• The partnership includes regular deliveries of high quality LFP black mass, Duesenfeld Black®, for ReElement to refine back to battery-grade products
• The Duesenfeld battery shredding system for lithium-ion batteries is a world-leading technology for the sustainable processing of end-of-life batteries

FISHERS, IN / ACCESSWIRE / January 11, 2024 / American Resources Corporation's (NASDAQ:AREC) ("American Resources" or the "Company") ReElement Technologies Corporation, ("ReElement") a leading provider of high performance refining capacity of rare earth and critical battery elements, announced today that it has executed a MOU for the supply of lithium iron phosphate (LFP) black mass with Duesenfeld GmbH (Duesenfeld). ReElement will refine the recycled LFP battery material feedstock back to battery grade lithium products such as lithium carbonate (Li₂CO₃) and/or lithium hydroxide (LiOH) at its Marion, Indiana and Noblesville, Indiana refining facilities.

Chris Moorman, Chief Commercial Officer of ReElement Technologies Corporation commented, "We are excited to execute this MOU with the Duesenfeld team which provides us access to LFP black mass to feed our Noblesville and Marion refining sites and gives Duesenfeld a prime spot within our scalable refining capacity queue to efficiently execute upon our circularity goals. Our technology is the only scalable system able to process LFP black mass profitably and in an environmentally sustainable manner. Duesenfeld, based in Germany, is a world leader in the market for producing high quality black mass, and when combined with our Powered by ReElement refining process, establishes the most efficient and ecofriendly circular lifecycle solution for lithium-based batteries. We believe this relationship can grow both domestically as well in Germany as EV adoption grows and LFP-based energy storage solutions, which is already the world's most popular lithium-based battery, continues to grow. We couldn't be more thankful for the hard work of the ReElement and Duesenfeld teams to move efficiently to address and lead in solving supply chain and sustainability challenges for battery / cell grade lithium."

Duesenfeld, a winner of the German Sustainability Award in 2024, has developed one of the most environmentally friendly recycling processes for lithium-ion batteries. Their patented, climate-friendly, mechanical process generates no CO₂ or toxic filters material that needs to be disposed of. Duesenfeld's goal is to spread their technology to achieve the greatest possible CO₂ savings and complement the growth of electromobility through environmentally safe recycling methods.

ReElement will receive the high quality LFP black mass that will be refined to high-purity (99.9%+) Li₂CO₃ or LiOH that can feed directly back into the battery industry. The companies will continue to work together to expand operations and output of high purity lithium products, while also working together to expand into other battery chemistries.

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 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.

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.

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 Corporation

ReElement Technologies Corporation 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 Duesenfeld GmbH

Duesenfeld is a pioneer in the recycling of lithium-ion batteries and has developed processes that do not require the usual melting or heating of the battery modules at the beginning. Since the beginning, our processes have been environmentally friendly, the CO2 avoidance and the high recycling efficiency in the foreground. As a spin-off of TU Braunschweig, Duesenfeld has entered into cooperation with other universities and research institutions such as TU Clausthal, and hydrometallurgical processes have been developed and patented from such cooperation arrangements. Further processes were developed directly at Duesenfeld and patented. The LitoRec recycling process is based on patents of Duesenfeld GmbH. The Duesenfeld process with mechanical crushing of the batteries and further hydrometallurgical processing of the black mass is a low-temperature process. During the mechanical comminution and inactivation of the batteries, drying is carried out below 80 ° C and under vacuum - only under these conditions is no exhaust gas scrubbing required and only in this temperature range can the electrolyte be recovered in a purity so that it can be reused. With this technology, Duesenfeld combines environmental friendliness with economic efficiency.

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.

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