWh facility will be set up with an initial investment of US$30 Million, creating 250 green jobs. The partnership aims to supply over 315,000 electric vehicles annually with critical materials.
The facility will be located at the Marion Advanced Technology Center in Indiana, producing critical materials with purity levels greater than 99.5%. This joint venture will create a domestic ecosystem of recycled, high-purity lithium for North America's lithium-based battery manufacturing supply chain, significantly reducing capital expenditure, physical footprint, and environmental impact.
ReElement Technologies, American Metals e LOHUM Cleantech, tutte parte di American Resources, hanno firmato un MOU per stabilire il primo impianto completamente integrato per il riciclo, il riutilizzo e la produzione di materiali critici per batterie negli Stati Uniti. L'impianto da 15,5 GWh sarà realizzato con un investimento iniziale di 30 milioni di USD, creando 250 posti di lavoro verdi. L'obiettivo della partnership è quello di fornire oltre 315.000 veicoli elettrici all'anno con materiali critici.
L'impianto sarà situato presso il Marion Advanced Technology Center in Indiana, producendo materiali critici con livelli di purezza superiori al 99,5%. Questa joint venture darà vita a un ecosistema domestico di litio riciclato e ad alta purezza per la catena di approvvigionamento della produzione di batterie a base di litio in Nord America, riducendo significativamente le spese in conto capitale, l'impronta fisica e l'impatto ambientale.
ReElement Technologies, American Metals y LOHUM Cleantech, todos parte de American Resources, han firmado un MOU para establecer la primera instalación totalmente integrada de reciclaje de baterías, reutilización y producción de materiales críticos en los Estados Unidos. La instalación de 15.5 GWh se establecerá con una inversión inicial de 30 millones de USD, creando 250 empleos verdes. La asociación tiene como objetivo proveer más de 315,000 vehículos eléctricos anualmente con materiales críticos.
La instalación se ubicará en el Marion Advanced Technology Center en Indiana, produciendo materiales críticos con niveles de pureza superiores al 99.5%. Este emprendimiento conjunto creará un ecosistema doméstico de litio reciclado de alta pureza para la cadena de suministro de fabricación de baterías a base de litio en Norteamérica, reduciendo significativamente los gastos de capital, la huella física y el impacto ambiental.
ReElement Technologies, American Metals 및 LOHUM Cleantech는 American Resources의 일원으로서 미국 최초의 완전 통합 배터리 재활용, 재사용 및 주요 자재 생산 시설 설립을 위한 MOU를 체결했습니다. 15.5 GWh 시설은 3000만 달러의 초기 투자로 설립되어 250개의 친환경 일자리를 창출할 예정입니다. 이 파트너십의 목표는 연간 315,000대 이상의 전기차에 중요한 자재를 공급하는 것입니다.
이 시설은 인디애나주 마리온 선진 기술 센터에 위치하게 되며, 99.5% 이상의 순도 수준으로 중요한 자재를 생산할 것입니다. 이 합작 투자로 북미 배터리 제조 공급망을 위한 고순도 재활용 리튬의 국내 생태계가 조성되며, 자본 지출, 물리적 공간 및 환경적 영향을 크게 줄일 수 있습니다.
ReElement Technologies, American Metals et LOHUM Cleantech, tous membres d'American Resources, ont signé un MOU pour établir le premier site entièrement intégré de recyclage, de réutilisation et de production de matériaux critiques pour batteries aux États-Unis. Ce site de 15,5 GWh sera mis en place avec un investissement initial de 30 millions USD, créant 250 emplois verts. L'objectif du partenariat est de fournir plus de 315 000 véhicules électriques par an avec des matériaux critiques.
Le site sera situé au Marion Advanced Technology Center dans l'Indiana, produisant des matériaux critiques avec des niveaux de pureté supérieurs à 99,5%. Cette coentreprise créera un écosystème domestique de lithium recyclé et de haute pureté pour la chaîne d'approvisionnement en fabrication de batteries à base de lithium en Amérique du Nord, réduisant considérablement les dépenses d'investissement, l'empreinte physique et l'impact environnemental.
ReElement Technologies, American Metals und LOHUM Cleantech, alles Unternehmen von American Resources, haben ein MOU unterzeichnet, um die erste vollständig integrierte Anlage für das Recycling, die Wiederverwendung und die Produktion kritischer Materialien für Batterien in den Vereinigten Staaten zu errichten. Die 15,5 GWh Anlage wird mit einer Erstinvestment von 30 Millionen USD eingerichtet, was 250 grüne Arbeitsplätze schaffen wird. Ziel der Partnerschaft ist es, jährlich über 315.000 Elektrofahrzeuge mit kritischen Materialien zu versorgen.
Die Anlage wird im Marion Advanced Technology Center in Indiana angesiedelt sein und kritische Materialien mit Reinheitsgraden von über 99,5% herstellen. Dieses Joint Venture wird ein heimisches Ökosystem für recyceltes, hochreines Lithium für die Lithium-basierten Batteriefertigungskette Nordamerikas schaffen, was die Investitionskosten, den physischen Fußabdruck und die Umweltauswirkungen erheblich reduzieren wird.
