American Resources Corporation’s ReElement Technologies Expands Its Exclusive Rights for Rare Earth Element Purification Technology to Include All Feedstocks - Seite 2

Ben Wrightsman, President of ReElement added, "Even secondary uses and refining of rare earth elements depend on China. Rare earths are utilized globally, and yet nearly all roads lead from, through and back to China. It is imperative that we ensure a global ecosystem and establish independent versus limited-source, single-dependent, refining supply chains, and this partnership and technology deployment with Purdue will ensure the U.S. can gain a necessary independence for rare earths and critical minerals."

Dr. Nien-Hwa "Linda" Wang, The Norman and Jane Li Professor at Purdue University's Davidson School of Chemical Engineering commented, "My students and I are thrilled that ReElement Technologies is bringing this method to separate and purify rare earth and battery elements to the market. Its impact will be felt not only by industry but by people who care about the environment. There have been a lot of people who have worked with me, from the College of Engineering to the Purdue Innovates Office of Technology Commercialization, to funders at the state and federal level. Developing this technology has taken many years, but it is ready for the next giant leap of commercialization."

Brooke Beier, Senior Vice President at Purdue Innovates added, "The success story of ReElement commercializing Purdue-discovered technology is another example of how Purdue Innovates supports university researchers, industry and efforts to strengthen our national security. Our team worked with the lead inventor, Linda Wang, to vet and protect her intellectual property and worked with ReElement leadership to bring it to market and impact the state of Indiana's economic development with new jobs."

Dan Hasler, Founder and President of Hasler Ventures LLC stated, "Our economy and national security are totally dependent on separated and purified rare earth metals nearly solely produced in China. We've got to get serious about creating a domestic supply chain that ends with final high purity product, and this technology looks to be the enabler."

ReElement is currently evaluating or in conversations with providers of rare earth ores from four different continents with the goal of either partnering with such parties or acquiring their rare earth concentrates to be refined domestically. Rare earth elements (REEs) include the 15 elements in the lanthanide series plus scandium (Sc) and yttrium (Y). They are essential ingredients for high-end commercial and national defense applications in magnets, metal alloys, catalysts, ceramics, and phosphors, which are important for high-technology and clean energy applications. The REE market was valued at $5.37 billion in 2022 and is expected to reach $14.24 billion by the end of the 2030.