NATICK, Mass., Sept. 23, 2016 /PRNewswire/ -- INFINIUM announced today that it has received a competitive award from the U.S. Department of Defense's Defense Logistics Agency to provide dysprosium-iron metal for the National Defense Stockpile as mandated by Congress in the Fiscal Year 2014 National Defense Authorization Act.
As the only commercial producer of rare earth metal in the western world, INFINIUM's innovative clean technology process for producing this high priority and strategic rare earth element will help obviate the Defense Department's reliance on foreign sources of critical materials. "We are thrilled to be entrusted by the Department of Defense to supply the National Defense Stockpile with their only domestically manufactured rare earth material. Our clean metal processing capability represents the only commercial production of rare earth material in the United States today, and we look forward to growing our partnership with the Defense Department," said Steve Derezinski, CEO of Infinium.
China currently mines, processes, and separates more than 90 percent of all rare earth elements utilized worldwide. INFINIUM is able to provide the United States with a domestic source of dysprosium metal, an alternative to Chinese-produced material. Additionally, INFINIUM's separation process utilizes clean technology as opposed to more traditional metal making techniques used in China that have led to extensive health and safety concerns, environmental degradation and pollution.
INFINIUM fills a critical gap in the rare earth supply chain by providing a clean, domestic source of metal that will help meet the nation's defense mission needs. Dysprosium is critical for the production of powerful magnets that are able to perform at high temperatures and contribute to almost every major defense system including advanced fighter aircraft, naval vessels, and ground equipment. Rare earth magnets are also ubiquitous in the clean energy sector enabling wind turbines and electric vehicles to operate with greater efficiency.
INFINIUM is a state-of-the-art metals production technology company, founded in 2008 and headquartered in the Boston area. INFINIUM's demonstrated success producing energy-efficient, clean metals domestically is reinvigorating U.S. clean technology metals manufacturing.
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SOURCE INFINIUM, Inc.