American Resources Corporation (NASDAQ:AREC) has announced that the company's subsidiary American Rare Earth LLC (ARE) has partnered with IN3 (Indiana Innovation Institute), a leading applied research institute and collaborative organization.
The parent company said the collaboration will help expand its industry relationships and further secure inroads to promote American Rare Earth's commercial production of critical and rare-earth elements such as lithium, cobalt, nickel, neodymium, praseodymium, and dysprosium at its production facilities.
IN3 is composed of top leaders from academia, government, and industry. Its leadership and board of directors comprise industry, academic and political leaders from Indiana and the US.
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IN3 streamlines processes and facilitates partnerships so innovations can be completed while the need remains strong. It builds research teams from across its network that increase opportunities to win major grants and contracts.
American Resources said IN3’s vast resources and network of partners include some of the top laboratories, research facilities, and talent in the nation and enables them to manage complex technology projects from start to finish. That includes identifying viable tech options, collaborating with new partners from industry, academia, and government, and pairing with subject matter experts.
“With the growing importance of securing critical metals and elements domestically, and the rapidly growing demand for these materials for electric motors and batteries, American Rare Earth has a technology key to this sector, and IN3 is excited to be a part of it and extend our expertise to help them grow," said IN3 CEO Stephen Kelly in a statement.
Mark Jensen, CEO of American Resources, added: "IN3 is exactly the kind of organization we look to partner with as we expand the commercialization of our patents: their network of business leaders, governmental relations, and industry contacts will help accelerate our efforts and open doors faster than would otherwise be possible. Our initial work with IN3 has been incredibly fruitful and we look forward to expanding our collaboration."
Through its innovative process chain, American Rare Earth is bringing viable solutions to the domestic supply chain of critical and rare earth elements. Its final-stage purification process is a strategic and key component for onshoring domestic production of these critically important resources and to help broaden domestic manufacturing. Additionally, its low-cost and environmentally safe, patented process addresses US supply chain, sustainability, and security challenges.
With the depth and strength of IN3's management, board of directors, and partners, American Resources said its subsidiary anticipates a "fruitful collaboration" and the ability to accelerate its current progress of identifying and partnering with valuable downstream and upstream customers and market participants.
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