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| EX-99.2 - PRESS RELEASE - American Resources Corp | arec_ex992.htm |
| 8-K - CURRENT REPORT - American Resources Corp | arec_8k.htm |
Exhibit 99.1
American Resources Corporation Announces Solar Installation to
Reduce Peak Demand Charges and Increase Efficiency at Perry County
Complex
Solar instillation bolsters Company’s environmental focus and
innovation while also reducing long-term cost
structure
December 15, 2020 | Source: American Resources
Corporation
FISHERS, INDIANA / ACCESSWIRE / December 15, 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
advancement to the geotechnical analysis stage of installing solar
and battery storage technologies at its Perry County Resources
(PCR) carbon mining complex located in Perry County, Kentucky. With
this planned installation, the Company anticipates reducing its
long-term electrical and operating costs throughout the complex by
reducing its peak utility demand, while also advancing the PCR
complex to a cleaner, more sustainable and next-generation mining
operation.
Mark Jensen, Chairman and CEO of American Resources Corporation
commented, “It’s time for the mining industry to
increase its innovation and adoption of more sustainable and
renewable practices. The legacy mentality has reduced the overall
competitiveness of the industry and we are extremely proud to take
the lead to better align the industry with a modern-day economy. We
are evaluating all of our operations to showcase that we can
produce high-quality raw material for the new infrastructure market
while also being cost focused and environmentally driven. To our
knowledge, Perry County Resources will be the first application
worldwide to use on-site solar to reduce utility demand charges at
a carbon mining complex. Our analysis to-date has shown that we can
reduce our total utility costs by over 20% over the long-term. We
are also continuing to evaluate other opportunities to utilize
solar, battery storage, and other technologies for off-grid power
solutions to reduce our costs and meet our environmental
goals.”
Like many of the industry’s carbon mining operations, the
Perry Country Resources complex was built during a time when
electrical efficiencies were less developed and less efficient.
With the advancement of solar and other renewable power
technologies, opportunities are now available for the Company to
allow for increased efficiencies and reduced costs at its
processing, logistics and industrial complexes. Over the past year,
American Resources has been working with Kentucky-based
Edelen
Renewables to evaluate and
initiate the preliminary phase of installing a solar array at its
PCR complex, and to advance a collaborative mission to bring new
job opportunities and economic diversification to this depressed
region of the country.
Adam
Edelen, Chief Executive Officer of Edelen Renewables, a leading
developer of solar technology in Central Appalachia stated,
“American Resources has not only shown an interest in doing
its part to innovate and modernize the mining industry, but has
taken the steps to actually move forward, which we have not seen
from producers of raw materials to-date. The level of innovation
the American Resources’ team has displayed in how and what
type of raw materials are produced, along with how they can
maximize productivity, manage costs and create long-term
sustainable jobs is above and beyond what we expected form a carbon
mining company. We are excited to move quickly to the next phase of
design and analysis at the Perry County operation and to continue
working with the team on other initiatives in the
future.”
With the completion of the preliminary phase-one assessment, the
Company is excited to advance and announce the second phase of
geotechnical studies to determine the specific size and location of
the solar array at the PCR complex. American Resources is looking
to combine solar and battery storage technologies to reduce the
demand and peak utility costs to produce and process the
Company’s metallurgical carbon alongside reprocessing
coal-based refuse for critical minerals and rare earth elements
while improving the environment. The Company has previously
announced
its environmental focus, with the goal
of reducing its long-term costs and meeting environmental
initiatives at its operations.
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 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.
About Edelen Renewables
Edelen Renewables is the only solar development firm in America
with a sole focus on socially impactful projects that provide the
triple-bottom line return of meeting the climate challenge, driving
economic transition in forgotten communities, and producing savings
for off-takers. Edelen Renewables works with coal companies
together with green energy advocates to develop reclaimed mine
sites and create employment for displaced coalminers to assisting a
homeless shelter become the first in America to
“go-solar” without public subsidy, creating win/wins
for every stakeholder. Edelen Renewables has partnered with several
of the largest national developers of utility-scale projects and
currently have a pipeline of ten projects in four states,
representing more than 1GW and more than $1B in capital investment.
For more information visit edelenrenewables.com
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