American Resources Corporation and Novusterra Inc. Sign Partnership for Department of Defense and Space Industries
American Resources Corporation (NASDAQ:AREC) has partnered with Kenai Defense Company, LLC for the exclusive marketing of graphene and carbon nanostructure patents targeting defense and space applications. The agreement anticipates over $1.5 million in Air Force contracts for fiscal year 2022 and an additional $10 million in fiscal year 2023 for developing advanced concrete products. This partnership aims to enhance concrete strength and sustainability while ensuring American Resources retains rights for private sector applications.
- Anticipated Air Force contracts exceeding $1.5 million for fiscal year 2022.
- Expected $10 million in funding for fiscal year 2023 from the Department of Defense.
- Exclusive rights to market graphene and carbon nanostructure patents in defense and space industries.
- None.
Graphene and Carbon Nanostructures industry is a rapidly growing for infrastructure (concrete) and battery / energy storage applications
Kenai anticipates Air Force contracts exceeding
Agreement will provide Kenai Defense Company, LLC with the exclusive rights to market graphene and carbon nanostructure patents to the Defense and Space Industries
FISHERS, IN / ACCESSWIRE / May 16, 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, alongside its affiliate, Novusterra Inc. ("Novusterra"), has entered into an exclusive license arrangement with Kenai Defense Company, LLC ("Kenai") to further develop and commercialize carbon nanostructure and graphene technologies in partnership with its defense and space industry relationships. Additionally, Kanai has agreed to hit certain milestones, funding commitments for the technology and commercialization dates of which it will pay a split of cashflow generated to American Rare Earth and Novusterra.
For federal fiscal year 2022, Kenai anticipates Air Force contracts exceeding
Mark Jensen, CEO of American Resources commented, "We are seeing a tremendous amount of interest in the use of carbon nanostructures and graphene in the market today for both infrastructure and energy/battery storage purposes. The value of our technology is that we utilize a very low-cost feedstock (waste carbon fines) versus a more costly alternative (graphite) to produce commercial products. This partnership with Kenai provides us validation of our technology, access to the Department of Defense and space market as well as substantial commitment to advance our technology through additional funding of which we maintain all ownership and rights to private industry commercial applications. This partnership is an exciting win for American Rare Earth, Novusterra and Kenai and the states of Utah, West Virginia and Kentucky where this technology will be built out and commercialized."
American Resources Corporation and Novusterra will equally share (
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, while also helping the world achieve its goals of carbon neutrality. 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.
About American Rare Earth LLC
American Rare Earth 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. American Rare Earth 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 arareearthcorp.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
View source version on accesswire.com:
https://www.accesswire.com/701477/American-Resources-Corporation-and-Novusterra-Inc-Sign-Partnership-for-Department-of-Defense-and-Space-Industries
