ReElement Technologies joins Consortium for Rare Earth Technologies

FISHERS, IN - ReElement Technologies Corporation, a portfolio company of American Resources Corporation (NASDAQ:AREC), has been accepted as a member of the Consortium for Rare Earth Technologies (CREate) through a partnership with Advanced Technology International, according to a press release statement. The announcement comes as AREC’s stock shows remarkable momentum, with a 335% return over the past six months and a current market capitalization of $229 million. InvestingPro analysis indicates the stock trades at a premium to its Fair Value.

The membership follows ReElement’s recently announced $2 million award under the Department of Defense’s Industrial Base Analysis and Sustainment Program and its prior membership in the Defense Industrial Base Consortium. According to InvestingPro data, while AREC operates with significant debt obligations, analysts maintain a strong buy consensus with price targets ranging from $4 to $6 per share.

ReElement plans to collaborate with Advanced Technology International on future procurement opportunities and has submitted an application to join the Joint Directed Energy Consortium, a members-only initiative focused on accelerating the development of directed energy technologies for military applications.

Kirk Taylor, Chief Financial Officer of ReElement Technologies, said, "Supporting the U.S. Department of Defense with the critical minerals that enable advanced energy and defense systems is an opportunity we take great pride in."

ReElement Technologies specializes in refining rare earth and critical battery elements using its chromatography-based platform. The company focuses on processing recycled materials from rare earth permanent magnets and lithium-ion batteries, as well as concentrated ores and coal-based waste streams.

CREate aims to develop technologies for extracting, processing, and reclaiming rare earth elements with improved economic feasibility and reduced environmental impact, with a vision to achieve U.S. rare earth element independence.

The company’s membership in these consortia aligns with its focus on supporting domestic supply chains for critical minerals used in defense and energy applications.

In other recent news, American Resources Corporation has announced several significant developments. ReElement Technologies, a portfolio company of American Resources, has signed a memorandum of understanding with POSCO International to create an integrated rare earth and permanent magnet production complex in the United States. This facility aims to be the first in the U.S. to achieve full vertical integration for rare earth and permanent magnet production. Additionally, ReElement Technologies has secured a $20 million equipment leasing facility from Maxus Capital Group to expand production at its Indiana facilities. The Department of Defense has awarded ReElement $2 million to enhance its rare earth refining capabilities, addressing challenges in sourcing materials domestically. Furthermore, ReElement has entered a long-term supply agreement with Vulcan Elements to provide high-purity rare earth oxides for magnet production in the U.S. On the investment front, D. Boral Capital has initiated coverage on American Resources with a Buy rating and a $6.00 price target, highlighting its strategic ownership in critical mineral refining and its stake in ReElement Technologies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.