News Release
Graphite One Study Accelerates with 75% DoD Funding
Graphite One Inc
Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) is pleased to announce a revision to the cost-share ratio governing G1's Defense Production Act grant in July 2023 to facilitate the accelerated completion of its feasibility study. This is key to progressing the company's planned 100% US-based graphite materials supply chain. The revised cost-share agreement with the DoD will increase the DoD’s share of expenditures related to Graphite One's accelerated feasibility study from 50% to 75% based on a revised contract value of $49.8M. Given this amendment, the DoD’s maximum share of the accelerated feasibility study program is now $37.3M. G1 has confirmed to the DoD's project oversight team that its Graphite Creek natural flake graphite deposit north of Nome, Alaska, remains on schedule to complete this feasibility study as planned by December 2024, subject to financing. Anthony Huston, Graphite One CEO and President, commented: "This development in our planned 100% U.S.-based graphite supply chain demonstrates the momentum Graphite One is building. For our shareholders, this means that for every dollar we spend advancing the Graphite Creek accelerated Feasibility Study, G1 receives 75% of those expenditures in DoD grant funding rather than 50% upon submission. We welcome the support of the Department of Defense as we continue our efforts to build a U.S. industrial capacity that serves the renewable energy transition, technology development, and national security." Discover more about Graphite One's plans to transform the U.S. graphite industry. Pioneering US Graphite Expansion Graphite One highlights a significant opportunity in the graphite market. The United States is 100% reliant on imports of natural graphite with much of this coming from China 1. Therefore, G1 aims to change this by creating a US-based advanced graphite supply chain solution anchored by its Graphite Creek deposit. These latest developments should help position the company in its quest to meet growing demand domestically. Graphite Creek is the largest natural graphite deposit in the U.S. "and among the largest in the world", according to the US Geological Survey 2. This deposit is the first link in G1's US graphite supply chain plan to become an American producer of high-grade anode materials that integrate with a domestic graphite resource. The second link in the plan is an advanced graphite material and battery anode material manufacturing plant in Ohio. Finally, the third component of the company’s circular economy strategy is to co-locate a recycling facility at the Ohio site to reclaim graphite and other battery materials. The execution and creation of a US-based advanced graphite supply chain solution is subject to financing. The scale of G1's Graphite Creek deposit, political support for the project, and recognition by government agencies as to its viability, also indicate the potential for long-term growth. Furthermore, government funding and investments by local and indigenous communities underscore investor confidence in Graphite One's strategy. Ultimately, G1's US supply chain initiative aligns with the Biden administration’s goal of reducing China’s dominance in critical minerals mining and refining. Demand for graphite is expected to continue to grow, with The World Bank Group forecasting a 494% rise in the graphite market by 2050 3, and a report from President Joe Biden's administration predicts a 2500% surge in demand for graphite by 2040 4. About Graphite One With the plan to create three integrated operational pillars, G1 is on a mission to become a significant player in the US graphite supply chain as its future plans are to mine, process, manufacture, and recycle graphite anode materials. It is anticipated that this will primarily supply the US lithium-ion EV battery market and energy storage systems. As set forth in the company's 2022 pre-feasibility study, graphite mineralization mined from the company’s Graphite Creek property in Alaska would be processed into concentrate at an adjacent processing plant. Then, natural and artificial graphite anode active materials and other value‐added graphite products would be manufactured from the concentrate and other materials at G1’s proposed advanced graphite materials manufacturing facility located in northeastern Ohio. Graphite One intends to make a production decision on the project upon the completion of its feasibility study. Company CEO and President Anthony Huston recently attended a White House meeting on investment and job creation 5, including the strategic Critical Mineral sector. Huston was among a select group of company leaders invited to the event by President Joseph R. Biden. G1's management team excels in mine construction, process control design, and facility management. Their extensive expertise ensures efficient operations and a commitment to cost efficiency to maximize profitability. Graphite One has assembled a team of individuals who are not just capable but are ready to drive business growth and deliver enduring value to stakeholders over the long term. Discover more about Graphite One's plans to transform the U.S. graphite industry. Data Sources: S&P Global Mobility. BriefCASE: US facing challenges in its attempts to diversify its graphite supply chain, March 20, 2024. https://www.spglobal.com/mobility/en/research-analysis/us-graphite-supply-chain-expansion-dimming-import-needs.html U.S. Geological Survey. Insights into the metamorphic history and origin of flake graphite mineralization at the Graphite Creek graphite deposit, Seward Peninsula, Alaska, USA, February 27, 2023. https://link.springer.com/article/10.1007/s00126-023-01161-3 World Bank Group. Minerals for Climate Action: The Mineral Intensity of the Clean Energy Transition, 2020. https://pubdocs.worldbank.org/en/961711588875536384/Minerals-for-Climate-Action-The-Mineral-Intensity-of-the-Clean-Energy-Transition.pdf Whitehouse.gov. Building Resilient Supply Chains, Revitalizing American Manufacturing, And Fostering Broad-Based Growth, June 2021. https://www.whitehouse.gov/wp-content/uploads/2021/06/100-day-supply-chain-review-report.pdf Graphite One Inc. Graphite One CEO and President, Anthony Huston, Invited by President Biden to White House Investment and Job Creation Session; White House Sets 25% Tariff on Chinese Graphite. May 15, 2024. https://www.graphiteoneinc.com/graphite-one-ceo-and-president-anthony-huston-invited-by-president-biden-to-white-house-investment-and-job-creation-session-white-house-sets-25-tariff-on-chinese-graphite/ IMPORTANT NOTICE AND DISCLAIMER PAID ADVERTISEMENT This communication is a paid advertisement. ValueTheMarkets is a trading name of Digitonic Ltd, and its owners, directors, officers, employees, affiliates, agents and assigns (collectively the “Publisher”) is often paid by one or more of the profiled companies or a third party to disseminate these types of communications. In this case, the Publisher has been compensated by Graphite One Inc. to conduct investor awareness advertising and marketing and has paid the Publisher the equivalent of fifty thousand US dollars per month for a 12-month period starting 24 April 2024 until 23 April 2025 to produce and disseminate this and other similar articles and certain related banner advertisements. 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July 05, 2024 11:34 AM Eastern Daylight Time
News Release
