Nouveau Monde Graphite provides an update on its business plan targeting the battery and EV markets.
At Annual General and Special Meeting of Shareholders (the “Meeting”), Nouveau Monde Graphite Inc. (“Nouveau Monde” or the “Company”) (NYSE: NMG, TSXV : NOU; Frankfurt : NM9A) presented an update on its projects and corporate development and obtained approval of all Meeting items. The Company is rigorously executing its phased business plan as it strives to become the Western World’s largest, and North America’s only, fully integrated lithium-ion battery anode material producer.
Arne H Frandsen, Chairman of Nouveau Monde, commented:
What a transformative year this has been!
“From securing the environmental authorization for the Matawinie mining project and commercial partnership with Olin for the Bécancour battery material plant, to strengthening our sustainability commitment and elevating our visibility on capital markets, the progress made is substantial in all aspects of the Company.”
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“We are continuing to demonstrate how our de-risked development plan can support a scaled growth to help meet the exponential demand in high-quality battery anode material.”
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With a projected 410% growth through 2030 – the strongest growth of the key battery raw materials (Benchmark Mineral Intelligence, January 2021) – graphite is critical to support the global electrification and energy transition.
Nouveau Monde has continued to make progress towards the development of its vertically integrated business model with the objective of beginning commercial production by the end of 2023, in time for the projected graphite demand/offer imbalance.
Eric Desaulniers, Founder, President and CEO of Nouveau Monde, added
hanks to our Phase-1 production units for every step of our value chain, the foundation for our projects is now solidly in place to support the next phase of our development aimed at commercial production.
“The initial steps in the construction of the Matawinie mining project have begun with the first ore expected in Q4-2023 while the definitive feasibility study for our 45,000-tpa Bécancour battery material plant advances in parallel. Through our recent financing, we have rallied top-tier institutional investors to our unique business model anchored in sustainability and our long-term growth vision, thus providing us with the funds needed to support this continued development.”
At the Meeting, management presented its 12-month roadmap for this development:
- Production of fully-integrated anode material in its Phase 1 plant is scheduled for Q1-2022
Intensification of qualification of battery anode material and negotiation of long-term cornerstone supply agreement with future customers. - Commence construction of the Phase 2 Matawinie Mine project in Saint-Michel-des-Saints
Deliver a Definitive Feasibility Study for the Phase 2 Bécancour commercial anode material plant in the strategic location of Bécancour – land purchased and engineering advancing
Seek to secure a complete financing package for the Phase 2 Matawinie Mine project – Government / export credit agency financing. - Advance strategy to establish a European anode material facility, close to EU customers
Develop the blueprint for modular expansion to increase capacity to meet EV market demand.
Matters Voted upon at the Meeting
The Company also announced the results of voting at the Meeting. Each of the nine nominees listed in the Company’s management information circular dated May 20, 2021 provided in connection with the Meeting were elected as directors of the Company.
Shareholders also adopted all other resolutions submitted for their approval, including the appointment of PricewaterhouseCoopers LLP as the auditors of the Company to hold office until the close of the next annual meeting of the Company and the authority given to directors to set its compensation, and the ratification and confirmation of the stock option plan of the Company.
Highlights:
- Nouveau Monde is actively developing what is expected to be the Western World’s largest and most advanced project providing a localized and carbon-neutral alternative to Chinese supply of lithium-ion battery anode material
- Demonstration facilities support Nouveau Monde’s phased business plan and provide the samples required for qualification with potential customers
- Construction of the Matawinie mining project is set to commence and positions Nouveau Monde for an expected commercial production by the end of 2023
- Development of the Bécancour battery material plant aims at providing the value-added conversion facility that leverages the Company’s proprietary processes and green footprint
- Global trends for the electrification and clean energy transition are driving demand for natural graphite with a projected 410% growth through 2030
NOUVEAU MONDE PROVIDES AN UPDATE ON ITS BUSINESS PLAN TARGETING THE BATTERY AND EV MARKETS AND ANNOUNCES VOTING RESULTS FROM ITS ANNUAL GENERAL MEETING OF SHAREHOLDERS. MONTRÉAL, CANADA, June 30, 2021
