Advanced Magnet Lab, Inc. (AML) has developed a novel and innovative approach to manufacturing magnets that contain both rare earth and non-rare earth elements
FISHERS, IN / ACCESSWIRE / June 30, 2023 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today celebrates AML's announcement that the United States Patent and Trademark Office has provided a notice of allowance for a pending patent application covering magnets manufactured by a "powder-in-tube" process.
This breakthrough technology, called PM-Wire™, takes a new approach for the design, manufacture and optimized performance of permanent magnets and their end-use applications.
Advanced Magnet Lab, Inc - PM-WIRE
PM-Wire™ enables for the manufacturing of permanent magnets at high volume, high yield, low cost and with better flexibility in shapes and magnetization direction as compared to conventionally manufactured magnets that require a significant amount of labor and present challenges with scaling commercially in a regulated environment outside of regions such as China.
Furthermore, PM-Wire™ can enable the use of lower cost rare earth and non-rare earth materials, while improving the performance and lowering the cost of the end-use products such as motors.
Mark Senti, CEO of AML commented, "In AML's process, we fill tubes with magnet alloy powders which are then reduced to the ideal packing density, cross-section and shape in a fully automated process. Magnet sizes can be very long, their shapes can be curved, rings or helical. Additionally, we have propriety tools and methods for magnetization, which provide an ideal magnetic flux distribution, including a continuously changing magnetization. Much like a Halbach array - but better. It is also very low cost to manufacture and super easy to assemble into a motor."
Chris Moorman, CMO of reElement Technologies commented, "Having offtake partners such as AML which are creating innovative domestic magnet solutions is a game changer for national security and creating the necessary domestic supply chain needed for the electrification economy. We are excited to continue to work with AML to meet their feedstock needs."
About Advanced Magnet Labs, Inc.
Founded in 1995, AML is a recognized leader in the development of innovative magnet-based applications. AML has been at the forefront of some of the most anticipated transformational solutions in a broad range of sectors, including energy, industrial solutions, transportation, water treatment and medical solutions. By enabling such critical solutions, AML helps its customers deliver significant economic and social impact around the world. AML offers a total, end-to-end capability that brings together advanced technologies, skills and specialized knowledge sharply focused on the commercialization of superconductivity and high-performance magnetics. With its Perfect-FieldTM Application Development Process at its heart, the company's layered intellectual property portfolio is comprised of dozens of existing and pending patents that cover hundreds of discrete technologies and capabilities. It also encompasses dozens of strategic partners, as well as an impressive list of international science projects, laboratories, universities, foundations and government agencies. Customers include government, startups, Fortune 100 and Global 2000 companies.
About American Resources Corporation
American Resources Corporation (NASDAQ:AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
About reElement Technologies LLC
ReELEMENT Technologies LLC is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. American Rare Earth has developed its innovative and scalable "Capture-Process-Purify" process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
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SOURCE: American Resources Corporation
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