Linda Wang, the Maxine Spencer Nichols Professor of Chemical Engineering in the Davidson School of Chemical Engineering

American Rare Earth LLC, a subsidiary of American Resources Corp. (NASDAQ:AREC), received a partnership and investment by HG Ventures, the venture capital investment arm of The Heritage Group, to accelerate the development of the business.

American Resources Corp. licenses an innovation created by Linda Wang, the Maxine Spencer Nichols Professor of Chemical Engineering in the Davidson School of Chemical Engineering, that allows the extraction of rare earth and critical elements, critical components of many electronics and green products, from end-of-life magnets, batteries, waste coal/fly ash and carbon by-products.

The company has licensed the innovation through the Purdue Research Foundation Office of Technology Commercialization.

“The U.S. is currently importing more than 90% of rare earth and other critical materials. The alliance of American Resources and the Heritage Group will accelerate commercialization of the Purdue environmentally friendly technologies for producing the critical materials economically from many different primary and secondary feedstocks," Wang said. "The collaboration of the three teams will speed up the development of a sustainable circular economy of the critical materials.”

(The full story is on Purdue Research Foundation's Medium blog.)