American Resources Corporation's ReElement Technologies Closes $44.9M In Local Incentives For Lithium-Ion Battery And Rare Earth Element Recycling Campus
Portfolio Pulse from Benzinga Newsdesk
American Resources Corporation's (NASDAQ:AREC) subsidiary, ReElement Technologies, has closed a $44.9 million bond purchase agreement for local incentives from the City of Marion, Indiana. The bond will fund the construction of a refining facility for lithium, critical minerals, and rare earth elements. The facility will produce ultra-pure battery elements and rare earth elements for EV battery and permanent magnet supply chains.
November 09, 2023 | 1:48 pm
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American Resources Corporation's subsidiary, ReElement Technologies, has secured $44.9 million in local incentives for a new refining facility. This could boost the company's position in the EV battery and permanent magnet supply chains.
The news of securing $44.9 million in local incentives for a new refining facility is directly related to American Resources Corporation and its subsidiary, ReElement Technologies. This could potentially boost the company's position in the EV battery and permanent magnet supply chains, which could have a positive impact on the company's stock in the short term.
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