Latest news with #MarkJensen
Yahoo
a day ago
- Business
- Yahoo
Wolfspeed (NYSE:WOLF) Reports Q3 Sales Decline To US$185M
Wolfspeed recently appointed David Emerson as Chief Operating Officer, focusing on enhancing operational efficiency in their silicon carbide manufacturing. The company also welcomed two new board members, Mark Jensen and Paul V. Walsh, Jr., known for their expertise in financial governance and the semiconductor industry. These leadership changes occur amid challenging financial results, with Q3 sales declining to $185.4 million and an increased net loss of $285.5 million. These factors, against a backdrop of a market gaining 2%, could have amplified Wolfspeed's 17% share price decline over the past week. Every company has risks, and we've spotted 4 weaknesses for Wolfspeed (of which 1 is a bit unpleasant!) you should know about. AI is about to change healthcare. These 23 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. The recent leadership changes at Wolfspeed may influence its ongoing efforts to improve operational efficiency and financial performance. With David Emerson stepping in as Chief Operating Officer, the focus is expected to sharpen on enhancing silicon carbide manufacturing operations. Combined with the new board members' expertise, these changes could support Wolfspeed's plan to close inefficient facilities and leverage U.S. government support, potentially driving improvements in operating margins and liquidity. However, given the company's recent financial challenges, the impact of these changes on revenues and earnings remains uncertain. Over the past year, Wolfspeed's total shareholder return was very large as it dropped 95.49%. This severe decline far exceeded the company's short-term market loss of 17% following the latest financial reports. Over the same year, Wolfspeed underperformed the broader U.S. market, which recorded an 11.9% gain, and the U.S. Semiconductor industry, which saw an 11.6% increase. This stark comparison highlights the company's struggles despite having the potential for revenue growth in sectors like EVs and renewable energy. Looking ahead, the share price currently stands at US$3.47, significantly undervalued compared to the consensus analyst price target of US$5.7—a 39.1% potential increase. Nonetheless, achieving this target could be challenging given the company's forecasted continued unprofitability over the next three years. The ability to leverage advancements in 200-millimeter technology and secure CHIPS Act funding will be crucial for improving revenue and earnings forecasts. Gain insights into Wolfspeed's future direction by reviewing our growth report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:WOLF. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Novare Holdings invests in ReElement to expand rare earth refining in Indiana
American Resources, through its subsidiary ReElement Technologies, has secured an anchor investment from South African investment firm Novare Holdings. This strategic funding is set to catalyse a significant expansion of rare earth element refining operations in Marion, Indiana, US. The investment from Novare will unlock approximately $150m in financing, combining equity and debt, to enhance ReElement's refining capabilities at its 42-acre site. This site, formerly the RCA-Thomson television factory, is being transformed into an advanced manufacturing hub. ReElement Technologies CEO and chairman Mark Jensen said: 'This is a historic moment. With Novare as our anchor investor, we are not just expanding capacity – we are reshaping the global critical minerals supply chain. 'Together, we are proving that African capital can invest in America's best technology, and that same technology can deliver lasting value back to Africa. The former RCA factory in Marion will once again power American industry, and Africa will rise as a full participant in high-value mineral processing.' ReElement's patented chromatographic separation technology, developed in collaboration with Purdue University, enables the production of ultra-pure light and heavy rare earth oxides. The new capital injection will allow ReElement to boost its output of these high-purity elements, which are crucial for advanced technologies in commercial and defence sectors. Novare's investment not only supports US technological growth but also sets a precedent for international partnerships that enhance economic opportunities between Africa and the US. Furthermore, the partnership between ReElement and Novare extends to deploying the refining technology in Africa, where a significant investment from Novare will establish the continent's first multi-mineral refining facility. This initiative aims to shift from the traditional mining model to one that promotes local industrial development and secure supply chains for manufacturing-grade minerals. ReElement's refining platform, adapted from pharmaceutical purification technology by Purdue, offers a more efficient, scalable and environmentally friendly alternative to traditional solvent extraction methods. The platform's programmability allows for the handling of various feedstocks and minerals, facilitating rapid deployment and minimal environmental impact. Novare Holdings CEO Ola Leepile said: 'Novare is proud to stand behind ReElement as it scales groundbreaking American technology. This investment reflects our belief that African institutional capital has a powerful role to play in global industrial transformation. 