- Ford Motor Co. recently announced a $9.2 billion government loan for constructing three battery factories in the U.S.
- This is seen as a move that seeks to stir the growth of domestic EV battery manufacturing in the country in response to the growing demand for green technologies
- Ucore recognizes this demand, and through its transformative commercial-ready technology, RapidSX(TM), it looks to satisfy it and take control of the North American REE supply chain
- The company is well aware of the developments within its industry and is well positioned to take advantage of them and become the undisputed leader in the North American market
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a company with a vision and plan to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry, is expected to benefit significantly given its focus on taking control of the North American rare earth elements (“REE”) supply chain. This follows the recent $9.2 billion government loan to Ford Motor Co. for constructing three battery factories, seeking to stir the growth of domestic EV battery manufacturing in the country (https://nnw.fm/Ia9lL).
Considered the biggest government backing for a U.S. automaker since the bailouts back in the 2009 financial crisis, this loan is seen by many, including car manufacturers, as the government’s move to incentivize local companies to devise and explore ways to not only come up with technology to harness the natural resources already present in North America but also grow industries around it. The objective is to, ultimately, do away with the current supply chain, which is highly dependent on China.
Ucore, through its transformative commercial-ready technology, RapidSX(TM), looks to satisfy this need to become a leading advanced technology company with best-in-class metal separation products and services to the mining and mineral extraction industry. Its unique value proposition has seen the company differentiate itself from its peers, and its confidence in its technology has seen its aggressive expansion and investment into the development of a heavy and light rare-earth processing facility in Louisiana.
“We are more confident than ever that Ucore’s planned rare earth separation facility in Louisiana will be a critical component of a North American rare earth supply chain,” noted Pat Ryan, Ucore’s Chairman, and CEO.
RapidSX(TM) combines the time-proven chemistry of conventional solvent extraction (“SX”) with a new column-based platform, significantly reducing time to completion and plant footprint. This technology also offers the potential to lower capital and operating costs, resulting in a more efficient process than the industry standard. Its scalable and modular nature also makes it ideal for the country’s current approach of ramping up its REE production capacity. In addition, its feedstock adaptability makes it readily configurable for separating any light or heavy REE (“LREE, HREE”) using the same equipment.
Ford Motor Co. has already committed to a $3.5 billion investment in an electric-vehicle battery plant in Michigan. Though controversial, the company has noted that it will operate with technology and support from China’s Contemporary Amerex Technology Co. Ltd., describing it as a “licensing” that will allow its engineers to “gain that knowledge so we can eventually do it ourselves” (https://nnw.fm/z6SYU).
With such steps and massive investments being made, it is only a matter of time before North America catches up, cuts into China’s advantage in EV batteries, and takes control of the global REE supply chain. Ucore is well aware of these developments and is ready to take advantage of them.
For more information, visit the company’s website at www.Ucore.com.
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://nnw.fm/UURAF
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