$911,519 grant awarded for cutting-edge equipment for the recycling of rare earth magnets and battery materials
Indiana's Recycling Market Development Program awards grants to innovative projects in the recycling sector
Electrified Materials Corporation will expand its preprocessing of end-of-life rare earth magnets, lithium-ion batteries and ferrous metals, ensuring a sustainable domestic supply chain for copper, aluminum, steel, plastic and critical minerals
FISHERS, IN / ACCESS Newswire / March 10, 2025 / American Resources Corporation's (NASDAQ: AREC) ("American Resources") announced that its wholly-owned subsidiary, Electrified Materials Corp ("Electrified Materials" or "EMCO"), has been awarded a $911,519 matching grant under the Indiana Department of Environmental Management's Waste Diversion Project. This initiative aims benefit Indiana's economy by expanding recycling infrastructure for recycling, creating jobs, and addressing supply chain challenges.
Electrified Materials is a cutting-edge recycler of metals to the electrified economy specializing in processing used metals and minerals to be recycled and further refined into new steel-based, battery-grade and magnet-grade products. Today, EMCO operates within the U.S. with its origins in reclaiming former thermal coal mines and industrial sites. By leveraging its regional logistics and infrastructure, along with its affiliation with ReElement Technologies Corporation ("ReElement"), a leader in critical minerals refining, EMCO aims to expand its footprint in the high-growth markets of used steel, rare-earth elements and critical battery materials. Additionally, EMCO remains committed to cleaning up old infrastructure left behind from the declining mining industry. Through its affiliation and collaboration with ReElement, EMCO will preprocess end-of-life waste containing critical minerals, such as wind turbines, EV motors, lithium-ion batteries, consumer power tools and e-waste, before supplying these concentrates to ReElement for further refinement into manufacturing-grade final products, ready to reenter the supply chain.
Mark Jensen, Chairman and CEO of American Resources Corporation commented, "As a proud Hoosier, we are excited to collaborate with State of Indiana and our Department of Energy to drive innovation in the rare earth and battery materials marketplace. We commend Indiana's Department of Energy for recognizing the importance of recycling in building a sustainable and resilient supply chain of critical minerals for national security. The leadership demonstrated by Indiana's Secretary of Energy, Suzanne Jaworoski, and her team is a true testament to effective public leadership. Our team is working relentlessly to address the needs of our defense industry, semiconductor manufacturers, magnets producers and auto OEMs, and Indiana has the potential to be at the forefront of this mission. This grant will play a key role in advancing the recycling technology necessary to innovate and efficiently meet the growing market demand."
As previously announced, EMCO has formed a tri-party joint venture with Lohum Cleantech Ltd., India's largest producer of sustainable critical minerals, and ReElement Technologies to develop circular magnet-grade & battery-grade mineral processing technology. Additionally, the company is actively engaged in discussions with several other domestic and international partners committed to cost-effectively strengthening the supply chain and advancing energy and critical mineral independence.
About American Resources Corporation
American Resources Corporation (NASDAQ: AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The American Resources 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 American Resources on Facebook, Twitter, and LinkedIn.
About Electrified Materials Corporation
Electrified Materials Corporation ("EMCO") was formed by, and is a wholly-owned subsidiary of, American Resources Corp (Nasdaq: AREC). EMCO is a cutting-edge recycler of metals for the electrified economy. It controls the preprocessing of both end of life magnets, batteries and ferrous metals that enables EMCO to ensure a domestic supply chain for copper, aluminum, steel, plastic as well as rare earth and battery elements through its refining partnership with ReElement Technologies Corp.
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.
Investor Contact:
JTC Team, LLC
Jenene Thomas
(908) 824 - 0775
arec@jtcir.com
Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
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