- Graphite One Inc.’s (GPH) subsidiary signed an agreement with Pacific Northwest National Laboratory (PNNL) for materials on the Graphite Creek Property in Alaska
- PNNL is a centre for scientific discovery and is operated in the state of Washington
- PNNL will test anode active and other materials to verify material conformity to electric vehicle battery specification
- Graphite One’s board of directors has approved a grant of stock options and restricted share units worth roughly $4.22 million
- Graphite One Inc. (GPH) is unchanged, trading at $1.08 per share as of 11:35 a.m. EST
Graphite One (GPH) Alaskan subsidiary has signed a material transfer agreement with Pacific Northwest National Laboratory (PNNL).
The agreement is in regard to the use of materials from the Graphite Creek Property in Alaska.
PNNL is a centre for scientific discovery and is managed and operated in the state of Washington by Battelle for the U.S. Department of Energy’s Office of Science.
According to the agreement, PNNL will test anode active and other materials to verify material conformity to electric vehicle battery specifications. The first materials for testing will be the anode active materials being produced as samples by Sunrise New Energy Material Co. Ltd using graphite from the Graphite Creek Property.
Graphite One and Sunrise previously stated their intention to sign a technology licensing agreement. The agreement would allow them to advance the planned graphite materials manufacturing facility in Washington State. The plan also includes a recycling facility to reclaim graphite and other battery materials, co-located at the Washington site.
In other news, Graphite One’s board of directors has approved a grant of stock options and restricted share units (RSUs) to its employees, officers, and directors. The grant included approximately 1.51 million stock options which can be exercised for $1.00 per option, and 2.71 million RSUs for $1.00 apiece.
The stock options vest one-third on each anniversary date over three years and expire five years from the date of the grant. The RSUs vest over three years except for certain RSUs, which vest quarterly beginning on the first-anniversary date. On the vesting date, each RSU entitles the holder to receive one common share of Graphite One.
Graphite One Inc. (GPH) is unchanged, trading at $1.08 per share as of 11:35 a.m. EST.