First commercial scale success in the United States for rare earth and battery element separation and purification
Company's first commercial facility is 1000x larger than previous bench scale facility with significant opportunity for low cost expansion
Facility utilizes proprietary and patented chromatographic separation and purification process; the most efficient and environmentally safe method ever developed
FISHERS, IN / ACCESSWIRE / August 1, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced that its majority-owned ReElement Technologies division has achieved groundbreaking success in producing greater than 99.5% pure isolated dysprosium (Dy), neodymium (Nd) and praseodymium (Pr) / neodymium (Nd) rare earth elements from its first commercial scale rare earth and battery element isolation and purification facility located in Noblesville, IN. The success of achieving ultra-high purity levels of these REEs comes from the facility's first commercial run through its state-of-the-art LAD displacement chromatography production train.
Mark Jensen, CEO of American Resources Corporation commented, "We have stated from day one that not only would we be first in the U.S. to commercially produce separated and ultra-high purity rare earth elements, but we would also do so in an economically-viable process utilizing unprecedented environmentally-safe methods. We are thrilled today that we can share our results with the world from our first commercial production through our first-of-its-kind chromatography facility. Our initial production we believe showcases that chromatography, in the isolation and purification of rare earth and critical elements, when used at commercial scale actually produces better results than when in the lab. Today we can say we have significantly exceeded our initial anticipated results in producing isolated and greater than 99.5% pure rare earth elements. Furthermore, by using end-of-life magnets as our initial feedstock to recycle for their constituent elements, we are also addressing our sustainability needs and bringing the circular economy for these elements online. Today we are focused on optimizing and planning for our aggressive expansion of battery and magnet elements for the domestic market over the next twelve months. Lastly, I'd like to applaud our team and partners, especially our technology partners at Purdue University and CMID, Inc. in achieving this monumental success."
With the commencement of its first commercial production runs, American Resources is redefining how REEs are sourced and processed. The Company believes that with its proven efficiency, flexibility and environmentally safe nature, chromatographic separation and purification will replace the existing environmentally and socially toxic alternatives used around the globe for rare earth and critical element isolation and purification and significantly reduce the United States' dependency on foreign nations for the supply of these critical raw materials.
ReElement division will continue to operate its magnet REE production train through its optimization plan while it moves to expand its full production. The company is also working with customer third party labs to provide such analysis as part of our sales process with domestic and international customers. Ultimately, the Company's chromatography technology, given its low cost and low capex model, can be operated in a continuous process in multiple facilities throughout the United States to maximize throughput and maintain an extremely low-cost structure while minimizing logistics and its carbon footprint. Additionally, the Company's battery material production train is expected to be operational in the fourth quarter of this year and will use a slightly modified and patented multi-mode chromatography process to recycle the constituent battery elements back battery-grade purity on an isolated basis.
For more information on American Resources' ReElement Technologies division, visit its new website here.
American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.
About American Resources Corporation
American Resources Corporation is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure and electrification markets while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
About ReElement Technologies LLC
ReElement Technologies LLC is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. American Rare Earth has developed its innovative and scalable "Capture-Process-Purify" process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit reelementtech.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
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SOURCE: American Resources Corporation