Attached files
Exhibit 99.1
American Resources, wholly
owned subsidiary, American Rare Earth LLC Enters into Joint Venture to Develop and
Commercialize Critical Element and Graphene
Technologies
Joint venture partners with Gerardine
Botte, Ph.D., Texas Tech University Professor and Department
Chair to develop and commercialize technologies production
from carbon-based deposits
Dr. Botte is Professor and
Whitacre
Department Chair in Chemical Engineering at Texas Tech
University and is a
recognized visionary in Electrochemical Science
Dr. Botte appointed to the American Resources Board of Directors
and will advise and help to expand the Company’s current
suite of environmentally positive production methods of Rare Earth
and Critical Element Division
November 24, 2020 | Source: American Resources
Corporation
FISHERS, INDIANA / ACCESSWIRE / November 24, 2020
/ American Resources
Corporation (NASDAQ:AREC)
(“American Resources” or the “Company”), a
next generation and socially responsible supplier of raw materials
to the new infrastructure marketplace, today announced its
subsidiary, American Rare Earth LLC, has entered into a joint
venture with Gerardine Botte, Ph.D., a Texas Tech University
Professor and the Whitacre Department Chair in Chemical Engineering
to develop and commercialize technologies for critical elements and
graphene production from carbon-based deposits under the newly
established and jointly controlled limited liability company,
Advanced Carbon Materials LLC (“ACM”). Additionally,
the Company has appointment Gerardine (Gerri) Botte, Ph.D.to its
Board of Directors as an Independent Director.
ACM is a newly formed company in partnership between the
Company’s wholly owned subsidiary, American Rare Earth LLC,
and Dr. Botte, whereby ACM will focus on developing new
technologies for both critical elements (rare earth elements) and
graphene production to bring domestic production to the
electrification marketplace, including the needs of the Department
of Energy, Department of Defense and electric vehicle production.
Dr. Botte’s extensive work in advanced water treatment ACM
will look to license existing technologies in both segments as well
as develop new technologies in partnership with Dr. Botte. American
Rare Earth LLC will own a 49% equity interest and 95% revenue
interest in the new LLC.
Mark Jensen, Chairman and CEO of American Resources Corporation
commented, “We couldn’t be more excited to welcome
Gerri as a member to our Board of Directors. Gerri brings a wealth
of knowledge and experience to our Company that will undoubtedly
help steer American Resources and its more forward-thinking
initiatives. Gerri will be instrumental in working with all of our
technology partners in directing our Critical Element and Rare
Earth division on a path of innovation and growth as well as
assessing prospective opportunities in graphene and battery
production. Gerri’s extensive work in advanced water
treatment will be integral in our environmentally beneficial,
hydro-based, rare earth collection as well as ensuring that our
critical element processing methods discharge water in the most
environmentally sensitive way. Her energy, spirit and knowledge fit
extremely well with the goals of our team and the direction of our
Company.”
Dr. Botte has over 21 years of experience in the development of
electrochemical processes and advanced water treatment. She has
served in leadership roles for the Electrochemical Society and is
currently the Chair of the Electrochemical Process Engineering and
Technology Division of the International Society of
Electrochemistry. Dr. Botte also serves as the Editor in Chief of
the Journal of Applied Electrochemistry. In 2014, she was named a
Fellow of the Electrochemical Society for her contributions and
innovation in electrochemical processes and engineering. She became
a Chapter Fellow of the National Academy of Inventors in 2012. In
2010, she was named a Fellow of the World Technology Network for
her contributions on the development of sustainable and
environmental technologies. Prior to Texas Tech, Dr. Botte was
University Distinguished Professor and Russ Professor of Chemical
and Biomolecular Engineering at Ohio University, the founder and
Director of Ohio University’s Center for Electrochemical
Engineering Research, and the founder and Director of the
Consortium for Electrochemical Processes and Technology – an
Industry University Cooperative Research Center. Her
entrepreneurial spirit has led to the commercialization of various
technologies and has founded and co-founded various companies to
help achieve this goal.
Dr.
Botte added, “I am pleased to
join the board of directors of American Resources. The
Company’s innovative management team with its willingness to
think outside the box, is leading the industry forward on a path of
prosperity, while ensuring it stays focused on safety and
efficiency. It’s a very exciting time in the Company’s
history and I am confident we can effectively drive both its
organic growth and innovation in commercializing its American Rare
Earth initiatives.”
In addition to the work being conducted in conjunction with Dr.
Botte, Advanced Carbon Materials LLC will work to secure other
patents, technologies, and licenses in the fields of extraction,
processing, and commercialization of critical elements, rare earth
elements, and graphene production with other research institutions
as the company progresses to become a leader in the critical
element production space.
American
Resources Corporation is focused on running a streamlined and
efficient operation to economically deliver raw materials products
to meet its customers’ demands. 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 while being able to scale
its operations to meet the growth of the markets it
serves.
For more information on Dr. Gerardine Botte visit:
https://www.depts.ttu.edu/provost/facultybios/19-20/Gerardine-Botte.php
About American Resources Corporation
American Resources Corporation is a supplier of high-quality raw
materials to the rapidly growing global infrastructure market. The
Company is focused on the extraction and processing of
metallurgical carbon, an essential ingredient used in steelmaking.
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 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 market 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
Company Contact:
Mark
LaVerghetta
317-855-9926
ext. 0
Vice
President of Corporate Finance and Communications
investor@americanresourcescorp.com
Source:
American Resources Corporation