American Resources Corporation's ReElement Technologies Completes Preliminary Investment in Advanced Magnet Lab, Inc. and Signs Offtake to Provide Rare Earth Elements – Yahoo Finance
Advanced Magnet Lab, Inc. (AML) has developed a novel and innovative approach to manufacturing magnets that enables both rare earth and non-rare earth materials
FISHERS, IN / ACCESSWIRE / December 22, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced that it has executed its second rare earth oxide offtake agreement with Advanced Magnet Lab, Inc. ("AML") to provide AML high-purity raw rare earth elemental feedstock for their advanced, domestic magnet production. Concurrently with the offtake agreement, the Company has completed an initial strategic investment into AML to further advance the technology and commercialization. American Resources has led the round of investment into AML alongside a select number of strategic investors and insiders, and the investment is in the form of a promissory note that has the ability to convert into shares of common stock of AML at a fixed valuation.
AML has developed PM-Wire™, a unique technology for the design, manufacture and optimized performance of permanent magnets and their end-use applications. Magnets are at the heart of the products and applications essential to modern society. It is the magnets which enable electricity, manufacturing, processing of goods, movement of water, tools for construction and transportation. AML's technology provides significant value propositions for electrical machines, motors, and generators – all driven by magnets.
As the world evolves away from purely fossil fuel-powered transportation, the market for electric motors will continue to grow from US$26.2 Billion in the year 2020, to a projected US$39.1 Billion by 2026.
Mark Jensen, CEO of American Resources Corporation commented, "Having the pleasure of getting to know the management team at AML over the past year has only helped fortify our relationship and our confidence that AML possesses several unique and innovative methods of producing better, more efficient magnets using both rare earth elements and other materials. We are very excited to not only have AML be our second offtake partnership for our high purity (greater than 99.5%) rare earth oxides that we produce using our patented chromatography technology, but to also be able to be an investor in their innovative company. With this partnership, similar to our partnership with USA Rare Earth Magnets, we are collectively creating a domestic and sustainable permanent magnet production supply chain. The approach that AML has with its "PM-Wire™" magnet production had our attention from day one, along with the rest of the magnet industry, and having had the opportunity to spend time with the team has further exemplified our excitement for the opportunity to partner with them."
Combined with the offtake agreement between AML and ReElement Technologies, American Resources Corporation, the parent company of ReElement Technologies, concurrently has completed an initial investment into AML though a convertible debt structure that converts into equity of AML. This investment allows American Resources and AML to each participate in the anticipated growth of their respective businesses and technologies.
"AML's technology, PM-Wire™, enables for high volume and yield at a lower cost, with better flexibility in shapes and magnetization direction as compared to conventionally manufactured magnets," added Mark Senti, CEO of AML.
China dominates the conventional REE and magnet industry producing greater than 80% of the world's magnets due to vertical integration of cheap labor, raw materials and unsafe environmental standards from processing which has resulted in a "high-barrier to market-entry" for competitors Worldwide.
"Our goal and plan, combined with this novel technology, has been to create and foster an environment for vertical integration through partnerships here in the United States," added Wade Senti, COO of AML.
AML has recently completed and commissioned its state of the art, high-rate commercial production line, which is at the heart of the PM-Wire™ technology. This manufacturing line was funded with the support of National Security Innovation Capital (NSIC), which is part of the Defense Innovation Unit (DIU) of the U.S. Department of Defense.
AML and American Resources seek to disrupt this stronghold through the commencement of this relationship to develop and launch additional ventures for supporting the reshoring of a domestic supply chain for rare earths here in the United States.
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 executing on multiple product development programs including magnet materials and PM-Wire™ based motors and generators for industrial, aerospace and defense, including both rare earth and non-rare earth materials. This includes projects funded by large industry, U.S. Department of Energy and U.S. Department of Defense. For more information visit mitusmagnets.com or connect with AML on Facebook 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 ReElement Technologies LLC
ReELEMENT Technologies LLC 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 Technologies 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.
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.
PR Contact:
Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
arec@jtcir.com
RedChip Companies Inc.
Todd McKnight
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 source version on accesswire.com:
https://www.accesswire.com/732990/American-Resources-Corporations-ReElement-Technologies-Completes-Preliminary-Investment-in-Advanced-Magnet-Lab-Inc-and-Signs-Offtake-to-Provide-Rare-Earth-Elements
Related Quotes
(Bloomberg) — European Central Bank Vice President Luis de Guindos said interest-rate hikes like the half-point move seen at this month’s meeting may become the standard as officials maintain their fight with soaring inflation.Most Read from BloombergChina Is Likely Seeing 1 Million Covid Cases, 5,000 Deaths a DayDonald Trump’s Taxes Reveal Big Losses: What We Learned So Far, in ChartsI’ve Seen Trump’s Tax Returns and Now You Can, TooUS Stocks Snap Two Days of Gains; Dollar Rises: Markets WrapB
Due to economic and geopolitical headwinds, financial markets have been exceptionally volatile in 2022. Goldman Sachs (NYSE: GS) recently noted that this year would likely be the sixth-most-volatile year dating back to the Great Depression. Shares of the hospital real estate investment trust (REIT) Medical Properties Trust (NYSE: MPW) have plunged 53% so far this year.
