San Jose, California-based Green Technology Solutions Inc., a clean energy and green technology company, announced on July 28, 2011, that it completed a financing agreement for $3.25 million to help develop projects dealing with rare earth minerals and decrease reliance on China for these minerals.
China currently generates more than 90 percent of the earth’s rare earth minerals, so many companies outside of China worry that the country’s more stringent export practices will reduce the availability of these minerals worldwide and cause prices to escalate. Green Technology Solutions Inc.’s efforts to develop fresh rare earth mineral sources, which are used to manufacture many clean energy technologies, are now concentrated on Mongolia.
In fact, Green Technology Solutions Inc. already has plans to assess and advance opportunities for the commercial manufacturing of rare earth minerals to use for clean energy initiatives on 17,000 acres in Mongolia.
“We are currently focused on the evaluation of promising prospects for rare earth minerals in Mongolia as well as other target-rich locations,” said John Shearer, CEO of Green Technology Solutions Inc. “This funding will allow us to move aggressively to lock in opportunities as they mature.”
Rare earth minerals research important for not only clean energy but also other industries
Rare earth minerals are economically vital minerals that can be found in contemporary green technology and clean energy items such as solar panels, batteries for electric cars and wind energy turbines. Development of such projects is critical to the United State’s economic success in the global green technology and clean energy industry.
Research into the use of rare earth minerals additionally is vital for the battery and magnet industries as well as the industries that produce advanced technologies such as the cell phone and even the tablet computer.
“Rare earth minerals are critical to critical modern technologies,” Shearer said. “With $3.25 million in available financing, we can breathe easier as we tackle the exciting projects we’ve sunk our hands into.”
About U.S. Green Technology
U.S. Green Technology was established in January of 2009. U.S. Green Technology‘s mission is to share news and information about the latest advancements in green technologies and green jobs. U.S. Green Technology‘s areas of coverage include providing information on green social media campaigns, changes in green business, spread of the green movement throughout entertainment, green technological invention, new green start-ups, green manufacturing, green building, and green jobs. U.S. Green Technology recently launched a new free business directory for companies to promote their products and services. U.S. Green Technology also offers a green jobs board, powered by Simply Hired, for employers to post green jobs for job seekers interested in careers in the green industries such as clean energy, information technology, green building and green transportation.
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