• Parties will collaborate to support a complete and EU-compliant, life-cycle solution for lithium-based batteries deployed in the EU marketplace
• Second MOU executed by ReElement to refine recycled black mass sourced from the German market back to high-purity, battery cell-grade products

FISHERS, ID / ACCESSWIRE / January 30, 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 with Battery Damage Service GmbH(BDS). This MOU forms the collaborative framework to support a complete and EU-compliant, life-cycle solution for lithium-based batteries deployed throughout the EU marketplace, and marks the second recently announced agreement from ReElement to source recycled black mass from the German market. ReElement will refine the recycled battery material feedstock back to battery grade lithium products such as lithium carbonate (Li₂CO₃) and/or lithium hydroxide (LiOH) and nickel, manganese and cobalt sulfates at its Marion, Indiana and Noblesville, Indiana refining facilities to be reintroduced into the battery supply chain.

Mark Jensen, Chief Executive Officer of ReElement Technologies Corporation commented, "We are excited to execute this MOU with the BDS team which provides us broader access to the highly advanced and leading German marketplace. We are confident our technology is the only scalable system able to refine recycled black mass profitably and in an environmentally sustainable manner, and we believe we are currently the only viable solution in the world to return lithium from LFP batteries back into the battery supply chain. BDS, based in Germany, is a leader in the market for comprehensive lifecycle solutions for waste batteries, and when combined with our Powered by ReElement refining process, establishes the most efficient and ecofriendly circular lifecycle solution to reintroduce the high-value elements back into the battery supply chain. We look forward to fostering this partnership in establishing the highest of standards within the framework of European Union compliance and beyond. We are thankful for the hard work of the ReElement and BDS teams to move efficiently to address and lead in solving supply chain and sustainability challenges for battery / cell grade products."

Battery Damage Service is a German-based company offering innovative, high performance full-service solutions for lithium-ion battery aftermarket and recycling. BDS's leading and comprehensive solutions for waste batteries including salvage, classification, rapid response, transport, storage, discharge, dismantling and recycling.

ReElement will receive high quality recycled black mass that will be refined to high-purity (99.9%+) Li₂CO₃ or LiOH as well as nickel, manganese and cobalt sulfates (based on certain battery chemistries) that will feed directly back into the battery marketplace as well as other industries. The companies will continue to work together to leverage each other's core competencies within the EU as well as other growth markets outside of the EU.

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.

Learn more about ReElement Technologies' process and technology here - Video.

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 Battery Damage Services GmbH

Battery Damage Service offers a full service for used lithium batteries. The spectrum ranges from disassembly at the end customer to transport in approved containers and environmentally friendly recycling. The goal is an efficient and easy disposal process for every waste producer, regardless of battery type and waste quantity. In case of damage, BDS handles the professional on-site salvage and subsequent disposal of critically damaged battery storage devices, including classification and logistics, based on many years of experience in recycling and the development of lithium battery systems. For more information visit batterydamageservice.de.

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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