American Resources Corporation (NASDAQ:AREC) has announced that Kenai Defense Company LLC has secured a contract for the development of its exclusive patents with the Air Force Civil Engineering Center (AFCEC).
The company said the contract will call for Kenai Defense to work with the AFCEC to develop applications for the use of carbon nanostructures as a functional concrete additive.
It explained that in 2022 it sold the exclusive license to the carbon nanostructure and graphene patents to Novusterra for $16 million in stock, which includes the benefit of the Kenai Defense partnership.
READ: American Resources and Novusterra strike exclusive tie-up with Kenai Defense Company, LLC
"We are excited to see solid execution in the growth of our patent portfolio and the recognition by the Department of Defense for the high-value applications that they unlock,” American Resources CEO Mark Jensen said in a statement.
“The partnership that American Resources and Novusterra have with Kenai Defense for the defense industry showcases how our technology can benefit not only our shareholders but also the strength of our nation. Our team looks forward to supporting the development of this program which will be hosted in Utah and West Virginia — the same state that we are building a fully integrated carbon facility combined with operations to develop rare earth recovery and advanced carbon materials."
The company said the patents to be used by Kenai Defense under its AFCEC contract focus on utilizing fine particle carbon waste material that is often discarded or unrecoverable in the coal recovery process.
This carbon is a very attractive feedstock for this process as its often deemed an environmental waste given its small particle size, American Resources said, adding that the patented technology is able to make use of the feedstock in an environmentally sound and cost-effective manner. The patents are focused on the oxidation and processing of carbon to manufacture carbon nanostructure additives as well as high-value applications such as graphene for advanced energy storage technology.
"It has been great working with the American Resources and Novusterra Inc. team in the implementation of their high-value patents into the defense and space industries,” commented Jeremiah Riley, CEO of Kenai Defense Company.
“Securing this contract is a great first step with the Air Force Civil Engineering Center to further develop the technology, support AFCEC's mission, and expand the applications for the concrete industry. We look forward to delivering results under this program in partnership with Marshall University, the American Resources and Novusterra team, along with their Texas Tech University partnership."
American Resources is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market.
Contact the author at stephen.gunnion@proactiveinvestors.com