- Company Is Underway in Sampling Multiple Fly Ash Deposits Spanning Multiple Basins To Extract Critical and Rare Earth Elements in Conjunction With Its Electrolysis Technology
- The Program Represents the Company's Approach to Revalorize Coal Waste and Byproducts While Creating a Model To Monetize the Process
FISHERS, IN / ACCESSWIRE / April 27, 2021 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of raw materials to the new infrastructure and electrification marketplace, today announced progress with its fly ash sampling program. In conjunction with its previously announced 2kW mobile electrolytic cell rare earth element (REE) processing plant, the Company has been working with various parties which control large deposits of fly ash. Since announcing its REE "Capture - Process - Purify" process chain, the Company has had numerous inquiries from such parties looking for viable solutions to their fly ash deposits that is typically stockpiled as environmental hazards due to remaining carbon content.
Mark Jensen, CEO of American Resources Corporation commented, "Our ability to recycle and reprocess fly ash through our electrolysis technology is something that we are extremely excited about. When building a commercialization model we have to focus on cost and scalability. Including fly ash as a feedstock into our REE process chain is something that we believe differentiates us in that it allows us to monetize most, if not all, of its byproducts which keeps our cost structure low, while also addressing and cleaning up environmental issues left behind by the fossil fuel industry. We preach a solution driven approach when looking at worldwide problems and opportunities. The technology chain we put together are very complimentary and are all tracking to be scalable and low cost when it comes to each product we will look to monetize in the process. We look forward to working with all of our partners in the fly ash sampling program to see how we can work together to drive innovation and bring real solutions to a variety of issues in electrification and infrastructure feedstocks."
American Rare Earth is currently collecting, analyzing and running samples from the Central Appalachian basin, Illinois Basin, Northern Appalachian basin, Powder River Basin and Canada. The Company expects to continue to expand its footprints and site locations in anticipation of the previously announced constructed and deployment of its mobile facility.
American Resources' electrolytic cell REE processing facility represents a novel approach for the revalorization of coal, coal waste, and coal byproducts such as fly ash, utilizing Coal Electrolytic Cell (CEC) technology for the production of REE concentrate, carbon, purified fly ash and hydrogen. The design is based on successful analysis utilizing electrolysis of fly ash that was from a representative Ohio facility with particle size less < 75μm. The Company is initially targeting fly ash deposits rich in REEs such as Dysprosium (Dy), Neodymium (Nd), Praseodymium (Pr), etc.
The specific electrolysis technology was licensed with exclusive domestic rights, and the exclusive option on international rights was developed by Dr. Gerardine Botte, the current Whitacre Department Chair in Chemical Engineering at Texas Tech University, board member of American Resources Corporation and Chief Technical Officer of Advanced Carbon Materials, a subsidiary of American Resources Corporation. Dr. Botte developed and patented these technologies when she served as Ohio University's Distinguished Professor and Russ Professor of Chemical and Biomolecular Engineering.
American Resources is currently finalizing details on its project manager to lead the buildout phase and work alongside Dr. Botte and the Company's sponsored research programs. The facility is expected to be built over the next six months with the goal of deploying into the field in the fourth quarter of 2021. The Company will provide transparency on each phase of the build process and as it achieves specific milestones.
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. 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.
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