PHOENIX, Jan. 11, 2022 (GLOBE NEWSWIRE) -- American Rare Earths Limited (ASX: ARR, OTCQB: ARRNF), an exploration and technology company focused on the development of its Rare Earth and Scandium assets, is pleased to announce that its wholly owned US subsidiary, Western Rare Earths, has been named a Team Member of the highly esteemed Critical Materials Institute. The company's assets have the potential to be some of the largest rare earth deposits in the United States.
The Critical Materials Institute (CMI) is a multi-institutional, multi-disciplinary consortium led by the Ames Laboratory. CMI is an Energy Innovation Hub of the U.S. Department of Energy. Its focus is innovation to assure supply chains for materials critical to clean energy technologies with special focus on the Rare Earths supply chain for the United States. These critical materials are essential for American competitiveness in clean energy, including wind turbines, solar panels, electric vehicles, and energy-efficient lighting. The Department's "Critical Materials Strategy" reported that supply challenges for five rare earth metals may affect clean energy technology deployment in the coming years.
CMI is a public/private partnership, led by the Ames Laboratory, that brings together the best and brightest research minds from universities, national laboratories, and the private sector. The shared goal is to find innovative technology solutions that will help avoid a supply shortage that would threaten the US clean energy industry as well as security interests.
Strategic objectives for Team Members include opportunities to drive R&D, the option to license technology for deployment, and provide input to CMI research programs.
CMI Team Members have research subcontracts from CMI or are providing cost sharing funds. Requirements include specific research project deliverables within the entity's areas of expertise, based on a scope of work and a negotiated budget, including cost-share as applicable.
Western Rare Earths' invitation to become a CMI Team Member is a result of being a cost sharing co-applicant to a recently approved CMI R&D project expected to be announced in early 2022. The project includes other CMI Team Members, in the National Lab and University categories, as the primary researchers and Western Rare Earths providing feedstock, beneficiated Rare Earths mineralized ore, and industry guidance.
According to the CMI website, some Team Members include:
- Industry: BorgWarner, Lixivia, Marshallton Research Laboratories, Rio Tinto, Solvay, and Western Rare Earths
- Universities: Arizona State University, Colorado School of Mines, Idaho State University, Iowa State University, Pennsylvania State University, Purdue University, Rutgers, University of Arizona, University of Tennessee-Knoxville
- National Laboratories: Ames Laboratory, Idaho NL, Lawrence Livermore NL and Oak Ridge NL
* https://www.ameslab.gov/cmi/cmi-partners
Disclaimer: American Rare Earths Limited, nor its subsidiaries, does not claim affiliation to, nor endorsement of any CMI Team Member. American Rare Earths Limited, nor its subsidiaries, has not been endorsed or supported by any CMI Team Member.
About American Rare Earths Limited
American Rare Earths Limited (ASX: ARR; OTCQB: ARRNF; FSE: 1BHA) is an Australian exploration and technology company focused on rare earths with its most advanced projects in the US; which have the potential to be the largest rare earths deposits in the US.
MEDIA CONTACT: Susan Assadi
347 977 7125 susan@gapr.biz
Related Images
This content was issued through the press release distribution service at Newswire.com.
Attachment
