Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) announced a non-binding supply agreement with Lucid Group, Inc. (NASDAQ: LCID) for synthetic graphite anode active materials.

Graphite One and Lucid Collaborate on Synthetic Graphite

Graphite One Inc. and Lucid Group, Inc. have entered into a non-binding supply agreement. This agreement marks a significant milestone, being the first of its kind between a U.S. graphite developer and a U.S. electric vehicle (EV) manufacturer.

Statements from Leadership

Peter Rawlinson, CEO of Lucid, expressed his commitment to accelerating the transition to sustainable vehicles and maintaining technology leadership in the global EV market. Anthony Huston, CEO of Graphite One, highlighted this as a historic moment for both companies and North America.

Details of the Agreement

The supply agreement outlines the provision of 5,000 tonnes per annum (tpa) of synthetic graphite once Graphite One commences production. The initial term is set for 5 years, subject to earlier termination.

Graphite One’s Domestic Supply Chain Strategy

Graphite One is developing a U.S.-based, advanced graphite supply chain anchored by the Graphite Creek deposit, one of the largest in the world. The plan includes building an advanced graphite material and battery anode material manufacturing plant in Warren, Ohio, as well as a recycling facility.

About Graphite One

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 includes mining, processing, and manufacturing anode active materials primarily for the lithium-ion EV battery market.

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