American Resources Corporation's ReElement Technologies Corporation Has Been Approved and Accepted as Member in Defense Industrial Base Consortium
American Resources 's subsidiary, ReElement Technologies, has been accepted as a member of the Defense Industrial Base Consortium (DIBC). The DIBC aims to enhance national security by diversifying and expanding the defense industrial base. ReElement specializes in refining critical minerals like rare earth elements and battery elements, using a patented chromatography process. This membership will help ReElement showcase its ability to onshore refined defense minerals production, which is important for battery, magnet, and military-grade products. CEO Mark Jensen expressed confidence in their technology and plans to scale their operations aggressively.
- ReElement Technologies accepted as a member of the Defense Industrial Base Consortium.
- Membership aims to enhance national security by diversifying and expanding the defense industrial base.
- ReElement specializes in refining critical minerals like rare earth elements and battery elements.
- ReElement's patented chromatography process uniquely achieves refined minerals production.
- Membership will help ReElement showcase its ability to onshore the production of refined defense minerals.
- Technology has been commercially proven at ReElement's Commercial Qualification Plant.
- Plans to aggressively scale business lines and service partnerships globally.
- No immediate financial gains or contracts announced.
- Potential high costs and time associated with scaling operations.
- Risk of over-reliance on government contracts and regulatory dependencies.
The Defense Industrial Base Consortium aims to diversify and expand a robust and resilient defense industrial base to meet national security needs
FISHERS, IN / ACCESSWIRE / May 17, 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, announces that it has been accepted as a member of the Defense Industrial Base Consortium ("DIBC"), a members-only industry collective of companies with innovative and dynamic technologies that can serve as a conduit to the United States Federal Government for the enhancement of commercialization of technologies that, for this specific consortium, will address defense supply chain issues, develop the industrial workforce, sustain the ability to critical mineral and metals production, commercialize research and development efforts, and assist in rapidly scaling of emerging technologies to build a robust, resilient defense industrial base. With this membership in the consortium, ReElement Technologies will join a few key companies and technologies and will showcase to the federal government the ability to onshore the production of refined defense minerals, such as rare earth elements, critical minerals, and other esoteric metals that ReElement Technologies' patented chromatography process uniquely achieves.
Mark Jensen, Chief Executive Officer of ReElement Technologies commented, "We are thankful to be accepted as a member of the Defense Industrial Base Consortium. We are confident that our technology and solutions can unlock the urgent need for critical and rare earth minerals products that are battery, magnet and military grade thereby bringing the supply chain back to the US as well as our allied nations. Our technology has been commercially proven at our Commercial Qualification Plant, and we are now focused on aggressively scaling our business lines at our facilities as well as our Powered by ReElement service partnerships globally. We look forward to working with fellow member companies as well as other national security supply chain groups to move in a calculated and expedited manner."
About the Defense Industrial Base Consortium
The Manufacturing, Capability Expansion, and Investment Prioritization Directorate (MCEIP) established an Other Transaction Agreement (OTA) to enable rapid research, access to commercial solutions for defense requirements, and innovations from industry, academia, and non-traditional contractors. DIBC members focus on identifying, developing, and testing cutting-edge capabilities at the speed of innovation. Led by the efforts of the Consortium Manager, this OT Agreement will accelerate Department of Defense (DoD) access to technologies typically reserved for commercial development. The consortium managed OT Agreement will enhance MCEIP's mission of addressing a resilient defense industrial base.
The following sectors are considered to be critical to the defense industrial base:
- Strategic and Critical Materials
- Kinetic capabilities
- Energy storage and batteries
- Castings and forgings
- Microelectronics
- Workforce Development
ReElement utilizes its patented technology for the separation and purification phase of rare earth and critical battery and defense material processing and refining that maximizes the surface area interface by using columns and resins, rather than toxic acids and solvents typically used in hydrometallurgical processes. Utilizing its technology, it is able to eliminate a significant amount of CapEx, physical footprint, environmental impact, chemicals and associated OpEx to create the separation and purification of rare earth and critical minerals. The technology was designed over the years from commercially operating processes in the separation and purification of fructose and glucose in the sugar industry to commercial production of insulin in the pharmaceutical industry.
ReElement Technologies is committed to leading the domestic supply chain for refined rare earth and critical battery elements in the electrified economy and national security needs. The Company has proven that its patented chromatographic separation and purification technology is a low cost, scalable, flexible and environmentally safe replacement to the legacy environmentally and socially toxic alternatives used for critical and rare earth 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.
Learn more about ReElement Technologies' process and technology here - Video.
Learn more about the Defense Industrial Base Consortium Here.
About ReElement Technologies Corporation
ReElement Technologies Corporation, a wholly 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.
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 American Resources 's subsidiary ReElement Technologies known for?
What consortium has ReElement Technologies been accepted into?
What is the goal of the Defense Industrial Base Consortium (DIBC)?
How will ReElement Technologies benefit from the DIBC membership?
What are the plans of ReElement Technologies following their acceptance into the DIBC?
What is the significance of ReElement's technology in the defense sector?
