- Canada-based Ucore Rare Metals Inc. has developed a novel RapidSX(TM) technology for processing rare earth elements (“REEs”) considered critical to modern computer technologies and is preparing to scale up toaaa commercial operation
- Because REEs not only have significant importance to the retail sector, but also to the function of many technologies that further government policies and military capabilities, the U.S. Department of Defense has taken an interest in supporting domestic REE development
- Ucore recently received a $4 million award from the DOD to help demonstrate RapidSX(TM) capabilities under the REE supply chain development program
- The company held its initial meeting with the DOD July 6 regarding use of the award
Ucore Rare Metals (TSX.V: UCU) (OTCQX: UURAF), a supply chain and technology innovator for essential rare earth metals, is building toward commercial-scale operations utilizing its novel RapidSX(TM) solvent extraction process for separating rare earth elements (“REEs”) from their host ore, and is simultaneously working with the U.S. Department of Defense (“DOD”) to demonstrate that RapidSX(TM) is capable of delivering a North America-based REE technology for sustaining both traditional and emerging defense manufacturing sectors.
On June 6 the company announced that the DOD has awarded a $4 million project grant (Other Transaction Agreement, or OTA) to show that Ucore and RapidSX(TM) are able to meet government benchmarks (https://ibn.fm/sTBLd) as part of its efforts to establish an alternative supply chain for…
NOTE TO INVESTORS: The latest news and updates relating to UURAF are available in the company’s newsroom at https://ibn.fm/UURAF
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