Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) announced a supply agreement with Lucid Motors (NASDAQ: LCID) for anode active materials. The agreement was made public during a briefing at the U.S. Capitol on July 25, 2024.

Alaska – Ohio – Arizona Supply Chain

Senators and Members of the House of Representatives highlighted the significance of this supply chain.

“Graphite One and Lucid Motors are setting up a domestic supply chain for electric vehicles made in America,” said Senator Lisa Murkowski (R-AK). “This partnership will help strengthen our economy and commitment to sustainability. Graphite One exemplifies responsible resource development in Alaska.”

“This agreement opens opportunities in Alaska to develop our reserves of critical minerals like graphite,” said Senator Dan Sullivan (R-AK). “It’s significant for our national security. We must end our dependence on China for critical minerals. Alaska will lead in unleashing America’s resource potential.”

Economic Growth and Job Creation

Congresswoman Mary Peltola (D-AK) said, “It’s best to develop minerals at home. I am thrilled that Lucid has partnered with Graphite One. This will help develop a robust domestic supply chain.”

Congressman Dave Joyce (R-OH) remarked, “Niles, Ohio has been chosen for Graphite One’s new advanced graphite production site. This project will bring over 160 jobs to my district and spur more economic growth.”

“Lucid Motors’ state-of-the-art manufacturing facility in my district will benefit from this partnership,” said Congressman Juan Ciscomani (R-AZ). “Securing a reliable supply of American-mined graphite will lower costs and drive innovation.”

Support from Alaska

Governor Mike Dunleavy said, “I am delighted about the agreement providing U.S.-made graphite anode material for U.S.-built electric vehicles. This is a significant step for America’s energy future.”

Dan Graham, CEO of Bering Straits Native Corporation, said, “This project will strengthen national security and create new jobs and economic growth across the US. BSNC is proud to be a part of it.”

Graphite One’s Domestic Supply Chain Strategy

Graphite One is working to develop a U.S.-based advanced graphite supply chain. This strategy is anchored by the Graphite Creek deposit in Alaska, recognized as the largest graphite deposit in the U.S. The project includes an advanced graphite material and battery anode material manufacturing plant in Warren, Ohio. A recycling facility to reclaim graphite and battery materials will also be part of the Ohio site.

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 aims to mine, process, and manufacture anode active materials for the lithium-ion electric vehicle battery market. The Graphite Creek Property in Alaska will supply mined graphite to be processed into concentrate, and further manufactured into value-added graphite products in Ohio. The Company intends to make a production decision upon the completion of the Feasibility Study.

On Behalf of the Board of Directors,
Anthony Huston (signed)
On X @GraphiteOne

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