American Resources Corporation's ReElement Technologies Signs Partnership with RecycleForce
American Resources Corporation (NASDAQ:AREC) has announced a partnership with RecycleForce to create the first commercial-scale facility for rare earth elements and critical battery materials in the U.S. The partnership aims to source end-of-life products for rare earth and battery elements, which will be processed by ReElement Technologies. This initiative seeks to reduce the dependency on foreign sources and enhance the domestic supply chain while providing job training and employment opportunities for disadvantaged communities. The innovative technology will contribute to environmental sustainability and efficient recycling.
- Partnership with RecycleForce improves the domestic supply chain for rare earth and battery materials.
- ReElement's patented technology is low-cost, scalable, and environmentally safe, which enhances competitive advantage.
- The initiative supports job creation and workforce rehabilitation for disadvantaged communities.
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- American Resources Has Commercialized the First Commercial Scale Rare Earth Element and Critical Battery Element Facility in the United States
- RecycleForce Is Leader in Work Force Rehabilitation and Has Processed Over 90 Million Pounds of Electronic Waste Since Inception
- The Parties Will Jointly and Independently Source and Process Rare Earth and Battery Element Feedstocks Through Collaborative Relationship To Be Purified by ReElement
FISHERS, IN / ACCESSWIRE / September 13, 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 entered into a partnership with Indiana-based RecycleForce, a 501(c)3 organization committed to reducing crime through employment and job training while improving the environment through electronics recycling, whereby the parties will jointly and independently source and process end-of-life products for their rare earth and critical battery elements to feed the domestic supply chain. Under the terms of the partnership, post the sourcing of end-of-life products, RecycleForce will aggregate and preprocess a high concentrate feedstock of battery elements or permanent magnets to provide to ReElement. ReElement will utilize its patented, low-cost, scalable, flexible and environmentally safe chromatographic separation and purification technology to produce high-purity battery elements such as lithium, cobalt, nickel and manganese and rare earth oxides for its magnet and battery manufacturing partners.
Mark Jensen, CEO of American Resources Corporation commented, "Having signed many collaborative partnerships in my career this is one of the most exciting to date. We couldn't be more honored to work with the RecycleForce team and staff as they help us establish an efficient and secure domestic supply chain for rare earth and battery elements. Their mission-driven organization has an impressive track record of success not only in terms of volumes of material processed but more importantly by providing a transitionary training platform and opportunity for people who need and desire it. This partnership will allow RecycleForce to create even more meaningful opportunities for the disadvantaged communities they serve, creating new jobs to re-integrate formerly incarcerated individuals into skilled labor positions in the new electrified economy. Partnerships like this allow us to bolster better social and environmental outcomes while helping the U.S. mitigate the more than 3 billion dollars in rare earth elements that end up in landfills each year, while also diminishing our reliance on imported rare earth and battery elements from environmentally harmful sources."
Gregg Keesling, founder and President of RecycleForce, echoed those comments, "RecycleForce's mission from day one has been to provide the ex-offenders with the tools and assistance to reintegrate into their communities as productive and responsible citizens. We are excited to expand those opportunities for growth as our associates tackle a global environmental and national security issue. We couldn't be more excited to work with the ReElement team given their revolutionary technology and process to bring this critically important supply chain back to the United States, while also incorporating our workers in the process now and in the future."
ReElement Technologies is committed to leading the domestic supply chain for rare earth and battery elements in the electrified economy. The Company has proven that its patented chromatographic separation and purification is a low cost, scalable, flexible and an environmentally safe replacement to the existing environmentally and socially toxic alternatives used around the globe for rare earth and critical element separation and purification. As the Company executes and scales the production at its facilities, it will significantly reduce the United States' dependency on foreign nations for the supply of these critical raw materials while also creating a true circular life-cycle solution.
Learn more about ReElement Technologies' patented and scalable process and technology here www.reelementtech.com.
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 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 RecycleForce
Since 2006, RecycleForce has employed nearly 1200 men and women, providing industry-recognized training and certification, on-the-job training and job placement services. RecycleForce employees also have access to and participate in: professional and peer mentoring; high school equivalency and literacy tutoring; assistance with housing and driver's license reinstatement; substance abuse and mental health counseling; tax preparation, budgeting, and financial literacy training. RecycleForce since inception has processed over 93 million pounds of recycled material to be used to produce new products in the United States. For more information visit recycleforce.org or connect with the Company on Facebook and Twitter.
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. 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.
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
PR Contact
Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co
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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