Business
Royalty Management Holding Corporation Announces Update with Pilot Scale Permanent Magnet Metal Alloys Program with Advanced Magnet Lab, Inc.
Development of proprietary metal alloy compositions, used in the manufacturing of permanent magnets, is a key bottleneck to domestic, rare earth magnet
About this update from Royalty Management Holding Corporation
[{"type":"text","content":"Development of proprietary metal alloy compositions, used in the manufacturing of permanent magnets, is a key bottleneck to domestic, rare earth magnet manufacturingFISHERS, IN / ACCESSWIRE / January 8, 2024 / Royalty Management Holding Co. (Nasdaq:RMCO) (\"Royalty Management\" or the \"Company\") an innovative royalty company building shareholder value by acquiring and developing high value assets in sustainable market environments, is pleased to provide an update to its investment in a state-of-the-art permanent magnet materials program with Advanced Magnet Lab, Inc. (\"AML\"). The sponsorship is focused on the stand up of lab-scale capabilities for the development of proprietary metal alloy compositions that are used in the manufacturing of permanent magnets.\"We are excited to explore a new frontier for new alloys and material compositions for the creation of the next generation of permanent magnets and see the potential for many new markets based on our collaboration and investment with AML,\" stated Thomas Sauve, CEO of RMCO. Mr. Sauve continued, \"this lab will enable AML to begin exploring novel material compositions for permanent magnet applications with leading companies in defense, automotive, and general industry. These capabilities will be key to reshoring a domestic supply chain of permanent magnet production within the United States, thereby reducing reliance on nations such as China.\"The strategic partnership between RMCO and AML began in December 2022, when RMCO engaged with AML to fund the setup and development of a pilot-scale lab for producing novel metal alloys compositions for producing magnet powder. This relationship also provides RMCO with a royalty interest in these novel compositions developed that are consumed in producing permanent magnets.AML is a leading developer of magnet-based technologies and has developed a novel process, PM-Wire™, for producing permanent magnets, which has been funded by the U.S. Department of Defense (DoD) and commercial partners. AML is presently being sought after to scale its manufacturing process by several strategic partners across the United States.PM-Wire™ is a scalable and modular, manufacturing process, that has ability to produce non-sintered and sintered permanent magnets at a high-rate and high-yield from a variety of materials. The process is adaptable to a var...