Release - Energy Fuels Announces Strategic Venture with Nanoscale Powders to Develop Innovative Rare Earth Metal-Making Technology

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") is pleased to announce the execution of a Memorandum of Understanding ("MOU") with Nanoscale Powders LLC ("NSP") for the development of a novel technology (the "Technology") for the production of rare earth element ("REE") metals (the "Project"). We believe this Technology, which was initially developed by NSP, and will be advanced by the Company and NSP working together, has the potential to revolutionize the rare earth metal making industry by reducing costs of production, reducing energy consumption, and significantly reducing greenhouse gas ("GHG") emissions. Producing REE metals and alloys ("REE Metals") is a key step in a fully integrated REE supply chain, after production of separated REE oxides ("REE Oxides") and before the manufacture of neodymium iron boron ("NdFeB") magnets used in electric vehicles ("EVs"), wind generation and other clean energy and advanced technologies. Read More >>