U.S. Rare Earths has entered into two agreements with Oak Ridge National Laboratory
U.S. Rare Earths, Inc., a rare earths exploration company with approximately 25,000 acres of mining claims in the U.S., announced today that it has entered into an exclusive global commercial patent license agreement with the Oak Ridge National Laboratory to utilize the Membrane Assisted Solvent Extraction for Rare Earths Technology (“MSX Technology”), which results in the recovery and separation of Neodymium, Dysprosium and Praseodymium from electronic E-waste.
U.S. Rare Earths has also signed a non-exclusive commercial patent license agreement for use of MSX Technology with intention of separation of REEs from their claims in the United States. Both the exclusive and non-exclusive commercial patent license agreement were signed between UT-Battelle, LLC, (a limited liability partnership between the University of Tennessee and Battelle Memorial Institute), (“Licensor”) and U.S. Rare Earths, Inc. (Licensee).
The Licensor, manages and operates the Oak Ridge National Laboratory under contract with the United States Department of Energy (DoE).