Graphite One outlines next steps for planned Ohio anode plant

Key Highlights

• Graphite One outlined next steps for a planned anode-materials plant in Conneaut, Ohio.
• The proposed Phase 1 plant targets 10,000 tonnes per year capacity and US$80 million capex.
• Graphite One is targeting a final investment decision by April 2027 and first sales in Q4 2028.
• The company cited a non-binding US$1.4 billion Export-Import Bank letter of interest for Ohio expansion.

Graphite One Inc. (TSXV: GPH; OTCQX: GPHOF) has outlined the next steps for its planned Phase 1 synthetic graphite anode active materials plant in Conneaut, Ohio, following receipt of an air permit from the Ohio Environmental Protection Agency, according to a company release dated Nov. 9, 2026.

The company described Phase 1 as a blending and coating facility that would process purchased synthetic graphite and other materials into anode active material for lithium-ion batteries used in electric vehicles and energy storage. Graphite One said Phase 1 is designed to operate without ore from its Graphite Creek natural graphite resource in Alaska, which the company said could allow it to pursue customer sales before mine production begins.

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Graphite One said the Phase 1 plant is planned at 10,000 tonnes per year of capacity, with an estimated initial capital cost of US$80 million that it expects to update after final engineering. The company is targeting a Phase 1 final investment decision by April 2027 and first sales in the fourth quarter of 2028.

While the air permit addresses what the company called the main environmental hurdle for the Conneaut plant, Graphite One said other state and local approvals are still required. It listed its next steps as completing final engineering, obtaining remaining permits, and securing project financing.

Graphite One also referenced an amended, non-binding letter of interest issued in December 2025 by the Export-Import Bank of the United States for up to US$1.4 billion to support phased expansion of the Ohio facility. The company said the letter of interest contemplates 25,000-tonne increments up to 100,000 tonnes per year, and remains subject to application, due diligence, credit approval and other requirements.

The company added that, together with a separate Export-Import Bank letter of interest of $670 million for the Graphite Creek Project, the two letters total $2.07 billion. Graphite One said its timelines remain subject to engineering, remaining permits, financing, construction and successful customer qualification.

The original press release is available on stockhouse.com