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American Resources Corporation Sub-Licenses Graphene Patents To Development Partner for Energy Storage Development
Sub-licensee goal to further develop graphene patents for the commercialization focusing initially on energy storage applicationsAmerican Carbon Materials,
About this update from American Resources Corporation
[{"type":"text","content":"Sub-licensee goal to further develop graphene patents for the commercialization focusing initially on energy storage applicationsAmerican Carbon Materials, our joint venture partner, will receives 50% of operating income from sale of graphene from development partnershipAmerican Resources receives class A common stock and class B common stock in development partner with plan to distribute series A to underlying shareholdersFISHERS, IN / ACCESSWIRE / March 31, 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 and electrification marketplace, today announced that it has sub-licensed on a non-exclusive basis two of its exclusive patents for the production of graphene to Novusterra Inc. (\"Novusterra\") for an equity stake in Novusterra and a portion of future cash flows from the sale of graphene from that entity.Novusterra is a privately-held, Florida-based company focused on acquiring and developing technologies specific to the electrification market, including rare earth element (REE) deposits, processing facilities and technologies as well as energy storage technologies. Novusterra is looking to initially raise a minimum of $5 million to fund the initial development and commercialization of the specific non-exclusive sublicenses for the production of graphene in next-generation battery and energy storage technology.Mark Jensen, Chairman and CEO of American Resources Corporation commented, \"As with all of our assets, we are always trying to find ways to maximize value for our shareholders. Our suite of patents and technologies are no different. We are excited to work with third parties to help drive value to our shareholders through the monetization of our patents. Graphene is an exciting technology where we can use carbon fines produced from our mining operation in Central Appalachia as the primary feedstock source, and believe the technology will bring innovation to the energy storage and electrification marketplaces. We are excited to work with Novusterra in this venture that not only can provide American Resources a customer for its carbon fines and upside to our shareholders, but also provide new innovative jobs for the local community.\"Pursuant to the non-exclusive sublicense agreem...