American Resources Corp (NASDAQ:AREC) announced that its ReElement Technologies subsidiary has been accepted as a member of the Consortium for Rare Earth Technologies (CREate) through a continued partnership with Advanced Technology International.
The company said ReElement's membership in CREate follows its recently announced $2 million award under the Department of Defense's Industrial Base Analysis and Sustainment Program, as well as its previous membership in the Defense Industrial Base Consortium.
American Resources noted that the milestones reinforce ReElement's growing role in fortifying the defense supply chain with secure, U.S.-based refining capabilities.
"Supporting the US Department of Defense with the critical minerals that enable advanced energy and defense systems is an opportunity we take great pride in," ReElement Technologies chief financial officer Kirk Taylor said in a statement.
"Our team is committed to accelerating these efforts and delivering secure, domestic supply solutions at speed."
American Resources added that ReElement will collaborate directly with Advanced Technology International (ATI) on future procurement and consortium opportunities including submitting an application to become a member of the Joint Directed Energy Consortium (JDEC).
As a member, ReElement will highlight its patented chromatography-based refining platform and its unique ability to onshore the production of ultra-pure rare earths and critical minerals essential to US defense readiness, according to the company.