American Resources Corporation and Novusterra Inc.'s Partner Kenai Defense Company LLC Signs Contract with the US Air Force Civil Engineering Center

Rhea-AI Summary

American Resources Corporation (NASDAQ:AREC) has announced a collaboration with Kenai Defense Company and the Air Force Civil Engineering Center (AFCEC) to develop patented technology for carbon nanostructures used in concrete applications. The contract highlights the use of fine particle carbon waste material, often seen as environmental waste, as a feedstock for manufacturing carbon additives and graphene. This partnership indicates recognition of American Resources' innovation by the Department of Defense. In 2022, the company sold an exclusive license for its carbon nanostructure and graphene patents to Novusterra for $16 million in stock.

Positive

• Secured contract with Air Force Civil Engineering Center for developing carbon nanostructures.
• Highlights recognition by the Department of Defense for innovative technology.
• Utilization of fine particle carbon waste offers environmental benefits.
• Successful sale of exclusive license for patents to Novusterra for $16 million strengthens financial position.

Negative

• None.

Contract with Air Force Civil Engineering Center focuses on utilizing patented technology for the creation of carbon nanostructures to be used in concrete applications

FISHERS, IN / ACCESSWIRE / January 26, 2023 / 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, announces that Kenai Defense Company LLC ("Kenai Defense") has secured a contract for the development of its exclusive patents with the Air Force Civil Engineering Center ("AFCEC"). This contract will call for Kenai Defense to work with the AFCEC to develop applications for the use of carbon nanostructures as a functional concrete additive.

Mark Jensen, CEO of American Resources Corporation commented, "We are excited to see solid execution in the growth of our patent portfolio and the recognition by the Department of Defense for the high value applications that they unlock. The partnership that American Resources and Novusterra have with Kenai Defense for the defense industry showcases how our technology can benefit not only our shareholders but also the strength of our nation. Our team looks forward to supporting the development of this program which will be hosted in Utah and West Virginia--the same state that we are building a fully integrated carbon facility combined with operations to develop rare earth recovery and advanced carbon materials."

The patents to be used by Kenai Defense under its AFCEC contract focus on utilizing fine particle carbon waste material that is often discarded or unrecoverable in the coal recovery process. This carbon is a very attractive feedstock for this process as its often deemed an environmental waste given its small particle size. This patented technology is able to make use of this feedstock in an environmentally and cost-effective manner. The patents are focused on the oxidation and processing of carbon to manufacture carbon nanostructure additives as well as high value applications such as graphene for advanced energy storage technology.

Jeremiah Riley, CEO of Kenai Defense Company LLC commented, "It has been great working with the American Resources and Novusterra Inc. team in the implementation of their high value patents into the defense and space industries. Securing this contract is a great first step with the Air Force Civil Engineering Center to further develop the technology, support AFCEC's mission, and expand the applications for the concrete industry. We look forward to delivering results under this program in partnership with Marshall University, the American Resources and Novusterra team, along with their Texas Tech University partnership."

In 2022, American Resources Corporation sold the exclusive license to the carbon nanostructure and graphene patents to Novusterra for $16 million in stock, which includes the benefit of the Kenai Defense partnership.

About Kenai Defense Company LLC
Kenai Defense has deep roots in supporting mission critical objectives. It provides RDT&E solutions to defense customers and supplies technology to the U.S. military and its allies. With operations in Utah and Alaska, along with its growing presence in West Virginia and Kentucky, Kenai Defense collaborates with national stakeholders to develop next-generation technologies. Its work includes the development, enhancement, commercialization and supply of advanced materials and automated technologies.

About Novusterra Inc.
Novusterra's specializes in the development and commercialization of patented technology to produce high quality carbon nanostructures and graphene from carbon-based deposits to be utilized within the sustainable infrastructure, energy storage, agriculture and water filtration marketplaces. The patents the company has secured through the acquisition of an exclusive sublicense with American Resources Corporation (NASDAQ: AREC) are designed to make use of an abundant and low-cost feedstock (coal) in an environmentally friendly process.

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.

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 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. Through its wholly owned subsidiary, ReElement Technologies, American Resources 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. 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.

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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FAQ

What contract did American Resources Corporation sign with the Air Force?

American Resources Corporation signed a contract with the Air Force Civil Engineering Center to develop patented technology for carbon nanostructures as functional concrete additives.

What is the significance of the partnership with Kenai Defense?

The partnership with Kenai Defense is significant as it recognizes American Resources' innovative technology, which is being applied in defense-related projects.

How much did American Resources receive for its graphene patents?

American Resources Corporation sold its exclusive license for carbon nanostructure and graphene patents to Novusterra for $16 million in stock.

What environmental benefit does the new technology provide?

The technology utilizes fine particle carbon waste material, often considered environmental waste, to create valuable carbon additives, promoting sustainable practices.

Which states will host the development program for the AFCEC contract?

The development program for the AFCEC contract will be hosted in Utah and West Virginia.