Benzinga | Feb 2, 2021 08:07AM EST

American Resources Corporation Acquires Exclusive Rights To Purdue University's Rare Earth Element Innovations, Critical For Clean Energy Technologies

An environmentally safer method of rare earth and other critical material separation and purification using ligand-assisted chromatography for coal, coal byproducts, recycled permanent magnets and Lithium Ion batteries

FISHERS, IN / ACCESSWIRE / February 2, 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 marketplace, today announced that, with the addition of Hasler Ventures LLC, the Company has licensed ligand assisted displacement ("LAD") chromatography patents and knowhow to further expanded its capability in environmentally friendly separation and purification of rare earth elements. These exclusive patents and technologies, developed at Purdue University, are specific to the processing of separated and pure rare earth metals and critical elements from coal byproducts, recycled permanent magnets and lithium-ion batteries. The agreement will enable American Rare Earth LLC (or "ARE"), a wholly owned subsidiary of American Resources Corporation, to further develop and construct a much-needed environmentally safer domestic supply chain of critical materials.

Rare earth elements (REEs) include the 15 elements in the lanthanide series plus scandium (Sc) and yttrium (Y). They are essential ingredients for magnets, metal alloys, polishing powders, catalysts, ceramics, and phosphors, which are important for high-technology and clean energy applications. The global REE market is estimated at approximately $4 billion dollars and growing at 8% per year.

Purdue University President Mitch Daniels commented, "We've long been proud of Professor Wang and her research. If this comes to fruition, it could be a very vital new asset in protecting our country's national security and manufacturing competitiveness."

American Rare Earth's agreements with Hasler Ventures LLC comes in the form of two exclusive licenses: (1) technologies for the separation and purification of rare earth elements from coal, coal byproducts, coal waste and acid mine drainage, utilizing LAD chromatography, and (2) technologies for the extraction and purification of rare earth and critical elements from used or waste permanent magnets and batteries. Both technologies will be used by ARE to further develop its proprietary process chain for domestic commercialization and production of rare earth and critical elements.