American Resources furthers investment in RE with ETI purchase

Indiana coal operator American Resources, which has consistently solidified its commitment to rare earths and carbon technology, has added additional capabilities to its next-gen arsenal with the purchase of RE and battery metals extraction group Energy Technologies Inc. (ETI).

American Resources said late last week that it had signed a binding letter of intent for the acquisition, though no financial information was disclosed. The company’s existing team will join the American Resources team, and business will advance under the AR umbrella.

ETI, formerly an arm of SAIC, was founded in 1994. American Resources officials said some key highlights of adding ETI include the assumption of three patented technologies in elemental selection and analysis, with additional patents in design and in process; participation in Department of Energy or government sponsored projects; an installation roster to date that includes over 441 Dual-Gamma analyzers, 79 elemental analyzers and 223 process control analyzers worldwide; and a technology portfolio focused on clean energy initiatives, infrastructure operating efficiency, and rare earth and battery metals extraction efficiency.

Some specific patents included in the purchase: the ETI Model 730 Full Stream Elemental Analyzer; the Model 500 Nuclear Belt Scale /Density Meter; the Model DGA-410 /DGA-410M Dual-Gamma Ash Analyzer (Ashmeter); the Model 600 Process Analyzer; and the Model 2000 High Speed Sort Gate.

American Resources CEO Mark Jensen said it has been working with ETI for several years, most recently as part of a U.S. Department of Energy Federal Demonstration Partnership award that was led by ETI for the analyzing and sorting of mineral-rich resource feedstock.

“We had the opportunity to better understand ETI’s capabilities and the quality of their technology, and also came away with a very high regard for…[the] team,” he said.

“As we continue to expand our footprint of feedstocks, we believe the addition of their patented technologies will highly complement our leading suite of IP with regards to capturing, processing and purifying critical and rare earth elements in the lowest cost and environmentally safe methods.”

He added that, economically, the first mile of extraction rare earth and battery metal concentrates from any feedstock is key. 

“What we’ve seen in the latest technology implemented by ETI is a game-changer, given it can analyze and separate rare earth and battery metals feedstocks in real time and in a very low-cost method at the initial point of extraction. In the latest project, we have seen ETI’s technology increase the concentration of targeted material by approximately [five times] right at the initial collection point.”

The transaction, the completion date for which was not provided, will be funded with cash and stock. 

American Resources’ operational portfolio is focused on the Central Appalachian basin of eastern Kentucky and southern West Virginia.

Source: American Resources

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