New Company aims to extract Rare Earth Metals from Coal Fly Ash

Neumann Systems Group has another plan to make coal-fired power plants more environmentally friendly.
In the end, that plan could equal 250 high-tech jobs, $400 million in construction projects and $150 million in sales.

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Neumann created NeuMetals earlier this year, with the goal of extracting rare earth metals from fly ash, the leftovers of coal-fired power plants. The technology is similar to that of the NeuStream, already operating at the Martin Drake Power Plant, which could be closed as the result of a study due out in mid-2013.

Neumann has filed three patents for the process, which he says has the additional benefit of using carbon dioxide from the power plants to extract the metals. The 14 metals that can be extracted include neodymium, europium and yttrium, all critical elements to high-tech companies.

“We’ve had great success extracting the metals from the fly ash,” he said. “Overall, we can remove about 60 percent of the metals, some of them we can remove 100 percent of.”

The big payoff won’t come immediately. Neumann plans to start the project as he did the NeuStream, about 1/20th of its eventual size. By year two, he’ll start construction on a 100,000 square-foot facility.
And it will pay for itself, he says. But he’ll start with a $10 million grant from the Department of Energy, already applied for, and money from venture capitalists.

Source: Business Journal to continue reading the full article click here

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