'We are backing US innovation at home and abroad – supporting jobs and growth in Indiana and bringing long-overdue value addition and industrial development to the African continent.' Furthermore, American Resources and ReElement Technologies have expanded their antimony refining contract to bolster the supply of ultra-pure antimony products for the US defence and commercial industries. The extended ten-year agreement, with automatic renewals, is expected to generate more than $29m in annual tolling revenues. "Novare Holdings invests in ReElement to expand rare earth refining in Indiana" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Associated Press
2 days ago
- Business
- Associated Press
ReElement Technologies Corporation and Exigo Battery Solutions Pvt. Ltd. Announce A Joint Venture For Rare Earth Magnet Recycling
Recycling feedstock such as EV motors, HDDs, wind turbines, MRI machines, and other permanent magnet-containing materials scaling to 2,000+ metric tons per annum The partnership brings together two companies from two nations that are dedicated to developing cost effective domestic supply chains for critical minerals and rare earth elements FISHERS, IN / ACCESS Newswire / June 3, 2025 / American Resources Corporation (NASDAQ:AREC) ('American Resources'), through its holding in ReElement Technologies Corporation ('ReElement' or 'RTC'), a leading U.S. innovator in rare earth element (REE) and critical mineral refining, announced today that it has signed a memorandum of understanding (MOU) to enter into a joint venture agreement with Exigo Battery Solutions Pvt. Ltd. ('Exigo') to have the joint venture entity utilize ReElement's proprietary rare earth oxide refining technologies within the United States and in India along with Exigo's ability to source, process, and supply rare earth concentrates to be efficiently and cost effectively refined to separated and purified 99.5%+ oxides (NdPr, Nd, Dy, Tb). The goal of the joint venture is to grow the partnership to 2,000 metric tons or greater per year as part of the joint venture commercial relationship. Exigo will initially supply rare earth concentrates to ReElement's Marion, Indiana facility to be refined to magnet grade oxides, with the goal of expanding thereafter by deploying ReElement's technology to India to refine such rare earth elements. Mark Jensen, Chairman of ReElement Technologies, stated 'We believe collaboration and coordination is the key to developing a cost competitive supply chain in the rare earth industry. The team at Exigo has been excellent to work with and the partnership is built to enable the combined JV to be able to compete head-to-head on cost, purity and scalability with the current supply chain. Utilizing ReElement's technology to refine end-of-life magnets to separated, purified heavy and light rare earth oxides is a relatively straightforward process and something we have been doing in Indiana for over three years. We are excited to partner with the Exigo team to help source and supply feedstock for our current slate of customers in Marion, IN where we both benefit from the profit generated off the final high purity oxides, maximizing value for both parties while also insulating the partnership from a cost perspective. Rahul Singh, Business Head of Exigo Battery Solutions Pvt. Ltd. commented further 'As Exigo expands its international presence we are excited to partner with an innovative and proven American company where we can jointly unlock the value of the rare earth supply chain. Our goal is to provide substantial feedstock to the joint venture through our consolidation and processing network to become a major player in the rare earth marketplace. We are also excited to work with ReElement to ultimately deploy their technology within India to further drive down costs and reduce the need for logistics in the future.' ReElement utilizes its patented technology for the separation and purification phase of rare earth and critical battery and defense material processing and refining that maximizes the surface area interface by using columns and resins, rather than toxic acids and solvents typically used in hydrometallurgical processes. Utilizing its patented technology, it is able to eliminate a significant amount of CapEx, physical footprint, environmental impact, chemicals and associated OpEx to create the separation and purification of rare earth and critical minerals. The technology was designed over decades from commercially operating processes in the separation and purification of fructose and glucose in the sugar industry to commercial production of insulin in the pharmaceutical industry. ReElement Technologies is committed to leading the domestic supply chain for refined rare earth and critical battery elements in the electrified economy and national security needs. The Company has proven that its patented chromatographic separation and purification technology is a low cost, scalable, flexible