Graphite One Delivers Synthetic Graphite Aimed at Anode Material Production

“Subject to financing and permitting requirements, we’re planning an early-stage commercial facility to produce a finishing and coating line for synthetic graphite by late 2025, with Phase 1 production of 25,000 tons of synthetic anode material by mid-2026 and rapid production growth from then on as market demand requires. Management currently anticipates construction and commissioning costs estimated at $350 million, subject to any unforeseen delays or varied market conditions. This is planned to be a direct path to revenue, even as we continue to develop our Graphite Creek natural graphite deposit,” Huston says.

Graphite One’s updated plan is to first construct a synthetic anode material production facility to produce a range of synthetic anode materials. A natural graphite anode material production line would later be added, in time to receive natural graphite from Graphite One’s Graphite Creek deposit near Nome, Alaska, once it is permitted and operating. Ultimately, Graphite One intends to produce both synthetic and natural graphite anode materials for lithium-ion battery applications in North America.

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The delivery of synthetic graphite anode material follows the completion of Graphite One’s 2023 drilling program, conducted with the support of a $37.5 million U.S. Department of Defense Technology Investment Agreement grant under Title III of the U.S. Defense Production Act (“DPA”), which is funded through the Inflation Reduction Act. The grant reimburses Graphite One on a dollar-for-dollar basis for qualified expenditures up to $37.5 million. As a result of the DPA grant and a strategic investment from Bering Straits Native Corp., Graphite One completed a total of 28,669 ft of drilling—four times the drilling conducted in 2022—with 52 out of 52 resource holes intersecting visual graphite mineralization.

“With the U.S. currently not producing any natural and synthetic anode materials, Graphite One has formulated a fast-track path-to-production strategy, jump-starting our battery anode material production,” says Anthony Huston, Graphite One’s president and CEO. “In contrast to the typical resource development track, our strategic plan is to make Graphite One a synthetic anode material producer while Graphite Creek moves through permitting and into production. Ultimately, Graphite Creek’s natural graphite would supply our anode material facility alongside our synthetic production to deliver a full range of natural and synthetic anode materials to EV customers, 100% manufactured in the United States.

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