HOUGHTON, MI – December 22, 2023 – Revex Technologies, a Michigan Tech Enterprise Corporation (MTEC SmartZone) client, announced that it has entered into a definitive collaboration agreement with Michigan Technological University (MTU). The partnership aims to develop innovative manufacturing and material processing technologies for incorporation into Revex’s planned operations. The basis for this agreement is a U.S. Department of Energy Grant that was awarded to Michigan Tech in November of 2022. MTEC SmartZone played a vital role in the grant application which resulted in the $8.1M sponsored research award for Michigan Tech involving synergized battery recycling and metal refining technology.
In parallel with the grant application process, MTEC SmartZone helped establish a new startup company: Revex Technologies Inc. as a domestic nickel and critical mineral processor and has been providing business startup and development services to Revex ever since.
“Revex was established to help address the demand for domestic critical mineral processing by leveraging established technologies, then integrating findings from the grant bestowed to MTU, thus enhancing its overall operational strategies”, said David Rowe, MTEC SmartZone CEO.
“Revex Technologies exemplifies MTEC’s leadership position in accelerating high-tech business growth and facilitating the transition of innovative technology and processes from the lab bench to industrial-scale applications. MTEC’s collaboration with Michigan Tech’s Office of Innovation and Commercialization on an ongoing basis continues to pay dividends for Michigan’s economy,” said Rowe.
“Revex is grateful for the help received by MTEC SmartZone since 2022, to position our company for commercial success utilizing sustainable technologies that will create domestic critical mineral solutions for energy transition”, said John Rockwell, CEO of Revex. “Michigan Tech’s research will have the potential to add additional benefits to Revex’s current processing solution.”
Revex is aggressively pursuing the launch of its Michigan-based critical mineral processing facilities, focusing on reclaimed mine waste and recycled batteries. By tapping into secondary and unconventional sources alongside recycling initiatives, Revex will help solidify Michigan’s position in the EV battery supply chain and establish an end-to-end, closed-loop solution from mining to vehicle to recycled materials.
The Li-ion battery and EV industry faces challenges in domestic critical mineral extraction and material availability. End-of-life lithium-ion batteries contain recyclable metals like nickel, lithium, and cobalt, allowing for their recovery and reducing the industry’s environmental footprint.
“We will utilize these waste materials to first create green nickel concentrate (and new byproducts) which will be further refined into class I nickel for the lithium-ion battery supply chain. It’s a circular solution that reduces the use of virgin material supply and integrates upstream extraction with midstream processing and downstream recovery and recycling”, said Rockwell. Revex plans to start construction in 2024 of its Michigan-based mine tailings waste reclamation facility and lithium-ion battery recovery plant.
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About MTEC
Houghton-based Michigan Tech Enterprise Corporation (MTEC) “MTEC SmartZone” is one of 21 SmartZone Incubators in the State of Michigan. MTEC is a 501(c)(3) non-profit organization working with the Michigan Economic Development Corporation (MEDC), its mission is to facilitate the creation and ongoing success of high-tech value propositions in conjunction with the local entrepreneurial ecosystem. Since 2003, the MTEC SmartZone has provided mentoring, technical support, and other services to local companies that have led to the creation of over 800 high-tech jobs in the Houghton and Hancock Michigan area. For more information about MTEC SmartZone and its initiatives, please visit www.mtecsz.com.
About Michigan Tech University
Michigan Technological University is a public research university founded in 1885 in Houghton, Michigan, and is home to more than 7,000 students from 55 countries around the world. Consistently ranked among the best universities in the country for return on investment, Michigan’s flagship technological university offers more than 120 undergraduate and graduate degree programs in science and technology, engineering, computing, forestry, business and economics, health professions, humanities, mathematics, social sciences, and the arts. The rural campus is situated just miles from Lake Superior in Michigan’s Upper Peninsula, offering year-round opportunities for outdoor adventure.
About Revex Technologies
Revex Technologies will be a leader in sustainable production of critical minerals, essential for the clean energy transition. Our proprietary processing capability, leveraging flexible feedstocks including mine ore concentrate, mine tailings (waste), and recovered Li-Ion battery materials addresses a domestic supply chain vulnerability by establishing a low-emission and scalable domestic solution for refining of critical minerals. We are partnering with the primary industry of mining to integrate midstream processing and upstream extraction. Revex is reshaping the critical minerals economy. For more information about Revex and its initiatives, please visit www.revextech.com.
About MEDC
The Michigan Economic Development Corporation, in collaboration with more than 100 economic development partners, markets Michigan as the place to do business, assists businesses in their growth strategies, and fosters the growth of vibrant communities across the state. MEDC’s Entrepreneurship & Innovation initiative establishes Michigan as the place to create and grow a business by providing high-tech start-up companies with access to a variety of critical resources, such as funding and expert counsel, from ideation to maturation. For more on MEDC Entrepreneurship & Innovation, visit michiganbusiness.org/entrepreneurship
Contact
MTEC SmartZone
906-487-7000
Media Mentions:
Keweenaw Report: http://www.keweenawreport.com/featured/revex-technologies-enters-into-collaborative-partnership-with-michigan-technological-university/