and environmentally safe replacement to the legacy environmentally and socially toxic alternatives used for critical and rare earth element separation and purification. As the Company executes and scales the production at its own and partner facilities, it will significantly reduce the United States' dependency on foreign nations for the supply of these critical raw materials while also creating a true circular life-cycle solution. Learn more about ReElement Technologies' process and technology here - Video. About ReElement Technologies Corporation ReElement Technologies Corporation is a leading provider of high-performance refining capacity for rare earth and critical battery elements. Its multi-mineral, multi-feedstock platform technology focuses on the refining of recycled material from rare earth permanent magnets and lithium-ion batteries, concentrated ores and brines, as well as coal-based waste streams and byproducts to create a cost effective and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable 'Powered by ReElement' process which collaboratively utilizes its exclusively licensed intellectual property within its partners' material processing flow sheets to more efficiently support the global supply chain's growing demand for magnet and battery-grade products. For more information visit or connect with the Company on Facebook, Twitter, and LinkedIn. About American Resources Corporation American Resources Corporation is a leader in the critical mineral supply chain, developing innovative solutions both upstream and downstream of the refining process. The company and its affiliates focus on the extraction and processing of metallurgical carbon and iron ore, essential ingredients in steelmaking, as well as critical and rare earth minerals for the electrification market and recycled metals. Leveraging its affiliation and former parent status of ReElement Technologies Corporation, a leading provider of high-performance refining capacity for rare earth and critical battery elements, American Resources is investing in and developing efficient upstream and downstream critical mineral operations. These operations include mining interests in conventional and unconventional sources, recycling, and manufacturing. American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit or connect with the Company on Facebook, Twitter, and LinkedIn. About Exigo Battery Solutions Pvt. Ltd Exigo, a decade-old leader in advanced recycling technologies, is committed to building a circular economy through the recovery of critical and rare earth metals. As India accelerates its clean energy and electronic transitions, Exigo stands at the forefront with cutting-edge processes for e-waste, EV batteries, and solar panel recycling. Now, in a strategic joint venture with U.S.-based ReElement Technologies, Exigo is taking a major step to localize the rare earth and critical material supply chain-closing the loop entirely within India. For more information visit or connect with the Company on , X, and LinkedIn. Special Note Regarding Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words 'believes', 'may', 'will', 'should', 'would', 'could', 'continue', 'seeks', 'anticipates', 'plans', 'expects', 'intends', 'estimates', or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved. Investor Contact: JTC Team, LLC Jenene Thomas (908) 824 - 0775 [email protected] Media Inquiries: Marjorie Weisskohl 703-587-1532 [email protected] Company Contacts: Mark LaVerghetta 317-855-9926 ext. 0 [email protected] Rahul Singh +919560585292 [email protected] SOURCE: American Resources Corporation press release
Yahoo
3 days ago
- Business
- Yahoo
ReElement Technologies Secures Anchor Investment from South African Firm Novare Holdings to Catalyze Rare Earth Element Refining Expansion in America's Heartland
South African Firm Commits to Driving American Industrial Renewal and Africa-U.S. Commercial Diplomacy FISHERS, IN / / June 2, 2025 / American Resources Corporation (NASDAQ:AREC) ("American Resources"), through its holding in ReElement Technologies Corporation ("ReElement"), a leading U.S. innovator in rare earth element (REE) and critical mineral refining, announced today that Novare Holdings Proprietary Limited ("Novare"), a South African-headquartered institutional investment firm, has committed to be the anchor investor in ReElement's private capital raise. This commitment will help unlock approximately $150 million in combined equity and debt financing to expand ReElement's refining operations at its 42-acre Marion, Indiana supersite - revitalizing the former RCA-Thomson television factory, once a symbol of American industrial strength. ReElement is proud to revive the facility as a hub for advanced manufacturing, signaling the return of high-value industry to the American heartland. ReElement's patented chromatographic separation platform was developed in partnership with and based on pioneering research from Purdue University, one of America's premier research institutions. ReElement has exclusively commercialized this technology and continues to collaborate actively with Purdue to refine and scale its application for critical mineral separation. The company has proven its capability