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Dead lithium batteries pulled from hard disk drives, electric vehicles could find new life through process that recycles critical rare-earth elements

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Lifeless lithium batteries pulled from arduous disk drives, electrical autos might discover new life via course of that recycles important rare-earth components

FISHERS, Ind. – American Resources Corp., a socially accountable provider of high-quality uncooked supplies, (NASDAQ:AREC) introduced Thursday (Might 6) an enlargement of its current sponsored analysis program with Purdue University.

The settlement will deal with advancing the purification of important and rare-earth components (“REEs”).  The partnership builds on a earlier settlement to advance a Purdue-developed expertise to refine rare-earth components purification expertise to recycle everlasting magnets and lithium-ion batteries pulled from sources equivalent to arduous disk drives, electrical autos and wind generators.

The expertise was developed within the laboratory of Linda Wang, Purdue’s Maxine Spencer Nichols Professor of Chemical Engineering.

Given the early success of its previously announced settlement, American Assets entered into the expanded settlement with the Purdue Research Foundation Office of Technology Commercialization to additional refine the LAD chromatography course of and expertise to incorporate the recycling, reprocessing and purification of important rare-earth components from lithium-ion batteries and coal waste and byproducts. The brand new settlement builds on the acquisition of sure licenses related to the Purdue-developed expertise to separate and purify rare-earth components utilizing ligand assisted displacement (“LAD”) chromatography, a expertise particular to the recycling of everlasting magnets for rare-earth components.

“Purdue has been a unbelievable, modern and commercially pushed companion to work with,” stated Mark Jensen, American Assets CEO. “The rare-earth aspect purification expertise that we’re commercializing is extraordinarily thrilling, and we’re each on the identical web page by way of getting it to the market as effectively as potential. Given the early success of our current analysis program, it made sense to develop this system in brief order to incorporate the feedstocks that we’re most targeted on, equivalent to lithium-ion batteries and coal-based waste and byproducts. Collectively, our course of chain of expertise and feedstocks permits us to assist restore the home provide chain of those important supplies in essentially the most sustainable and environmentally pleasant and helpful methods ever developed. We consider that is the place the U.S. must drive innovation and compete with China on this market. The crew at Purdue is a crucial a part of this, and we stay up for pushing aggressively ahead with commercialization of the expertise and showcasing the low price and environmentally delicate expertise.”

Uncommon-earth components embrace the 15 components within the lanthanide sequence plus scandium (Sc) and yttrium (Y). They’re important components for magnets, steel alloys, sprucing powders, catalysts, ceramics and phosphors, that are essential for prime expertise and clear vitality functions. The worldwide REE market is roughly $4 billion yearly and is rising at 8% per yr.

American Assets started staffing as much as develop a provide chain and aftermarket for sure end-of-life merchandise with a number of companions to supply waste everlasting magnets and lithium-ion batteries particular to this portion of its feedstocks and rare-earth components “Seize – Course of – Purify” course of chain.  These end-of-life merchandise would come with electrical/hybrid autos, e-bikes, wind generators, NMR machines, MRI machines and sure industrial motors.

The corporate continues to deal with operating environment friendly streamlined operations in being a provider of uncooked supplies to the infrastructure and electrification market in essentially the most sustainable of how. By working with low or no legacy prices and having one of many largest and most modern progress pipelines within the trade, American Assets works to maximise worth for its traders by positioning its massive asset base to suit an financial system, whereas with the ability to scale its operations to satisfy the expansion of the markets it serves. 

About American Assets Corp.

American Assets Corp. is a next-generation, environmentally and socially accountable provider of high-quality uncooked supplies to the brand new infrastructure market. The corporate is concentrated on the extraction and processing of metallurgical carbon, a necessary ingredient utilized in steelmaking, important and uncommon earth minerals for the electrification market, and reprocessed steel to be recycled. American Assets has a rising portfolio of operations situated within the Central Appalachian basin of jap Kentucky and southern West Virginia the place premium-quality metallurgical carbon and rare-earth mineral deposits are concentrated. American Assets has established a nimble, low-cost enterprise mannequin centered on progress, which gives a big alternative to scale its portfolio of property to satisfy the rising international infrastructure and electrification markets whereas additionally persevering with to amass operations and considerably scale back their legacy trade dangers. Its streamlined and environment friendly operations are in a position to maximize margins whereas lowering prices. For extra info go to americanresourcescorp.com or join with the Firm on Facebook, Twitter, and LinkedIn.

About Purdue Analysis Basis Workplace of Expertise Commercialization

The Purdue Analysis Basis Office of Technology Commercialization operates one of the vital complete expertise switch packages amongst main analysis universities within the U.S. Providers offered by this workplace help the financial improvement initiatives of Purdue College and profit the college’s tutorial actions via commercializing, licensing and defending Purdue mental property. The workplace is situated within the Convergence Middle for Innovation and Collaboration in Discovery Park District, adjoining to the Purdue campus. In fiscal yr 2020, the workplace reported 148 offers finalized with 225 applied sciences signed, 408 disclosures acquired and 180 issued U.S. patents. The workplace is managed by the Purdue Analysis Basis, which acquired the 2019 Innovation and Financial Prosperity Universities Award for Place from the Affiliation of Public and Land-grant Universities. In 2020, IPWatchdog Institute ranked Purdue third nationally in startup creation and within the high 20 for patents. The Purdue Research Foundation is a personal, nonprofit basis created to advance the mission of Purdue College. Contact otcip@prf.org for extra info.      

Particular Observe Relating to Ahead-Trying Statements

This press launch accommodates “forward-looking statements” throughout the which means of the Personal Securities Litigation Reform Act of 1995.  Ahead-looking statements contain recognized and unknown dangers, uncertainties, and different essential elements that might trigger the Firm’s precise outcomes, efficiency, or achievements or trade outcomes to vary materially from any future outcomes, efficiency, or achievements expressed or implied by these forward-looking statements.  These statements are topic to various dangers and uncertainties, lots of that are past American Assets Company’s management.  The phrases “believes,” “might,” “will,” “ought to,” “would,” “might,” “proceed,” “seeks,” “anticipates,” “plans,” “expects,” “intends,” “estimates,” or related expressions are meant to determine forward-looking statements, though not all forward-looking statements comprise such figuring out phrases. Any forward-looking statements included on this press launch are made solely as of the date of this launch. The Firm doesn’t undertake any obligation to replace or complement any forward-looking statements to mirror subsequent occasions or circumstances. The Firm can’t guarantee you that the projected outcomes or occasions can be achieved.

PR contacts

Matt Sheldon, Precision Public Relations, 917-280-7329, 

Cynthia Sequin, Purdue Analysis Basis (ret.)

Investor contacts

Jenene Thomas, JTC Staff LLC, 833-475-8247

Todd McKnight, RedChip Firms Inc. 800-733-2447

American Assets Corp. contact

Mark LaVerghetta, Vice President of Company Finance and Communications, 317-855-9926 Ext. 0

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