Success of technology leads to expansion of partnership with Purdue University to refine rare earth element purification technology for various feedstocks
Company is building an aftermarket supply chain to source permanent magnets and lithium-ion batteries to be recycled for rare earth elements
FISHERS, IN / ACCESSWIRE / May 6, 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 their decision to significantly expand their existing sponsored research program with Purdue University ("Purdue") specific to the purification of critical and rare earth elements ("REE"). In conjunction with its previously announced acquisition of certain licenses associated with the separation and purification of REEs using ligand assisted displacement ("LAD") chromatography, the Company entered into an initial sponsored research program with Purdue to refine the Purdue-developed process and technology specific to the recycling of permanent magnets for its REEs. Given the early success of its sponsored research program, American Resources has entered into an expanded agreement to further refine the LAD chromatography process and technology to also include the recycling, reprocessing and purification of critical and REEs from lithium-ion batteries and coal waste and byproducts.
Mark Jensen, CEO of American Resources Corporation commented, "Purdue has been a fantastic, innovative and commercially-driven partner to work with. The rare earth element purification technology that we are commercializing is extremely exciting, and we are both on the same page in terms of getting it to the market as efficiently as possible. Given the early success of our existing research program, it made sense to expand the program in short order to include the feedstocks that we are most focused on, such as lithium-ion batteries and coal-based waste and byproducts. Collectively, our process chain of technology and feedstocks enables us to help restore the domestic supply chain of these critical materials in the most sustainable and environmentally friendly and beneficial ways ever developed. We believe this is where the U.S. needs to be to drive innovation and compete with China in this market. The team at Purdue is an important part of this and we look forward to pushing aggressively forward with commercialization of the technology and showcasing the low cost and environmentally sensitive technology."
Furthermore, American Resources begun staffing up to develop a supply chain and aftermarket for certain end-of-life products with several partners to source waste permanent magnets and lithium-ion batteries specific to this portion of its feedstocks and REE "Capture - Process - Purify" process chain. These end-of-life products would include: electric / hybrid vehicles such as the Toyota Prius, e-bikes, wind turbines, NMR machines, MRI machines and certain industrial motors.
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