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Graphite One CEO Invited by President Biden to White House Session; 25% Tariff on Chinese Graphite

Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF), has announced that CEO and President, Anthony Huston, was among a select group of company leaders invited by President Joseph R. Biden to a White House meeting. The meeting focused on investment and job creation, including the strategic Critical Mineral sector.

President Biden Sets 25% Tariff on Chinese Graphite

Hours before the White House event, President Biden signed an Executive Order establishing a 25% tariff on Chinese imports, including natural graphite. The President spoke about the tariff in the Rose Garden on Tuesday, May 14, 2024. The White House noted that the concentration of critical minerals mining and refining capacity in China leaves supply chains vulnerable and poses a risk to national security and clean energy goals. The tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026. The 25% tariff on Chinese synthetic graphite is currently under an exclusion that expires at the end of May.

Graphite One’s Commitment to Renewable Energy

Anthony Huston expressed his gratitude for President Biden’s support. Huston emphasized the importance of projects like Graphite One’s in various areas, including industrial investment, job creation, the renewable energy transition, technology development, and national security. The meeting highlights Graphite One’s commitment to creating a secure, 100% US-based supply chain for natural and synthetic graphite.

Progress on Ohio Graphite Plant and DoD Grants

Graphite One recently completed initial planning sessions at the Ohio site chosen for G1’s battery anode active material production plant. The company continues to make progress on its two Department of Defense grant projects. G1 senior management met with project consultants and local companies expected to supply goods and services. Following its commitment to hire from local communities near the Graphite Creek deposit north of Nome, Alaska, G1 has prioritized hiring and workforce training in the Appalachia Ohio region. The company is developing project labor agreements with local Ohio construction unions and has received support from more than two dozen Ohio organizations, including universities involved in technology development and workforce training.

Defense Logistics Agency Visit

A week prior to the White House meeting, Graphite One senior management took part in a Defense Logistics Agency (DLA) visit to partner Vorbeck Materials’ facilities in Maryland. The visit marked the halfway point in a $4.7 million project to develop a graphite and graphene-based foam fire suppressant as an alternative to PFAS materials. During a May 2024 project review session with the DoD project team, Graphite One outlined actions related to the 2024 field season at the Graphite Creek deposit. Work remains on schedule to complete the feasibility study by December 2024, subject to financing.

Graphite One’s U.S.-Based Supply Chain Strategy

With the U.S. currently dependent on imports for natural and synthetic graphite, Graphite One is developing a complete U.S.-based, advanced graphite supply chain. This strategy is anchored by the Graphite Creek deposit, recognized by the US Geological Survey as the largest graphite deposit in the U.S. The project includes an advanced synthetic graphite material and battery anode material manufacturing plant in Warren, Ohio, and a recycling facility to reclaim graphite and other battery materials. This forms the third link in Graphite One’s non-linear circular economy strategy.

About Graphite One Inc.

Graphite One Inc. continues to develop its Graphite One Project to become an American producer of high-grade anode materials 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. The company intends to make a production decision on the project upon completion of a feasibility study.

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