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EX-99.3 - PRESS RELEASE DATED MARCH 18, 2021 - American Resources Corp | arc_ex993.htm |
EX-99.1 - PRESS RELEASE DATED MARCH 15, 2021 - American Resources Corp | arc_ex991.htm |
8-K - CURRENT REPORT - American Resources Corp | arc_8k.htm |
Exhibit 99.2
American Resources Corporation to Build 2kW Mobile Electrolytic
Cell Rare Earth Processing Plant
Facility represents the advancement to commercialization for
Company’s rare earth element processing facility utilizing
electrolysis technology
Interviewing potential project managers and securing office space
to design and build facility currently underway
March 17, 2021 | Source: American Resources
Corporation
FISHERS, INDIANA / ACCESSWIRE / March 17, 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 that it is moving forward with the commercialization of
its rare earth element (“REE”) technology process chain
with building of a 2kW rare earth processing electrolysis facility
utilizing the previously
announced acquired technology
and patents from Ohio University in addition to its partnership
with sponsored research programs and Dr. Gerardine
Botte.
This facility represents a novel approach for the revalorization of
coal, coal waste, and coal byproducts such as fly ash,
utilizing Coal Electrolytic Cell (CEC)
technology for the production of REE concentrate, carbon, purified
fly ash and hydrogen. The design is based on successful analysis
utilizing electrolysis of fly ash that was from a representative
Ohio facility with particle size less < 75lm leading to the
production of hydrogen in the cathode of the cell and the
extraction of 65% Yttrium (Y), 59% Dysprosium (Dy), and 76%
Ytterbium (Yb).
Dr. Botte comments, “The analysis to date is proof-of-concept
indicating that the proposed approach will be a paradigm change to
revalorize coal, fly ash and coal by-products, minimize waste, and
enable sustainability goals by cleaning up and reprocessing coal
fly ash waste producing green infrastructure and energy product
feedstocks. This technology is unique when applied to fly ash given
its ability to separate the rare earth elements by breaking the
bond created with the unburned carbon during the combustion stage
allowing for the production of rare earth concentrates and other
monetizable byproducts. This facility represents the immediate step
to commercialize this technology and to showcase a low-cost
structure and value-added products that can be produced from
environmental waste feedstocks.”
The design of the initial facility has a total capex of less than
$1.0 million and is in the form of a mobile application that can be
transported from internal and external sites to process and
evaluate the specific fly ash and coal-based feedstocks at each
location. The facility will enable the Company to determine the
specific economics of each feedstock site and the revenues that
will be generated from the critical and rare earth elements, the
fly ash-to-concrete market, and the recovered carbon and the
hydrogen generated during the process. Upon determination of each
site’s economics, the Company will potentially build a local
processing facility at certain sites to further expand the revenue
base. The Company is in discussions with a number of external sites
that have legacy landfills that can be reprocessed to clean up the
environment and act as additional feedstocks to the Company’s
internal carbon-based feedstocks.
Mark Jensen, CEO of American Resources Corporation added,
“Having signed this contract less than a quarter ago to
finalize the acquisition of the patented technology rights, and now
today being able to announce our progress to move forward with the
build of the first facility, showcases our desire to move rapidly
on the commercialization process. The electrolysis stage of our
‘Capture – Process – Purify’ technology
process chain is a game changer when it comes to producing low-cost
environmentally safe REE concentrate. What makes it unique is that
we can sustainably reprocess and recycling coal waste, coal
byproducts and fly ash to produce REE concentrate but also produce
revenue-generating byproducts during the process itself, further
lowering our cost structure during the process. With this
technology, combined with our chromatography technology, we are
confident that we have the processes, assets, technology and team
to help restore and redefine the domestic supply chain of critical
and REEs providing a real cost effective and environmentally safer
solution for the US economy and national
security.”
The Company is currently interviewing an impressive list of project
managers that understand the technology and will lead the build
phase alongside Dr. Botte and our sponsored research programs. The
facility is expected to be built over the next six months with the
goal of deploying into the field in the third / fourth quarter of
2021. The Company will provide transparency on each phase of the
build process as it achieves specific milestones with the goal of
making significant progress on the build in the second quarter of
this year.
The specific electrolysis technology which was previously announced
and licensed with exclusive domestic rights, and the exclusive
option on international rights was developed by Dr. Gerardine
Botte, the current Whitacre
Department Chair in Chemical Engineering at Texas Tech
University, board
member of American Resources Corporation and Chief Technical
Officer of Advanced Carbon Materials, a subsidiary of American
Resources Corporation. Dr. Botte developed and patented these
technologies when she served as Ohio University’s
Distinguished Professor
and Russ Professor of Chemical and Biomolecular
Engineering.
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