American Resources’ ReElement enters JV partnership with JHUT

American Resources Corporation’s ReElement Technologies Corporation has entered into joint venture partnership with JHUT LLC to a establish ReElement Technology Japan, 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. 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.