at small commercial scale, delivering ultra-pure light and heavy rare earth oxides to U.S. and allied magnet manufacturers. This new capital enables ReElement to significantly increase output of high-purity elements essential for advanced technologies in both the commercial and defense sectors. The announcement marks a powerful example of how strategic foreign investment can accelerate U.S. innovation, industrial revitalization, and supply chain resilience. Novare's commitment to ReElement's domestic scale-up not only supports the growth of advanced American technology, but also demonstrates a forward-looking model for international partnership - one that bridges economic opportunity between Africa and the United States while reinforcing critical sectors tied to national and global security. The investment also deepens ReElement and Novare's ongoing partnership to deploy the same U.S. refining technology to Africa, announced this past February, where Novare's large capital commitment will fund the continent's first multimineral refining facility. By co-locating value-added processing and refining in Africa, this collaboration reverses the "extract-to-export" mining model, enabling local beneficiation, industrial development, high-skill job growth, and secure offtake of manufacturing-grade minerals by U.S. and allied supply chains. Mark Jensen, CEO and Chairman of ReElement Technologies, stated: "This is a historic moment. With Novare as our anchor investor, we are not just expanding capacity - we're reshaping the global critical minerals supply chain. Together, we're proving that African capital can invest in America's best technology, and that same technology can deliver lasting value back to Africa. The former RCA factory in Marion will once again power American industry, and Africa will rise as a full participant in high-value mineral processing." Ola Leepile, CEO of Novare Holdings, added: "Novare is proud to stand behind ReElement as it scales groundbreaking American technology. This investment reflects our belief that African institutional capital has a powerful role to play in global industrial transformation. We are backing U.S. innovation at home and abroad - supporting jobs and growth in Indiana and bringing long-overdue value addition and industrial development to the African continent." ReElement's refining platform - originally developed by Purdue for pharmaceutical purification - has been reengineered to separate rare earths and critical minerals with exceptional efficiency, scalability, and purity. Their patented, programmable platform handles multiple feedstocks and minerals, enabling rapid modular deployment across locations and resource types. Unlike legacy solvent extraction methods, it uses far fewer chemicals, requires less space, and generates minimal waste - making it faster to permit and simpler to co-locate near feedstock or end-use customers. This breakthrough eliminates a major chokepoint in global critical mineral supply chains, which has been dominated by single-source processing, no longer tenable as the U.S. must forge critical mineral supply chain independence, both through processing in the US and in partnership with allies abroad. With this capital infusion, ReElement moves decisively forward on its roadmap to become the world's leading independent processor of rare earth and critical minerals. Learn more about ReElement Technologies' process and technology here - Video. About ReElement Technologies Corporation ReElement Technologies Corporation is a leading provider of high-performance refining capacity for rare earth and critical battery elements. Its multi-mineral, multi-feedstock platform technology focuses on the refining of recycled material from rare earth permanent magnets and lithium-ion batteries, concentrated ores and brines, as well as coal-based waste streams and byproducts to create a cost effective and environmentally-safe, circular supply chain. ReElement has developed its innovative and scalable "Powered by ReElement" process which collaboratively utilizes its exclusively licensed intellectual property within its partners' material processing flow sheets to more efficiently support the global supply chain's growing demand for magnet and battery-grade products. For more information visit or connect with the Company on Facebook, Twitter, and LinkedIn. About Novare Novare is multi-disciplinary investment holding company headquartered in South Africa. The company is a leading provider of investment solutions to predominantly institutional clients on the African continent. The group's investment solutions which are provided through fully owned subsidiaries encompasses Real Estate Funds, Impact Investing Funds, Multi Managed Funds and Implemented Investment Consulting across a range of asset classes. The group has physical operations in five African countries namely South Africa, Nigeria, Mozambique, Mauritus and Zambia. For more information visit or connect with the Company on LinkedIn. About American Resources Corporation American Resources Corporation is a leader in the critical mineral supply chain, developing innovative solutions both upstream and downstream of the refining process. The company and its