American Metals and AI Transportation Acquisition Corp Announce $170 Million Business Combination

American Resources Corporation's wholly-owned subsidiary, American Metals, and AI Transportation Acquisition (AITR) have announced a definitive business combination agreement valued at $170 million. The transaction will result in the formation of Electrified Materials Corporation (Pubco), a new Delaware corporation that will serve as the parent company of both American Metals and AITR. The combined entity is expected to be listed on the Nasdaq Stock Market under the ticker symbol "EMCO."

American Metals operates as a cutting-edge recycler, processing metals and minerals from end-of-life magnets, lithium-ion batteries, and ferrous metals. Leveraging its location in the U.S. coal country, the company utilizes abundant copper, aluminum, and metal reserves from former thermal coal mines. The company aims to expand its preprocessing capabilities to ensure a domestic supply chain for essential materials like copper, aluminum, steel, plastic, rare earth elements, and battery components.

By capitalizing on its regional logistics and infrastructure, as well as its partnership with ReElement Technologies Corporation, American Metals is well-positioned to grow in the high-demand market for used steel, rare-earth elements, and battery materials. This initiative not only supports the electrified economy but also aids in cleaning up old mining infrastructure.

The global demand for critical metals is surging, with recycling rates for many of these materials remaining below 5%, according to a World Economic Forum report. American Metals aims to be a leading producer of these metals, contributing to a reduction in global greenhouse gases through a closed-loop supply chain facilitated by its partnership with ReElement Technologies.