American Resources Corporation’s ReElement Technologies Signs Lithium Offtake and Partnership Agreements with American Lithium Energy Corporation

ReElement Technologies will supply high-purity, battery-grade materials for use in American Lithium Energy's battery manufacturing process

The companies will work to co-locate operations within the other's facilities for battery manufacturing and efficient recovery of high value elements to recirculate back into the manufacturing process.

American Resources Corporation and affiliates intend to invest up to $3 million into ALE to further align core competencies and growth objectives

FISHERS, IN / ACCESSWIRE / May 31, 2023 / American Resources Corporation's (NASDAQ:AREC) ("American Resources" or the "Company") subsidiary, ReElement Technologies LLC ("ReElement Technologies"), a leading provider of high performance refining capacity of battery and rare earth elements, is pleased to announce that it has signed a partnership with American Lithium Energy Corporation ("ALE") to enhance the current supply chain for lithium-ion batteries to the energy storage industry by supplying battery-grade materials, investing in and co-locating advanced refining capacity with ALE's battery manufacturing. Through this agreement, ReElement Technologies will supply the high-purity lithium and other refined battery minerals to be used in creating ALE's state-of-the-art batteries that are used in a variety of applications and industries including medical, aerospace, defense, and electric vehicles.

American Lithium Energy ships the world's highest energy density silicon-based lithium-ion batteries with industry best safety and zero-volt stability. ALE's patented technologies eliminate the need for trade-offs between energy density, lifecycle, and safety, and ALE's products are able to deliver all three benefits. ALE's patented lithium battery safety technologies generate extremely high-power, high-energy-density lithium cells. ALE's customers include: Department of Defense, Department of Energy, and several US defense primes for over several years.

Mark Jensen, Chairman and CEO of American Resources Corporation commented, "We are extremely excited to sign a fully integrated partnership with American Lithium Energy and their team. Their patented suite of technologies and close relationship with the Department of Defense and Department of Energy is perfectly aligned with what we do at ReElement Technologies by enabling the companies to establish a fully domestic and sustainable supply chain to source battery minerals and manufacture them into high-end batteries for our military, space and domestic industries that need ultra, high-end batteries. The high purity of the products that we produce combined with ALE's innovative and patented battery manufacturing processes will enable us to collaboratively supply industry best safety in refining, manufacturing and unmatched performance."