affiliates focus on the extraction and processing of metallurgical carbon and iron ore, essential ingredients in steelmaking, as well as critical and rare earth minerals for the electrification market and recycled metals. Leveraging its affiliation and former parent status of ReElement Technologies Corporation, a leading provider of high-performance refining capacity for rare earth and critical battery elements, American Resources is investing in and developing efficient upstream and downstream critical mineral operations. These operations include mining interests in conventional and unconventional sources, recycling, and manufacturing. American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit or connect with the Company on Facebook, Twitter, and LinkedIn. Special Note Regarding Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved. Investor Contact: JTC Team, LLCJenene Thomas(908) 824 - 0775arec@ Media Inquiries: Marjorie Weisskohl703-587-1532mweisskohl@ Company Contact: Mark LaVerghetta317-855-9926 ext. 0investor@ SOURCE: American Resources Corporation View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Regeneron agrees to purchase bankrupt 23andMe, protect data
This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. Bankrupt genetic testing company 23andMe announced Monday that it agreed to be sold to biotechnology firm Regeneron Pharmaceuticals for $256 million. The deal, which is subject to approval by a federal bankruptcy court, includes Regeneron's commitment to comply with 23andMe's data privacy policies and 'process all customer personal data in accordance with the consents, privacy policies and statements, terms of service, and notices currently in effect,' according to a press release. 'We are pleased to have reached a transaction that maximizes the value of the business and enables the mission of 23andMe to live on, while maintaining critical protections around customer privacy, choice and consent with respect to their genetic data,' 23andMe Board Chair Mark Jensen said in the release. Sunnyvale, California-based 23andMe filed for bankruptcy in March after facing financial challenges in recent years and a massive data breach in 2023. Federal Trade Commission Chairman Andrew Ferguson is among public officials who have expressed concern about whether data privacy commitments made by 23andMe would be kept in the event of a sale of the company and its assets. 'As you may know, 23andMe collects and holds sensitive, immutable, identifiable personal information about millions of American consumers who have used the Company's genetic testing and telehealth services,' Ferguson said in a March letter to Acting U.S. Trustee Jerry Jensen. The information includes genetic data, biological DNA samples, health records, and ancestry and genealogy details, he said. A spokesperson for the FTC declined to comment on the deal with Regeneron. Under the terms of the agreement, Regeneron will acquire 'substantially all of the assets' of 23andMe. The proposed sale doesn't cover 23andMe's Lemonaid Health subsidiary, which the company plans to wind down, the press release said. 'We believe we can help 23andMe deliver and build upon its mission to help people learn about their own DNA and how to improve their personal health, while furthering Regeneron's efforts to improve the health and wellness of many,' George Yancopoulos, Regeneron's president and chief scientific officer, said in the release. The proposed transaction is expected to close in the third quarter, subject to approval by the U.S. Bankruptcy Court for the Eastern District of Missouri as well as 'customary closing conditions,' including a review required by U.S. antitrust regulations, the release said. A court hearing to consider approval of the transaction is currently scheduled for June 17. A court-appointed, independent consumer privacy ombudsman will conduct an examination of the transaction and its potential impact on consumers' privacy, according to the release. The ombudsman is expected to present a report to the court by June 10. The deal highlights the need for comprehensive federal data privacy protections, according to J.B. Branch, a 'Big Tech accountability advocate' for Washington-based public interest group Public Citizen's Congress Watch division. 'The precedent is being set that your DNA can be considered a business asset which is in complete contradiction to any notion of human dignity,' Branch said in an email. 'Congress needs to pass real digital privacy laws that are ironclad and protect consumers from having their literal identifiable information sold off to the highest bidder.' Without such federal protections, Regeneron's intentions to prioritize the privacy and security of consumer genetic data 'still leave consumers concerned about their highly sensitive genetic data,' said Suzanne Bernstein, counsel for the Electronic Privacy Information Center, another advocacy group. '23andMe consumers could not have envisioned, or meaningfully consented to their genetic data being sold or used for purposes outside of the original context to discover family heritage or genealogy,' Bernstein said in an email. Recommended Reading FTC chief flags data privacy concerns in 23andMe bankruptcy
