Graphite One Inc., planning a complete domestic U.S. supply chain for advanced graphite materials, announced today that it has entered into a non-binding supply agreement with Lucid Group, Inc., maker of the world's most advanced electric vehicles, for anode active materials.

"We are committed to accelerating the transition to sustainable vehicles and the development of a robust domestic supply chain ensures the United States, and Lucid, will maintain technology leadership in this global race," said Peter Rawlinson, CEO and CTO at Lucid. "Through work with partners like Graphite One, we will have access to American-sourced critical raw materials, helping power our award-winning vehicles made with pride in Arizona."

"This is a historic moment for Graphite One, Lucid and North America: the first synthetic graphite Supply Agreement between a U.S. graphite developer and U.S. EV company," said Anthony Huston, President and CEO of Graphite One. "G1 is excited to continue pushing forward developing our 100% U.S. domestic supply chain. We appreciate the support from our investors and the grant from the Department of Defense. Subject to project financing required to build the AAM facility, the Supply Agreement with Lucid puts G1 on the path to produce revenue in 2027, and that's just the beginning for Graphite One as work to meet market demands and create a secure 100% U.S.-based supply chain for natural and synthetic graphite for U.S. industry and national security."

The Supply Agreement follows Graphite One's selection in March of this year of a site for the Company's proposed AAM facility. The location, a brownfield site in Warren, Ohio previously used for storage of National Defense Stockpile critical minerals by the U.S. Government, is located in the heart of the automobile industry, in an area with ample low-cost electricity produced from renewable energy sources. The site's existing power lines are sufficient for Graphite One's Phase 1 production target of 25,000 tonnes per year ("tpy") of battery-ready anode material, and land is available for follow-on phases to ramp to 100,000 tpy of production.

Lucid is a California-based technology company focused on creating the most advanced EVs in the world. The company's flagship vehicle, Lucid Air, delivers best-in-class performance and efficiency starting at $69,900 and has been recognized with a number of leading awards, including MotorTrend 2022 Car of the Year, World Luxury Car of the Year, and Car and Driver 10 Best. Lucid is preparing its state-of-the-art, vertically integrated factory in Arizona to begin production of the Lucid Gravity SUV.

continues to develop its Graphite One Project to become an American producer of high-grade anode materials that is integrated with a domestic graphite resource. The Project is proposed as a vertically integrated enterprise to mine, process and manufacture anode active materials primarily for the lithium-ion electric vehicle battery market. As set forth in the Company's 2022 Pre Feasibility Study, graphite mineralization mined from the Company's Graphite Creek Property, situated on the Seward Peninsula about 60 kilometers north of Nome, Alaska, would be processed into concentrate at an adjacent processing plant. Natural and artificial graphite anode active materials and other value-added graphite products would be manufactured from the concentrate and other materials at the Company's proposed advanced graphite materials manufacturing facility located in northeastern Ohio. The Company intends to make a production decision on the Project upon the completion of a Feasibility Study.

 

Source: prnewswire.com

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