- Graphite One Inc. (GPH) enters a memorandum of understanding with New Energy Material Co. Ltd.
- The parties intend to establish a graphite material manufacturing facility in Washington
- Graphite One plans to build a supply chain of graphite materials in the U.S.
- Plans include using natural graphite from a deposit site near Nome, Alaska
- Graphite One Inc. (GPH) is up 6.62 per cent and is trading at $1.61 per share as of 3:35 p.m. ET
Graphite One (GPH) has entered a memorandum of understanding with New Energy Material Co, a China-based lithium-ion battery anode producer.
The parties intend to negotiate a definitive agreement to form an alliance to establish a graphite material manufacturing facility in Washington State, U.S.
Graphite One plans to build a supply chain of graphite materials in the U.S. The plans include using natural graphite from a deposit site near Nome, Alaska. New Energy will assist in the design, construction, and operation of the proposed manufacturing facility.
The parties are looking to explore the potential opportunity to participate in North America’s fast-growing graphite materials market. The collaborative partnership is believed to aid in expanding New Energy’s global reach.
Graphite One is focused on developing its Graphite One Project to help make it the dominant American producer of high-grade Coated Spherical Graphite (CSG) integrated with a domestic graphite resource.
The project is meant to be a vertically integrated enterprise to mine, process and manufacture high-grade CSG primarily for the electric vehicle lithium-ion battery market.
The plan is for graphite mined mining property, north of Nome, to be processed into concentrate at a mineral processing plant located adjacent to the mine. The resulting graphite concentrate would be shipped to a manufacturing plant where CSG and other value-added graphite products would be contrived.
Graphite One Inc. (GPH) is up 6.62 per cent and is trading at $1.61 per share as of 3:35 p.m. ET.