On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Signs Agreement with NSP to Develop Revolutionary Rare Earth Metal TechnologyEnergy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) Signs Agreement with NSP to Develop Revolutionary Rare Earth Metal Technology

  • New tech has potential to reduce costs of production, energy consumption and greenhouse gas emissions
  • MOU key step in building a new, environmentally friendly REE supply chain in the United States
  • Two companies to create a new entity that will hold exclusive license to the technology as it specifically relates to REE metal making

Energy Fuels (NYSE American: UUUU) (TSX: EFR) is partnering with Nanoscale Powders LLC (“NSP”) with plans to develop a novel technology for the production of rare earth elements (“REE”) metals (https://ibn.fm/FO5x2). In the announcement, Energy Fuels noted that the Nanoscale’s patented rare earth metal-making technology has potential to revolutionize the rare earth metal space. 

“We believe this technology, which was initially developed by NSP, and will be advanced by the company and NSP working together, has the potential to revolutionize the rare earth metal making industry by reducing costs of production, reducing energy consumption, and significantly reducing greenhouse gas emissions,” the company stated when announcing the execution of the memorandum of understanding (“MOU”). “Producing REE metals and alloys is a key step in a fully integrated REE supply chain, after production of separated REE oxides and before the manufacture of neodymium iron boron magnets used in electric vehicles, wind generation and other clean energy and advanced technologies.”

The country’s leading uranium mining company, in 2021 Energy Fuels began making its mark in the REE sector. A newcomer to the space, UUUU is committed to building a new, environmentally friendly REE supply chain in the United States, and the company has made impressive progress, including beginning production of an intermediate rare earth product more advanced than any other U.S. company today. The agreement with NSP is another important step in Energy Fuels’ commitment to this new venture. 

NSP initially started as a company focused on producing solar-quality silicon metals and refractory metal powders. However, the company eventually began turned its attention to the production of titanium and alloy powders through sodium reduction before its most recent breakthrough — the development of an innovative process to create REE metals from REE oxides. 

The partnership between the two companies appears ideal, with NSP bringing its tech to the table while Energy Fuels contributes the rare earth material and industrial-scale processing facility. At its White Mesa Mill in Utah, UUUU is currently producing mixed REE carbonate while recovering uranium from natural monazite sands, which are produced as a low-cost byproduct of heavy mineral sands mining in the U.S. and around the globe. Energy Fuels’ REE carbonate is the most-advanced REE product being produced in the country today. 

According to the MOU, the two companies will create a new entity that will hold an exclusive license to the technology as it specifically relates to REE metal making. The agreement outlines phased development of the project, with Energy Fuels having the right to earn up to a 100% interest in the entity and technology. UUUU will be providing more than $1 million in funding for the project to begin with; in addition, the company agreed to fund future approved annual budgets as required for commercialization of the project, up to a maximum total expenditure of $10 million over three years.

“Metal-making is a critical step in the rare earth supply chain,” said Energy Fuels president and CEO Mark S. Chalmers. “Energy Fuels has already restored monazite ‘crack-and-leach’ capabilities to the U.S. at our White Mesa Mill in Utah, where today we are producing a high-purity mixed rare earth carbonate, which is ready for separation. No other company in the U.S. is currently producing a high-purity REE product ready for separation at commercial levels. We are also quickly moving toward adding solvent extraction separation equipment at the Mill and associated permitting that will allow us to produce commercial separated rare earth oxide powders in the coming years. In fact, we are already well advanced with piloting these capabilities on a continuous 24/7 basis at the mill today.

“The next step in rare earth processing and refining is turning those separated rare earth oxide powders into usable rare earth metals and alloys, particularly NdPr metal needed for NdFeB magnets used in EVs, wind generation and other technologies,” Chalmers continued. “If successful, Nanoscale’s metal-making technology could be orders of magnitude safer and less expensive than the current established technology. This is the type of technology we as Americans need to develop to produce advanced rare earth materials in a cost-competitive manner, while achieving the highest standards of protection of public health, safety and the environment. Nanoscale Powders has proven their technology on a small scale, and we look forward to working with them to advance the technology to pilot scale, and then to commercial scale in the coming years. Our relationship with Nanoscale Powders demonstrates Energy Fuels’ commitment to fully integrating a domestic REE processing supply chain in the most optimal and environmentally prudent manner possible.”

For more information, visit the company’s website at www.EnergyFuels.com.

NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU

About QualityStocks

QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.

QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com

Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php

Archives

Select A Month
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • September 2009
  • August 2009
  • July 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • February 2009
  • January 2009
  • December 2008
  • November 2008
  • October 2008
  • September 2008
  • August 2008
  • July 2008
  • June 2008
  • May 2008
  • April 2008
  • March 2008
  • February 2008
  • January 2008
  • December 2007
  • November 2007
  • October 2007
  • September 2007
  • August 2007
  • July 2007
  • June 2007
  • May 2007
  • April 2007
  • March 2007
  • February 2007
  • January 2007
  • December 2006
  • November 2006
  • October 2006
  • September 2006
  • August 2006
  • July 2006
  • June 2006
  • May 2006
  • April 2006
  • March 2006
  • January 2006
  • December 2005
  • October 2005
  • September 2005
  • Market Basics

    New to the micro-cap markets?Get answers to your questions about investing in Small-Cap / Micro-Cap Stocks and learn how to protect yourself.

    The Basics

    Newsletter Publishers

    Have an up and coming newsletter and want to be included in our coverage list? Looking to get more coverage and grow subscriptions? Register for coverage.

    Register

    Public Companies

    Are you a Small-Cap / Micro-Cap company looking for coverage? We'd love to hear from you. Fill out our quick contact form or send us a text.

    Get Covered