American Resources Corp. (NASDAQ: AREC) stock gained by 5.29% at the last close whereas the AREC stock price declines by 1.67% in the pre-market trading session. American Resources Corporation is a good quality raw material provider to the new infrastructure sector that is next-generation, socially conscious.
AREC stock’ Recent Past Development
The United States Department of Energy has designated American Resources Corporation to a Federal Demonstration Partnership award for sorting essential mineral-rich coal resource feedstock in a support role. Under the terms of the agreement, American Resources will contribute to a DOE-funded project led by Microbeam Technologies Inc. and Energy Technologies Inc. (ETI) to develop new models for calculating rare earth elements and critical minerals in various coal types using prompt gamma neutron activation analysis spectra technology.
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Mark Jensen, CEO of American Resources Corporation stated,
They’re excited to be a part of this project to create a novel application for assessing carbon-based feedstocks for essential and scarce earth elements. They are quite proud of the progress they have achieved in being an innovator, solution provider, and leader in developing a domestic supply chain for these increasingly critical materials that is efficient, sustainable, and ecologically safe. They are thrilled by the collaboration opportunities they are seeing to participate in these new efforts as they continue to execute their Capture – Process – Purify process chain. They look forward to assisting Microbeam and ETI with this unique project, as well as expanding their partnerships to develop practical and safe solutions for the sourcing and processing of these materials.
To date, American Resources has obtained 16 patents and technology related to the production of rare earth elements (REEs) and essential minerals from coal-based waste and byproducts, as well as waste permanent magnets and lithium-ion batteries. The Company’s “Capture – Production – Purify” process chain is focused on these particular feedstocks in order to establish a more sustainable and environmentally friendly source of these important commodities. The Company is focused on improving its technology suite, which includes electrolytic processing and ligand-assisted chromatography purification, as quickly and effectively as feasible toward commercialization.