ReElement Technologies Secures $20 Million in U.S.-Backed Expansion Funding
ReElement Technologies Corp a subsidiary of American Resources Corporation, has successfully raised $20 million through a U.S.-focused private capital investment round. This funding will support the expansion of its refining operations for critical minerals, including rare earth elements and lithium, at its facilities in Indiana.
Strategic Investment Amid Global Supply Chain Challenges
The investment comes at a time when global supply chains for critical minerals are under pressure due to export restrictions from major producers like China. ReElement’s CEO, Mark Jensen, emphasized the importance of building a resilient, U.S.-based supply chain for essential minerals tied to national security. The company’s proprietary multi-mineral refining platform has attracted significant interest from domestic investors, leading to a pre-money valuation of $150 million.
Expansion of Indiana Facilities
The funds will be used to procure and install commercial-scale refining equipment at ReElement’s Noblesville and Marion, Indiana facilities. These upgrades aim to increase the production capacity of ultra-pure rare earth elements and battery-grade lithium, essential components for electric vehicles, renewable energy technologies, and defense applications.
Additionally, the capital will help reduce borrowing costs associated with ongoing bond financings for the Indiana operations. ReElement has also engaged a major investment bank to assist with its next funding round, which may involve American Resources monetizing a portion of its remaining stake in the company, depending on valuation.
Commitment to Domestic Supply Chain Development
ReElement’s focus on domestic, patriotic-based funding sources reflects its commitment to strengthening the U.S. supply chain for critical minerals. The company’s innovative refining technology and strategic expansion efforts position it as a key player in addressing the nation’s growing demand for essential minerals in various high-tech and defense sectors.