American Resources And LOHUM Cleantech Has Signed An MoU With ReElement Technologies And American Metals To Form Joint Venture For Establishing US First Fully Integrated Battery Recycling, Repurposing, And Critical Material Production Facility
Portfolio Pulse from Benzinga Newsdesk
American Resources Corporation and LOHUM Cleantech have signed a Memorandum of Understanding with ReElement Technologies and American Metals to form a joint venture. This venture aims to establish the first fully integrated battery recycling, repurposing, and critical material production facility in the US, with a 15.5 GWh capacity and an initial investment of $30 million. The facility is expected to create 250 green jobs and supply over 315,000 electric vehicles annually.
September 26, 2024 | 10:39 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
American Resources Corporation is part of a joint venture to establish the US's first fully integrated battery recycling facility. This initiative involves a $30 million investment and aims to supply over 315,000 electric vehicles annually.
The joint venture positions AREC at the forefront of the growing battery recycling industry, potentially increasing its market share and revenue. The significant investment and job creation highlight the project's scale and potential impact on AREC's growth.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90