Blaschak Coal Corp Receives $25,000 Investment
Investment Supports Development of Process to Extract Rare Earth Elements from Anthracite Mine Water Sources
MAHANOY CITY, PA (June 6, 2018) – Blaschak Coal Corp is proud to announce it is the recipient of a $25,000 investment from the Ben Franklin Technology Partners of Northeastern Pennsylvania. The funds will support the development of a process to efficiently extract Rare Earth Elements (REE) from anthracite mine water sources, in partnership with Lehigh University’s Energy Research Center. Blaschak received a $25,000 investment from the organization in 2017, as well.
REEs have a wide variety of applications in electronic, optical and magnetic devices. Currently, China produces the majority of REEs, resulting in great demand for domestic suppliers.
“We are proud to be the recipients of this investment to help bring our research to the next level,” said Greg Driscoll, President and CEO of Blaschak Coal Corp. “We are eager to move forward with developing an REE extraction process alongside Lehigh University’s Energy Research Center.”
The investment from Ben Franklin Technology Partners of Northeastern Pennsylvania is part of a larger $695,000 commitment to support economic development in the region. The goals of the larger effort are to help develop and grow early-stage technology-oriented companies, help established manufacturers creatively apply new technology and business practices, and promote innovative community-wide infrastructure that fosters a favorable business environment. The full list of investment recipients can be found here.
About Blaschak Coal Corp.
Blaschak Coal Corp. (www.blaschakcoal.com) is a miner, preparer and marketer of Pennsylvania anthracite. Blaschak is a market leader and one of the few fully integrated U.S. anthracite companies with a large reserve base, multiple mines and preparation plants, a bagging plant, both rail and truck loading facilities, and extensive marketing operations serving a wide range of end markets, including home heating, steel and water filtration.
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