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Ucore Provides Update on RapidSX(TM) Technology for Near-Term Commercial Rare-Earth Elements Separation in USA
Halifax, Nova Scotia--(Newsfile Corp. - January 29, 2021) - Ucore Rare Metals Inc. (TSXV: ...
About this update from Ucore Rare Metals Inc.
[{"type":"text","content":"Ucore Provides Update on RapidSX(TM) Technology for Near-Term Commercial Rare-Earth Elements Separation in USAHalifax, Nova Scotia--(Newsfile Corp. - January 29, 2021) - Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) (\"Ucore\" or the \"Company\") is pleased to provide the following update regarding the Company's wholly owned subsidiary, Innovation Metals Corp. (\"IMC\"), and its ongoing commercialization development program for its RapidSX™ separation technology which is principally occurring at the RapidSX Commercialization and Development Facility (\"CDF\") in Kingston, Ontario, Canada.IMC's proprietary RapidSX technology is being commercialized for the intended cost-effective bulk separation and purification of rare-earth elements (\"REEs\") - including both heavy REEs (\"HREEs\") and light REEs (\"LREEs\") - for the production of REE oxides (\"REOs\"), in addition to other critical metals, such as lithium (\"Li\"), nickel (\"Ni\"), and cobalt (\"Co\") for lithium-ion battery materials. Commissioning of the RapidSX demonstration-scale pilot plant (\"RapidSX Demonstration Plant\") is scheduled to start in Q3 2021 with a comprehensive, independent techno-economic study and the design of a commercial-scale REE separation facility, both planned for completion in Q1 2022. With the anticipated ability to demonstrate the effectiveness of the RapidSX Demonstration Plant on REE feedstocks, IMC expects RapidSX to be ready for commercial adoption and implementation in approximately 15 months from now, via revenue-producing licensing agreements with IMC customers.Additionally, the critical data derived from the RapidSX development program will be incorporated into the ongoing development of Ucore's planned Alaska Strategic Metals Complex (\"Alaska SMC\") in Southeast Alaska. Ucore Chairman and Interim CEO, Pat Ryan, P.Eng. commented, \"Ucore is incredibly pleased with the significant progress IMC has made with the RapidSX technology development. The outlook and opportunity have never been stronger, and we firmly believe RapidSX has the potential to be a disruptive technology and keystone feature in achieving domestic REE production; resulting in faster and lower-cost production as compared to other competing REE separation technologies.\"\"President Biden's Executive Order 13990 combatting climate change and Executive Order 14...