- Jeff Peterson promoted to Chief Operating Officer of ReElement Technologies after a year of successfully leading its operations to commercialization
- Dr. Yi Ding joins as Director of Research & Development from Purdue University as the technical lead for the Company's rare earth and battery element purification technology
- Chris Moorman joins as Chief Commercial Officer as lead for product sales and feedstock relationships
FISHERS, IN / ACCESSWIRE / August 4, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced that its majority-owned ReElement Technologies LLC division ("ReElement") has promoted Jeff Peterson to Chief Operating Officer and expanded the ReElement team with the appointments of Dr. Yi Ding as Director of Research & Development and Chris Moorman as Chief Commercial Officer.
Mark Jensen, CEO of American Resources Corporation commented, "We are excited to move aggressively and strategically to expand our Company coming off of an exciting event of commencing commercial operations at our initial rare earth and battery element purification facility. Companies are built by a collective group of individuals that share a similar passion, drive and effort to succeed, and there is no better person to lead the operations of ReElement than Jeff Peterson, given his demonstrable performance to date. Jeff has proven his ability to lead by example and prioritize what is needed to create success for our operations and shareholders alike. Similarly, Yi has worked with our team during his tenure at Purdue University and is a substantial reason as to why we have been successful in commercializing the first isolation and purification facility in the United States for rare earth and battery elements. We couldn't be happier to have him join the team full-time to continually drive our business forward in this fast-paced environment. Lastly, Chris is a man of action that is driven, aggressive and entrepreneurial which are all key attributes in what it takes to drive sales and build supply chain relationship as we pioneer in building the industry and marketplace for domestic and sustainable rare earth and battery elements that are produced at magnet and battery grade in the United States. Chris will be key to our planned aggressive expansion to securing and finalizing agreements with feedstock and offtake partners. With our growing team, I am confident that the path that we set will build tremendous value for our investors, customers and industry as a whole."
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 isolation and purification. As the Company executes and scales the production at our facilities, we 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.
Learn more about ReElement Technologies' process and technology here - Video.
Jeff Peterson - Chief Operating Officer
Jeff brings nearly 20 years of experience including operations, engineering, sales, and product development to ReElement Technologies LLC. He began his career as a Commissioned Officer in the United States Navy serving onboard nuclear-powered submarines. After resigning his Commission, Jeff joined Westinghouse Electric Company where he served as part of the engineering and licensing team in the design and U.S. Nuclear Regulatory Commission approved licensing of a first-of-its-kind Generation III+ pressurized water reactor for commercial electricity generation. Jeff then joined Cyient where he was rapidly promoted to sales, strategy, and product development leadership roles. He most recently worked with Hitachi Vantara as part of the North American sales team, selling digital transformation initiatives into key industrial markets. Jeff is a graduate of Purdue University and has his Master of Business Administration from the Joseph M. Katz Graduate School of Business at the University of Pittsburgh.
Dr. Yi Ding - Director of Research & Development
Dr. Yi Ding received his bachelor's degree in chemical engineering from Tsinghua University in Beijing in 2016 and Ph.D. from Purdue University in 2021. Before joining ReElement, he worked as a postdoctoral research associate at Purdue University. His research focused on multi-dimensional, multi-mode chromatography for the separation and purification of critical materials including authoring and co-authoring 9 journal publications as well as serving as co-inventor for 3 provisional patent applications. Yi is also the recipient of the 2021 American Institute of Chemical Engineering Separation Division Graduate Student Research Award. Through his research and development efforts, Yi has set out to prove the clean and efficient chromatography processes for critical materials purification can provide the driving force for a sustainable and circular economy.
Chris Moorman - Chief Commercial Officer
Chris Moorman brings a wide range of experience to his role as Chief Commercialization Officer. Since learning risk management as a commodity options market maker on the floor of the NYMEX, Chris has founded and exited several companies in a variety of industries from data center development to consumer package goods to artificial intelligence platform design. His experience in new market development will be critical in the formation of the domestic circular supply chain for the electrification economy. He is a graduate of Purdue University and serves on the boards of Fishing's Future, a national leader in Angler Education, and the Kurt Vonnegut Memorial Library.
American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.
About American Resources Corporation
American Resources Corporation 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 LLC
ReElement Technologies LLC 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. American Rare Earth 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.
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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SOURCE: American Resources Corporation
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