Jeff Peterson joins the Company to bolster commercialization development of its rare earth element processing and broaden its sustainable feedstock sources
FISHERS, IN / ACCESSWIRE / July 20, 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 it has added Jeff Peterson as a senior member to bolster the Company's American Rare Earth division. Mr. Peterson will focus on deployment and commercialization of the Rare Earth division's processing, isolation and purification technology suite, as well as broadening the supply of certain critical and rare earth element feedstocks.
Mark Jensen, CEO of American Resources Corporation commented, 'As we continue to execute on our American Rare Earth business plan, we are encouraged by the opportunities that we are seeing to create and foster a sustainable supply chain of rare earth and critical minerals. We strongly believe that blending such a supply chain with our innovative, process-chain technologies will create the most environmentally safe sources of these important materials ever developed. As the electrification movement continues to accelerate, we feel it is exceedingly important to complement that movement with an efficient and environmentally safe circular lifecycle of raw materials. The addition of Jeff to our team, with his experiences and proven track record, will assist us in achieving these goals more effectively.'
Mr. Peterson brings nearly 20 years of experience including operations, engineering, sales, and product development to American Resources. 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. Mr. Peterson 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.
Mr. Peterson added, 'It's very exciting to be joining the American Resources team at this point in the Company's evolution. They have shown their ability to innovate their business lines to meet the demand of the rapidly changing infrastructure markets and to solve problems that have been facing the carbon industry while also addressing those facing the critical and rare earth domestic supply chain and marketplace. We have a tremendous opportunity to not only fill the demand for those raw materials but to also bring them to the market in the most sustainable and environmentally conscious of ways.'
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. 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.
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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