American Resources Corporation (NASDAQ:AREC) announced that its reElement Technologies division and its offtake partner have received a notice of allowance from the US Patent and Trademark Office.
The allowance was granted for a pending patent application covering magnets manufactured by a "powder-in-tube" process, which Advanced Magnet Lab (the offtake partner) calls PM-Wire.
PM-Wire offers a new approach for the design, manufacture and optimized performance of permanent magnets and their end-use applications, the company said. Essentially, it enables the manufacturing of permanent magnets at high volume, high yield, low cost and with better flexibility in shapes and magnetization direction than traditional manufacturing processes.
“We fill tubes with magnet alloy powders which are then reduced to the ideal packing density, cross-section and shape in a fully automated process,” AML CEO Mark Senti said in a statement.
“Magnet sizes can be very long, their shapes can be curved, rings or helical. Additionally, we have propriety tools and methods for magnetization, which provide an ideal magnetic flux distribution, including a continuously changing magnetization.”
Chris Moorman, chief marketing officer at reElement, believes PM-Wire is a potential breakthrough technology.
“Having offtake partners such as AML which are creating innovative domestic magnet solutions is a game changer for national security and creating the necessary domestic supply chain needed for the electrification economy,” Moorman said. “We are excited to continue to work with AML to meet their feedstock needs."
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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