MTEC SMARTZONE CLIENT SELECTED FOR AWARD NEGOTIATIONS UP TO $195M IN GRANT FUNDING

HOUGHTON, MI – September 20, 2024 –

MTEC SmartZone is proud to announce that their client, Revex Technologies, has been selected for award negotiations up to $145 million grant from the Department of Energy’s Office of Manufacturing and Energy Supply Chains (MESC) and $50 million in grant cost-share funding from the Make it in Michigan Competitiveness Fund (MIIMCF). This is a major milestone for Revex and the culmination of over two years of dedicated efforts by the MTEC SmartZone team in support of Revex.

“The impact Revex Technologies will have on the sustainable reshoring, and responsible processing of critical metals needed for the nation’s clean energy transition will be enormous,” says David Rowe. CEO of MTEC SmartZone. “MTEC SmartZone worked diligently for over two years to help establish Revex Technologies including helping Michigan Technological University secure an $8.1 million Department of Energy grant to further related technology. Countless hours of work were invested in support of Revex Technologies’ grant application to the DoE.”

Patrick Visser, CCO of MTEC SmartZone, played a crucial role in the application process, he devoted significant time to setting Revex up for success. “Revex receiving this grant from the DOE is tremendous for the community,” added Patrick. “This project not only fosters a strong partnership among Eagle Mine, Michigan Technological University, and Revex Technologies but also promises significant economic benefits and job creation for the Upper Peninsula of Michigan and beyond.”

This grant will be used to support Revex’s REV Nickel Project, a project that supports a partnership between Revex and Eagle Mine, owned and operated by Lundin Mining of Canada and the only operating nickel mine in the United States, to produce Green Nickel Concentrate and other valuable U.S.-sourced critical minerals from metal-bearing waste streams, including discarded mine tailings and spent lithium-ion batteries.

The project is expected to add 115 new clean tech jobs and support 360 construction jobs over the 2-year construction period, bringing economic and social equity to a region that contains Justice 40, 48C energy community, and disadvantaged qualifying census tracts. The REV Nickel project will be a vital economic anchor in a rural and historically mining-based economy and is committed to creating impactful and durable community and stakeholder benefits.  

“Obtaining this funding would not have been possible without the dedicated support from the team at MTEC SmartZone,” stated John Rockwell, CEO of Revex Technologies. “Michigan has seen amazing startup successes from small satellite thrusters to software security, but the Revex project is unique in its immediate impact of job creation and retention, technological innovation, and a strong focus on sustainable reshoring of critical minerals”.

For more information about Revex Technologies and their REV Nickel project, please visit their website at: www.RevexTech.com.

Read Revex’s full press release – here

Read the full list of selected projects from the DOE – here

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About MTEC

Michigan Tech Enterprise Corporation (MTEC) 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.

About REVEX TECHNOLOGIES REVEX will be a leader in the sustainable processing and production of green nickel concentrate and other critical minerals essential for the clean energy transition. By reclaiming and recycling various waste feedstocks including spent lithium-ion batteries, manufacturing scrap, and discarded mine tailings REVEX is poised to address the increasing demand for domestic supply of battery-quality nickel, lithium, and cobalt. Revex is vertically integrating upstream extraction, midstream processing, and downstream recycling to advance circular solutions that benefit communities. Revex is reshaping the critical minerals economy!