American Resources Corp (NASDAQ:AREC), through its holding in ReElement Technologies, announced it has developed commercial protocols to produce germanium with purities exceeding 99.9% from both recycled and ore-based feedstocks.
The company's process is designed to supply commercial and defense markets requiring germanium products with purities ranging from 99.9% to 99.999%. Production can be sourced from virgin material or customer-provided recycled feedstock.
Mark Jensen, ReElement Technologies CEO, said demand for germanium in both commercial and defense industries is significant and growing, and that the company has recently received numerous recycled and ore-based feedstocks to develop commercial flow sheets aimed at partnering with providers and customers that need refined material now.
“I couldn't be more proud of our team's ability to establish these processing parameters using our industry-leading technology here in the United States,” he said.
Over the past few years, the company has focused on developing technical flow sheets for a wide range of critical material inputs while scaling existing production.
“Our innovative refining platform continues to demonstrate unmatched versatility and efficiency, enabling a truly independent critical mineral supply chain,” Jensen said.
He added that over the next year, ReElement will focus on scaling production at its Marion facility and at partner facilities worldwide through a collaborative, partnership-based model.
The CEO also noted that the company’s processes were developed with a focus on cost-effectiveness and economic viability. “We believe we are the most cost-effective, versatile, and scalable solution on the market today, both in terms of CapEx and OpEx,” Jensen said.
“Our platform reduces the risks associated with deploying midstream processing solutions and helps unlock and catalyze domestic markets.”
Shares of American Resources jumped nearly 14% at Monday's open in New York.