Company picks up first waste wind turbine motors and generators to be recycled for rare earth elements
Waste magnets and batteries are being processed using the Company's environmentally safe LAD Chromatography purification technology
Company's feedstocks create the most sustainable supply chain for critical and rare earth minerals utilizing the most environmentally safe processing and purification methods
FISHERS, IN / ACCESSWIRE / June 15, 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 the continued development of its supply chain for waste permanent magnets and lithium-ion batteries that can be recycled for their inherent critical and rare earth minerals. The Company has recently picked up its first waste wind turbine motors and generators to be processed and recycled using the Company's environmentally-safe, ligand assisted displacement ("LAD") chromatography purification technology, in conjunction with its sponsored research partnership with Purdue University.
Mark Jensen, CEO of American Resources Corporation commented, "We are at the infancy of an electrification boom with the growth of electric vehicles, wind turbines, and other high-heat based electric motors or generators. As we have been refining our suite of technologies for commercial scale production, we have simultaneously been building a redundant and efficient supply chain network to be able to source waste permanent magnets and lithium-ion batteries to be broken down, recycled, isolated and purified for the reuse of domestically sourced rare earth and critical elements. The goal of our team is to not only address a national security issue we are facing in our country, but also to be able to do it cost effectively while using the most environmentally safe methods. These magnets and batteries today typically go to landfills and are wasted, never to be used again. We are focused on working with partners to source the feedstock prior to landfilling and use them to be the lowest cost and most sustainable feedstocks in the rare earth marketplace. With our purification technology, we can not only reduce the environmental footprint of filling up landfills, but also recycle the critical and rare earth material such as Praseodymium, Neodymium and Dysprosium, etc. in a very cost effective and environmental stable method for future reuse. We applaud the wind turbine farm that has agreed to provide us with their used products while showcasing their own goal to reduce their environmental footprint."
The Company is committed to aggressively advancing its Capture - Process - Purify process chain for critical and rare earth elements to commercialization and to further develop its aftermarket distribution channels and strategic partnerships for certain waste products to be processed and recycled for their high-value raw materials. Additionally, with President Biden's recently announced plan to increase the recycling of parts that require critical and rare earth elements to function, such as batteries and permanent magnets, the Company is focused on leading the development of an efficient supply chain for sustainability and a circular life cycle of these materials.
Waste magnets make an incredibly efficient feedstock for the recycling of magnet rare earth elements including Neodymium (Nd), Praseodymium (Pr), Samarium (Sm), Terbium (Tb) and Dysprosium (Dy), given that they carry an approximate 25-35 wt. % of rare earth oxide, have a very simple mineral composition and are considered a super-grade ore. It is estimated that approximately $3 billion worth of rare earth elements end up in landfills annually given the disposal of end-of-life products. Thus, the recycling and reducing to the pure elements in permanent magnets and batteries from sources such as hard disk drives, electric vehicles, NMR machines, e-bikes and wind turbines significantly reduce waste that goes into landfills, reduces the mining-based environmental impact, and mitigates the supply chain risk. Additionally, Permanent magnet generators have gained popularity in wind turbines and other high-heat based electric motors as they allow for high power density, smaller size and the highest efficiency rates at all speeds, generating a high annual production of energy at a lower cost.
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.
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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