Battery element purification is on track to commence initial commercial production within the next 45 days
Initial production train will produce isolated and high-purity lithium, cobalt and nickel from recycled battery material
FISHERS, IN / ACCESSWIRE / October 6, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced that its majority-owned ReElement Technologies LLC division ("ReElement") has procured the necessary equipment for its initial battery element isolation and purification production train for the production of battery-grade materials (lithium, cobalt and nickel) at its critical minerals purification facility in Noblesville, Indiana.
Jeff Peterson, COO of ReElement Technologies commented, "We are excited to have received our designed and manufactured battery element production train equipment on time to our facility that we are commissioning for initial production. The United States battery manufacturing marketplace is looking for a commercially-viable solution for the separation and purification of battery-grade materials, and now that we have our initial production train in our facility, we can showcase our highly effective, efficient and highly-scalable technology at commercial scale for our customer base. We are initially focused on producing high-purity lithium carbonate or hydroxide from economically viable and commercially sustainable methods in the recycled market from domestic sources. We are confident that once we showcase our initial production, our patented technology will be the adopted and preferred processing solution for domestic battery materials as we have already proven for domestic magnet materials."
Over the course of the last two months, ReElement has been focused on designing and building its initial battery production train while also scaling its internal capabilities of preprocessing and post processing of material so that 100% of the recycling process can be completed internally. ReElement has brought in house 100% of its leaching process, which will increase its capacity by over 30 times its initial capacity with its university partners. Additionally, the Company has also been expanding its first REE magnet production line at its Noblesville, Indiana facility by over 50% which recently announced commercial scale success in achieving greater than 99.5% pure isolated rare-earth elements.
ReElement also continues the engineering and design of its larger scale critical minerals purification facility that has been previously announced and hopes to finalize site selection over the next 30 days. Simultaneously, the Company continues the design phase of its larger commercial facility with a stated capacity of approximately 50 metric ton a day of critical battery material production and 2 metric ton a day of rare earth magnet material production. In the current design, each PLC can handle up to 12 production lines in the larger facility enabling substantial and low-cost modular expansion over time based on customer and feedstock supply and demand.
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.
About ReElement Technologies LLC
ReElement Technologies LLC is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. ReElement Technologies has developed its innovative and scalable "Capture-Process-Purify" process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain's growing demand for magnet and battery metals. For more information visit reelementtech.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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