Chronicle Journal: Finance

Energy Fuels Inc. (TSX: EFR) (NYSE American: UUUU) Awarded Funds by DOE to Develop Design for REE Production

  • Company awarded government grant that could total $1.45 million to develop design for production of rare earth elements
  • UUUU excited to play role in effort to develop domestic sources of rare earth production
  • Energy Fuels announced entry into REE sector earlier this year, ideal complement to company’s other rare earth initiatives

Energy Fuels (TSX: EFR) (NYSE American: UUUU), a leading producer of uranium in the United States, along with a team from Penn State University has been awarded a government grant for an initial amount of $150,000 to develop a design for the production of rare earth elements (“REE”) from coal-based resources (https://ibn.fm/kMbwJ). The contract was awarded by the U.S. Department of Energy (“DOE”) Office of Fossil Energy (“FE”) and the National Energy Technology Laboratory (“NETL”). If Energy Fuels is successful at the conceptual design phase, the DOE could award Energy Fuels an additional $1.3 million to complete a feasibility study.

“We are excited to have the opportunity to work with the DOE office of Fossil Energy, the National Energy Technology Laboratory, and Penn State on this important rare earth initiative,” said Energy Fuels president and…

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NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU

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