The JV will utilize ReElement Techologies’ proven commercial-scale lithium-ion battery recycling and refining technology to produce lithium in Japan
American Resources Corporation (NASDAQ:AREC)
— Toshio Ozawa
FISHERS, INDIANA, UNITED STATES, November 15, 2023 /EINPresswire.com/ — American Resources Corporation’s (NASDAQ:AREC) (“American Resources” or the “Company”) ReElement Technologies Corporation (“ReElement”), a leading provider of high performance refining capacity of rare earth and critical battery elements, announced today that it has entered into joint venture partnership with JHUT LLC to a establish ReElement Technology Japan (“RTJ”), an entity that will operate lithium-ion battery and battery material recycling hub in the Oimachi, Oi-gun, Fukui Prefecture of Japan utilizing ReElement’s revolutionary and proven critical mineral recycling and refining technology.
Mark Jensen, Chief Executive Officer of ReElement Technologies commented, “Over the course of the last year, we have had the opportunity to collaborate and strategize on a partnership with the JHUT team, and we are excited that we have come to an agreement to move forward together. Japan has been a leader on the world stage for developing and utilizing high value, cutting edge technologies and it couldn’t be a better place for us to announce our first international JV expansion. We are excited to partner with JHUT to bring our technology to the Japanese market to source, recycle, and refine end-of-life lithium-ion batteries and manufacturing scrap back to ultra-pure, battery-grade materials, utilizing our proprietary, low cost and environmentally sustainable refining methods. We look forward to a long-term relationship with the JHUT team given their passion, drive and commitment to excellence.”
Toshio Ozawa, CEO of JHUT commented, “Over the course of the last few years we have evaluated multiple technologies for lithium refining and battery recycling and are excited to have selected the ReElement Technologies method and collaborate with the ReElement team, given their proven success and scalable technology. We have selected Oi-machi, Oi-gun, Fukui Prefecture as the site for our battery recycling and refining hub and have commenced working with local partners to showcase the RTJ partnership in the Japanese market. The need for recycled material has never been greater, and Japan has long been a leader in the electrified economy. We are excited to work with the ReElement team to solve the gap by being able to provide battery grade refined critical material back into the marketplace for reuse.”
RTJ will initially build a pilot facility that will operate at the selected site hub in the Oi-machi, Oi-gun, Fukui Prefecture of Japan which is capable of producing 100kg per day of battery grade lithium hydroxide or carbonate to showcase to the Company’s partners and customers in the Japanese market. Post commencement of production of the Japanese pilot facility, RTJ will work to increase the scale of the facility through its modular design capability, thereby increasing the Company’s capacity to recycle and refine a higher volume of battery material feedstock that is present in the Japanese market. ReElement is currently in the design and buildout phase of its 50 metric ton per day of lithium carbonate/hydroxide production line at their previously announced Marion, Indiana facility, which will be representative of the commercial scale production line that will be developed in Japan post pilot production.
ReElement Technologies will receive upfront fees to service, engineer, and design the initial production trains, as well as receive additional ongoing capital from JHUT and affiliates to build the initial commercial qualification plant that will showcase the technology in Japan for commercial partnerships and customers. Post the completion of the initial facility, expected in the second half of 2024, the parties will work together and with other strategic parties to build the first of several expected full-scale commercial facilities within Japan.