Graphite One and Lucid Supply Agreement Announced at US Capitol Briefing.
Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) (“Graphite One”, “G1” or the “Company”), planning a complete domestic U.S. supply chain for advanced graphite materials, took part on July 25, 2024 in a briefing held at the U.S. Capitol announcing a non-binding supply agreement (“Supply Agreement”) with Lucid (NASDAQ: LCID), maker of the world’s most advanced electric vehicles, for anode active materials (AAM).
Creation of an Alaska – Ohio – Arizona Supply Chain
Senators and Members of the House of Representatives underscored the significance of the Graphite One-Lucid agreement:
Senator Lisa Murkowski (R-AK) said:
I’m pleased that Graphite One and Lucid Motors are partnering to create a domestic supply chain for electric vehicles made in America from materials mined in Alaska.
“These companies represent the start and the end of the supply chain, and they have the right vision to help strengthen our economy, our competitiveness, our security, and our commitment to true sustainability. Graphite One is an excellent example of responsible resource development in Alaska, and this new partnership with Lucid only further solidifies their leadership.”
Senator Dan Sullivan (R-AK), said:
Graphite One’s partnership with Lucid Motors is a positive step towards opening up opportunities in Alaska to develop our abundant reserves of critical minerals and metals like graphite.
“It’s also significant for our country’s national security: We must end America’s dangerous dependence on China for critical minerals, which are increasingly necessary for alternative energy sources, advanced batteries, and defense technologies. Alaska can and will lead the way in unleashing America’s resource potential.”
Mary Peltola (D-AK), Congresswoman for Alaska, said:
I have always said that it is best to develop minerals and resources at home instead of relying on international and often adversarial supply lines. I am thrilled that Lucid has partnered with Graphite One to supply graphite for their cars.
“I hope they will continue to look to Alaska for minerals as we develop a robust and secure domestic supply chain to power our future.”
Congressman Dave Joyce (R-OH), said:
With manufacturing being one of Ohio’s largest economic drivers, I was proud to see Niles, Ohio chosen for Graphite One’s new advanced graphite production site. This new project will bring over 160 jobs to my district and spur even more economic growth in the area.
“By combining the resources from the new Ohio facility with the natural graphite mined in Alaska for Lucid’s cars manufactured in Arizona, we are showcasing the importance of developing critical mineral supply on American soil. I look forward to seeing the success of this project in Ohio and across the country.”
Congressman Juan Ciscomani (R-AZ), said:
My district is home to Lucid Motor’s state-of-the-art manufacturing facility.
“The partnership between Lucid Motors and Graphite One will strengthen our economy, bolster our domestic supply chain of critical minerals, and reduce our reliance on foreign entities for the materials needed to build electric vehicles. Securing a reliable supply of American-mined graphite will lower costs, drive innovation, and ensure Arizona remains a leader in the electric vehicle industry.”
Alaska support for the Graphite One-Lucid agreement extended from the Governor to the Bering Straits Native Corporation, owned by more than 8,200 Native Alaskan shareholders, which owns and manages a subsurface estate of approximately 2.1 million acres.
Alaska Governor Mike Dunleavy said:
I am delighted to see Alaska’s role in the announcement on Capitol Hill today that Graphite One, developer of the Graphite Creek Project.
Lucid Motors of Arizona have reached agreement on an offtake contract providing U.S.-made graphite anode material for U.S.-built electric vehicles – one major use of the rechargeable batteries that are transforming American technology and the U.S. economy.”
Dan Graham, CEO of Bering Straits Native Corporation, an investor in Graphite One, said:
This is the outcome of on-going hard work with great partners that will help transform America’s energy future.
“This project will strengthen national security and create not only a new domestic supply of graphite but the opportunity for new jobs and economic growth across the US. BSNC is proud to be a part of it.”
Graphite One’s Domestic Supply Chain Strategy
With the United States currently 100 percent import dependent for synthetic and natural graphite, Graphite One is developing a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek deposit, recognized by the US Geological Survey as the largest graphite deposit in the U.S. “and among the largest in the world.” Subject to project financing, the Graphite One Project plan includes an advanced graphite material and battery anode material manufacturing plant located in Warren, Ohio. The plan also includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the Ohio site, the third link in Graphite One’s circular economy strategy.
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Graphite One and Lucid Supply Agreement Announced at US Capitol Briefing. source
