- American Resources ( NASDAQ: AREC ) has announced that reELEMENT Technologies has put in place an independent working capital facility that will enable the division to expand to revenue and cash flow generation .
- This initial working capital facility of $2M will be used to expand the production capabilities of rare earth and battery element recycling.
- Its also enables reELEMENT Technologies to establish credit history and provides low cost, non-dilutive, growth capital to expand current rare earth and battery element purification facility.
- "We're impressed by the revolutionary technology that they're commercializing and believe our capital is a cost effective way to leverage their asset base and expand their magnet and battery recycling capacity." said Mike Dance, COO of Maxus Capital.
For further details see:
American Resources' reELEMENT secures working capital facility