INDIANAPOLIS, IN – January 11, 2022 –

HG Ventures, a venture capital investment firm and division of The Heritage Group that supports a sustainable future in materials, infrastructure, environmental solutions and industrial systems, announced today that it has invested in and formed a strategic partnership with American Rare Earth LLC, a subsidiary of the American Resources Corporation (NASDAQ:AREC) to scale up recycling of batteries, magnets and e-waste to recover and supply critical and rare earth metals to U.S. and global markets and contribute to the circular economy. Through its investment, HG Ventures has an ownership stake in American Rare Earth, as well as rights and warrants for subsequent investment.

The companies will pair American Rare Earth’s recycling technology and capabilities processing waste materials to recover and produce raw materials, with HG Ventures’ and The Heritage Group’s industry knowledge and supply chain expertise and connections to scale U.S. rare earth and critical metals production to supply manufacturers of electric motors and magnets.

With American Rare Earths’ first purification facility expected to be operational in the first half of 2022, this partnership further strengthens American Rare Earth’s foothold into various feedstock relationships for battery and magnet material including from spent electric vehicle and windmill motors and e-waste for which there is currently no comprehensive, sustainable, end-of-life solution. Additionally, the partnership opens up relationships with public and private customers demanding these purified metals to drive the growth and success of the electrification and clean tech markets while advancing national security interests.

American Rare Earth and Heritage are expediting the path to being the United States’ first and lowest cost producer of domestically-sourced, purified and sustainable battery and magnet metals.

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