Michael Wilson, Morgan Stanley chief equity strategist, has been among the most prominent of the bearish prognosticators this past year, and while he still sees rough times ahead, he also offers some hope for the long term. At base, Wilson says the S&P 500 is likely to sink another 20% before hitting a bottom near 3,100 during 1Q23. The index slipped into a bear market in June of this year, when the Federal Reserve began its aggressive anti-inflationary interest rate hikes, and has been on a vol
This holiday season hasn’t exactly been filled with cheer for investors: Companies have been battling inflation and market volatility—and a recession seems to be looming ahead. Here’s what you need to know about trading hours ahead of Christmas. Is the Stock Market Closed Today?
Nutanix, Inc. ( NASDAQ:NTNX ), is not the largest company out there, but it led the NASDAQGS gainers with a relatively…
Investors spent most of Thursday thinking easy come, easy go as major market benchmarks moved lower after sizable gains on Wednesday. Although the Dow Jones Industrial Average (DJINDICES: ^DJI), Nasdaq Composite (NASDAQINDEX: ^IXIC), and S&P 500 (SNPINDEX: ^GSPC) all finished well above their worst levels of the day, the volatility showed that levels of uncertainty about what 2023 will bring are extremely high. Both Cleveland-Cliffs (NYSE: CLF) and MillerKnoll (NASDAQ: MLKN) made their shareholders happy with some positive news about their respective businesses.
Berkshire Hathaway should generate more than $6 billion in dividend income over the next 12 months. Nearly half of it will come from three stocks.
(Bloomberg) — Scott Minerd, the Guggenheim Partners chief investment officer who was regarded as one of the kings of the bond market during its four-decade bull run, has died. He was 63.Most Read from BloombergChina Is Likely Seeing 1 Million Covid Cases, 5,000 Deaths a DayDonald Trump’s Taxes Reveal Big Losses: What We Learned So Far, in ChartsBankman-Fried Released on $250 Million Bond in FTX CaseChina to Cut Quarantine for Overseas Travelers From Next MonthChina Estimates Covid Surge Is Infe
Looking to build up your high-yield dividend portfolio? Whether you want income now or wealth later, Enterprise Products Partners (NYSE: EPD) and Brookfield Renewable (NYSE: BEP)(NYSE: BEPC) should be on your shopping list.
There are some extremely high-potential companies on the market that could generate 5x returns over the next decade. What I wanted to do is ask whether a high-risk, high-reward company like Virgin Galactic (NYSE: SPCE) is more likely to 5x before Axon (NASDAQ: AXON), a stock that is up 542% in the last five years. First, I want to outline what these companies do and why their risk profiles are very different.
The tobacco giant is abandoning warrants it held in the marijuana company and may dump some of its stock.
Warren Buffett has famously advised investors be fearful when others are greedy, and greedy when others are fearful. Indeed, as always, you must be greedy only with quality companies. Let's take a look at three growth stocks that you can consider buying in 2023.
Rivian's (NASDAQ: RIVN) most recent conference call with analysts could provide clues about what's happening inside the company. *Stock prices used were the afternoon prices of Dec. 20, 2022. The video was published on Dec.
With a price-to-earnings (or "P/E") ratio of 20.2x Blackstone Inc. ( NYSE:BX ) may be sending bearish signals at the…
U.S. stock futures trudged forward Friday morning after a vicious session of selling as investors awaited a bout of economic reports and looked ahead to the long holiday weekend.
Former President Donald Trump loses vast amounts of money. Yet he lives a gilded lifestyle and never runs short of the cash needed to pay lawyers perpetually defending him against charges large and small. How does he do it? We're gradually finding out.
(Bloomberg) — Tesla Inc. is offering US consumers $7,500 to take delivery of its two highest-volume models before year-end, adding to indications the carmaker is struggling with demand.Most Read from BloombergChina Is Likely Seeing 1 Million Covid Cases, 5,000 Deaths a DayDonald Trump’s Taxes Reveal Big Losses: What We Learned So Far, in ChartsBankman-Fried Released on $250 Million Bond in FTX CaseChina to Cut Quarantine for Overseas Travelers From Next MonthUS Stocks Snap Two Days of Gains; Do
Is Micron Technology to blame for Thursday's brutal red day semiconductor investors experienced?
Yahoo Finance Live’s Brian Sozzi breaks down a Citi analyst’s bullish take on Apple.
Management said its prices for specialized automotive steel would rise next year, and its costs would be lower.