Royalty Management Holding Corporation Announces Update With Pilot Scale Permanent Magnet Metal Alloys Program With Advanced Magnet Lab, Inc.
Portfolio Pulse from Benzinga Newsdesk
Royalty Management Holding Co. (NASDAQ:RMCO) has provided an update on its partnership with Advanced Magnet Lab, Inc. (AML) to develop proprietary metal alloy compositions for permanent magnets. The collaboration aims to reduce U.S. reliance on foreign rare earth magnet manufacturing, particularly from China. RMCO's investment in AML includes funding a pilot-scale lab and a royalty interest in the new alloys developed. AML's PM-Wire™ process, funded by the DoD and commercial partners, allows for the production of high-quality magnets from various materials, with less dependence on critical rare earth elements. The pilot lab is expected to produce magnet alloy samples in the first half of 2024 for prototyping.
January 08, 2024 | 2:01 pm
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Royalty Management Holding Co. is advancing its partnership with AML to develop new metal alloys for permanent magnets, which is crucial for domestic manufacturing and reducing reliance on foreign rare earth elements.
The update on the partnership with AML and the development of a pilot-scale lab for permanent magnet metal alloys is a positive step for RMCO. It indicates progress in a strategic area that could lead to future revenue streams through royalties and potentially reduce manufacturing costs by lessening the dependence on expensive rare earth elements. This news is likely to be viewed positively by investors, as it aligns with the current emphasis on domestic manufacturing and supply chain resilience.
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