The U.S. National Science Foundation has selected the Critical Materials Crossroads consortium as one of its Regional Innovation Engines, making it eligible for up to $160 million in funding over ten years, according to a press release from American Resources Corporation (NASDAQ: AREC).

The consortium is led by the University of Missouri-Kansas City and includes ReElement Technologies Corporation, a minority holding of American Resources, as an industry partner. ReElement will contribute refining and separation expertise, production capabilities, and industry relationships to support research, workforce development, and commercialization efforts aimed at domestic critical mineral supply chains.

"The Critical Materials Crossroads initiative brings together the research, industrial, commercial and government partners needed to strengthen America's domestic critical mineral supply chain," said Kirk Taylor, Chief Financial Officer of ReElement Technologies.

The consortium has stated goals of delivering $40 billion in total economic impact within ten years, increasing the state's gross domestic product by $17 billion annually, creating 10,000 jobs, and attracting more than $2 billion in public-private investment.

The selection follows other recent funding actions involving ReElement and American Resources, including a $25 million Industrial Base Fund investment from the U.S. Department of War and a separate selection by the U.S. Department of Energy for award negotiations related to domestic critical mineral recovery.