- Initial investment of $30 million for a 15.5 GWh integrated battery recycling facility
- Creation of 250 green jobs
- Potential to supply over 315,000 electric vehicles annually with critical materials
- Production of critical materials with purity levels greater than 99.5%
- Reduction in capital expenditure, physical footprint, and environmental impact for battery material processing
- None.
Insights
This joint venture represents a significant strategic move for American Resources (AREC) and its subsidiaries. The
Key points to consider:
- The facility aims to supply over 315,000 electric vehicles annually, indicating a sizeable market opportunity.
- Creation of 250 green jobs could lead to positive PR and potential government incentives.
- Production of high-purity (
99.5% ) critical materials positions AREC in the high-value end of the battery supply chain. - Collaboration with LOHUM, India's largest sustainable critical minerals producer, provides access to expertise and potentially new markets.
While this venture shows promise, investors should be cautious about execution risks and the capital-intensive nature of the project. The success will largely depend on the EV market growth and the company's ability to secure consistent feedstock for recycling.
This joint venture marks a significant step towards creating a circular economy for lithium-ion batteries in the United States. The integrated facility addresses several critical aspects of the battery lifecycle:
- Battery testing and segregation for second-life applications, extending useful life
- Recycling and mineral refining to recover valuable materials
- Production of engineered materials and battery-grade products, closing the loop
The technology involved, particularly ReElement's modular and adaptable processing methods, could provide a competitive edge. By eliminating significant capital expenditure and reducing environmental impact, this approach aligns with growing ESG concerns in the industry.
The facility's ability to produce high-purity materials (>
FISHERS, IN / ACCESSWIRE / September 26, 2024 / American Resources Corporation (NASDAQ:AREC) shares a milestone move: India's largest producer of sustainable critical minerals LOHUM Cleantech Ltd has signed an MOU with U.S. pioneers in modular, adaptable, and circular magnet-grade & battery-grade mineral processing technology - ReElement Technologies Corporation and American Metals LLC. The MOU marks the companies' initiation of a Joint Venture for establishing United States' first fully integrated battery recycling, repurposing, and critical material production facility. The 15.5 GWh facility will be set up with an initial investment of US
The integrated end-to-end battery & critical minerals lifecycle management facility will host the entire value chain from battery cell testing and segregation for second-life energy storage applications to recycling, mineral refining, engineered materials, and battery-grade products. The facility will produce critical materials with purity levels greater than
The initial operating location will be at the Marion Advanced Technology Center in Indiana, and expand to other locations as determined by the joint venture parties. The joint venture will create a domestic ecosystem of recycled, high-purity lithium for developing North America's lithium-based battery manufacturing supply chain. The facility powered by LOHUM's and ReElement's capabilities will be able to eliminate a significant amount of capital expenditure, physical footprint, environmental impact, and associated operational expenditure needed for the separation and purification of battery materials.
Addressing the development, Rajat Verma, Founder & CEO of LOHUM expressed:- "As LOHUM expands its presence in North America, we welcome this opportunity to partner with ReElement and American Metals, companies that share LOHUM's goals of 'making battery materials last forever. We believe the joint venture will be instrumental in building resilient critical material supply chains in the U.S. that can sustain themselves through circularity. This is an inspiring development in U.S.-India technology collaboration through market entities."
Speaking on the joint venture, Mark Jensen, Chairman of American Metals and ReElement Technologies, stated- "We have been working with LOHUM to figure out how to leverage our unique capabilities and world-leading technologies at ReElement along with the innovative and scaled up approach to critical mineral's recycling and refining that LOHUM has established. We are pleased that ReElement and LOHUM are partnering in a joint venture to leverage both ReElement's and LOHUM's vast experience in fully recycling lithium-ion batteries."
About LOHUM Cleantech Ltd.
LOHUM is India's largest producer and processor of sustainable critical minerals, and the only integrated battery recycling and reuse company in the world. Recognized as ‘The Most Innovative Company of the year 2022' by The Confederation of Indian Industry (CII), LOHUM is committed to making battery materials last forever. An engine of innovation, LOHUM's R&D focus is driving sustainable climate technology. LOHUM's NEETM™ Li-ion batteries material recycling and extraction technology yields top-quality materials and produces zero waste. Its DETX™ battery price index makes it easy to determine accurate prices of battery materials and provides ‘future' buyback prices.
About ReElement Technologies Corporation
ReElement Technologies Corporation 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, X, and LinkedIn.
About American Resources Corporation
American Resources Corporation is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. 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, X, and LinkedIn.
About American Metals LLC:
American Metals LLC, currently a subsidiary of American Resources Corporation, has established a full circular supply chain utilizing its innovative recycling solutions for end-of-life battery and magnet material with an offtake partner bringing products back to battery and magnet grade as well as copper, aluminum and ferrous metals. American Metals LLC has executed a business combination with AI Transportation Acquisition Corp, (Nasdaq: AITR) For more information visit ametalscorporation.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, 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
View the original press release on accesswire.com
FAQ
What is the initial investment for the joint venture between ReElement Technologies, American Metals, and LOHUM (AREC)?
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