Facility represents the advancement to commercialization for Company's rare earth element processing facility utilizing electrolysis technology
Project manager will utilize office space at Texas Tech University's Innovation Hub and will work in conjunction with the Company's sponsored research program at Texas Tech
FISHERS, IN / ACCESSWIRE / May 11, 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 the Company has secured a project manager to oversee the build phase and implementation of its previously announced 2kW mobile electrolytic cell rare earth element (REE) processing plant. This represents the another step forward in the commercialization of its previously announced acquired technology and patents from Ohio University in addition to its partnership with Texas Tech University and sponsored research programs alongside the leadership of Dr. Gerardine Botte, Professor and the Whitacre Department Chair in Chemical Engineering at Texas Tech University.
To bolster the Company's technology and operating wherewithal, American Resources also entered into a sponsored research program with Texas Tech regarding the implementation and cell development of its electrolysis facility. The sponsored research program is focused on not only building an electrolysis facility, but also maximize the scalability and efficiency of the REE electrolysis processing facility. The sponsored research program is currently focused on cell development and expanding the size of the electrolytic cells to approximately one cubic meter, which will enable operating scalability and functionality of feedstocks. As part of its expansion, American Resources has also secured office space in Lubbock, Texas at the Texas Tech University Innovation Hub at Research Park, which is a facility that nurtures smart ideas and entrepreneurs to create a social or commercial value resulting in impact. The project manager will work directly with Dr. Botte at the Innovation Hub and work in conjunction with the Company's sponsored research program at Texas Tech.
Mark Jensen, CEO of American Resources Corporation commented, "We are excited to have secured a great project manager to oversee the buildout and implementation of our mobile REE electrolysis processing facility and advance our sponsored research program with Texas Tech University. Our project manager has a lot of familiarity and experience with working with Dr. Botte and her team. Over the last five years he has had very relevant experience in Colombia working on two small chemical engineering scale facilities and one commercial facility. Additionally, procuring office space at Texas Tech's Innovation Hub was obviously important for us to create a strong work flow as we remain committed to being efficient and effective in driving this ground-breaking technology, and its application with REEs to commercialization. We are excited to complete this stage and now turn to further execution of building our mobile facility to begin full scale expansion and development of fly ash sites in the United States."
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 specific phases and milestones of the build and analysis process in conjunction with the Company's sponsored research and its fly ash sampling programs.
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.
PR Contact
Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
arec@jtcir.com
RedChip Companies Inc.
Todd McKnight
1-800-RED-CHIP (733-2447)
Info@redchip.com
Company Contact:
Mark LaVerghetta
Vice President of Corporate Finance and Communications
317-855-9926 ext. 0
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
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