American Resources announced ReElement Technologies has closed a $200 million strategic equity facility from Transition Equity Partners that the companies plan to use to scale U.S.-based critical mineral and rare earth refining capacity, starting with an expansion of ReElement’s Marion, Indiana operations.
American Resources said the financing supports the commercial deployment of ReElement’s proprietary multi-mineral refining platform, with near-term work centered on building out the Marion site to meet domestic demand for refined critical minerals used across electrification, advanced manufacturing, and defense-related supply chains. From that base, ReElement and Transition Equity Partners (TEP) said they intend to develop additional refining facilities across the United States and in select international markets.
The Marion facility is expected to serve as an anchor for a modular, scalable platform designed to process both light and heavy rare earths, as well as other critical elements associated with defense and industrial applications. ReElement’s process uses chromatographic separation methods that the company says can be deployed in a smaller footprint than traditional refinery configurations and can be scaled in a modular way as feedstock availability and demand increase.
With TEP’s backing, American Resources said the Marion plant is expected to reach an initial production capacity of more than 10,000 metric tons per annum of refined critical minerals. ReElement said it plans to source inputs from recycled feedstocks alongside mined mixed rare earth concentrates, while maintaining the flexibility to expand capacity further in Marion and at other locations the partners consider strategically important.
The companies framed the investment as part of a broader effort to strengthen U.S. and allied-nation supply chains for minerals and materials that face persistent sourcing constraints. ReElement said it is pursuing large-scale domestic processing and refining capabilities and pointed to recent collaborations aimed at building a vertically integrated rare earth magnet supply chain in the United States. The company also cited a partnership with POSCO International to support U.S.-based critical minerals and magnet production capabilities.
ReElement said its refining platform is intended to address demand for heavy rare earth elements and other defense-relevant materials that are not currently produced at scale in the United States, including minerals such as yttrium, gadolinium, germanium, antimony, terbium, and dysprosium. The company characterized these materials as important inputs for energy technologies, advanced electronics, and defense systems, while highlighting supply constraints and export controls that can affect availability in global markets.
TEP said its investment is designed to help broaden the range of domestic and allied feedstocks that can be converted into refined outputs, supporting supply chain resilience across energy and infrastructure priorities. ReElement said the equity facility also supports its longer-term international expansion plans, including work across regions such as Africa, the Middle East, and the Commonwealth of Independent States.
ReElement, a portfolio company of American Resources, positions its platform as a multi-feedstock refining process that can handle recycled rare earth permanent magnets and lithium-ion battery materials, as well as concentrated ores, brines, and coal-based waste streams and byproducts. The company said its approach supports a circular supply chain model by converting multiple types of raw and recycled inputs into high-purity products needed for industrial and defense uses.
Transition Equity Partners, founded in 2020, described itself as a North American mid-market private equity firm focused on power generation, energy infrastructure, and clean energy supply chains and services, with offices in Chicago, New York, and Abu Dhabi. The firm said it partners closely with management teams and projects aligned with its thematic investment strategy.
KEY QUOTES:
“We are excited to partner with Transition Equity Partners. Throughout this process, it became clear that we are closely aligned culturally and mission-wise — an alignment we believe is essential to addressing supply-chain challenges quickly while building long-term shareholder value. The $200 million commitment will enable ReElement to expand its manufacturing base initially in the United States and, over time, globally, to process and refine critical minerals and rare earth elements through a cost-competitive, modular, and scalable platform. TEP’s global reach and experienced advisory network are also supporting ReElement’s international expansion across Africa, the Middle East, and the Commonwealth of Independent States (CIS). TEP is more than an equity sponsor; they are a strategic partner actively supporting ReElement’s global growth.”
Mark Jensen, CEO, ReElement Technologies
“TEP is committed and equally excited to partner with ReElement, Mark Jensen and his leading management team to help fortify the U.S. supply chain for critical energy and strategic infrastructure. ReElement’s uniquely superior processing platform enables the U.S. to leverage numerous domestic and ally feedstocks to bolster a diverse set of critical mineral supply chains that are essential for a strong U.S. economy. This capability is further supported by ReElement’s collaboration with the U.S. government, and ability to ensure access to critical minerals necessary for energy dominance, AI leadership, strategic defense industries, among numerous other U.S. priorities. We believe ReElement is revolutionizing U.S. critical mineral supply chains by providing reliable, low-cost and environmentally superior processing capacity in the U.S.”
Pat Eilers, Managing Partner and Founder, Transition Equity Partners
