NEWS
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
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$30 Million, and lead to the creation of 250 green jobs. The partnership is expected to initially supply over 315,000 electric vehicles annually with continued growth based on feedstock availability.
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 99.5%, which can then circulate in the U.S. domestic battery ecosystem.
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.
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 99.5%, which can then circulate in the U.S. domestic battery ecosystem.
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.
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