Rare earth elements processor ReElement Technologies, a subsidiary of raw materials producer American Resources, has secured a $20 million equipment leasing facility from Maxus Capital Group to expand rare earth and critical mineral production in Indiana.
The financing will support large-scale equipment purchases for ReElement’s facilities in Marion and Noblesville, according to a Sept. 10 American Resources release. The expansion aims to increase output of rare earths, battery materials and critical defense elements amid growing demand for domestic supply.
“Securing this financing marks another pivotal step forward for ReElement Technologies,” ReElement Chief Financial Officer Kirk Taylor stated in the release. “It allows us to meet near-term customer demand in Noblesville while accelerating scaled production in Marion — two key drivers of revenue growth.”
ReElement uses a proprietary separation and purification platform that offers a cost-effective, scalable and environmentally friendly alternative to conventional processing methods, according to the company. Its technology supports federal goals for mineral independence and the U.S. Department of Defense’s 2027 “mine-to-magnet” objective.
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Tags: commercial financingequipment financefacilitiestechnology
