American Resources Corporation (NASDAQ:AREC) said it has boosted its ReElement Technologies division with new hires and promoted Jeff Peterson to the role of its chief operating officer after he has successfully led the firm's operations to commercialization.
ReElement Technologies is focused on critical and rare earths and has developed its 'Capture-Process-Purify' process chain, which is low cost, scalable, flexible and environmentally safe.
Dr Yi Ding joins the division as director of research & development (R&D) from Purdue University, Indiana, while Chris Moorman joins as chief commercial officer.
"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," said Mark Jensen, CEO of American Resources.
"Jeff has proven his ability to lead by example and prioritize what is needed to create success for our operations and shareholders alike.
READ: American Resources says ReElement Technologies division exceeds expectations with greater than 99.5% pure isolated rare earth elements (REE)
"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," he said.
Jensen added that Moorman would be "key" to the company's planned "aggressive expansion to securing and finalizing agreements with feedstock and offtake partners".
Peterson began his career as a commissioned officer in the United States Navy serving onboard nuclear-powered submarines. He then joined Westinghouse Electric Company where he was part of the engineering and licensing team.
American Resources Corporation (NASDAQ:AREC) is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market.
Contact the writer at giles@proactiveinvestors.com