Rare Earth News

Rare earth elements sector offers more than just healthy markets

Rare earth elements (REEs) have seen success in the markets, but the alternative and highly pragmatic uses of REEs in various platforms keep the sector progressing, giving miners plenty to be thrilled about, RareMetal reports.

According to the news source, one new technology utilizing REE's is in the later stages of research and development, and when completed, will be used in the fast-growing solar energy industry.

New solar panels will contain a thin film that uses REEs in the energy conversion process, as they are more readily available and cheaper than other commercial materials. The technology is brand new and still patent-pending, and is expected to completely replace the typical semiconductor currently used in solar cells, the media outlet stated.

The technology was developed at the University of Nebraska in cooperation with NUtech Ventures, and organization which builds partnerships between the university and the private sector. The operation expects to employ 100 people, and will be set up in Beatrice, Nebraska, according to Silicon Prairie News.