Westwater Resources Announces Off-Take Sales Agreement with Stellantis for Sale of Battery Grade Graphite from its Kellyton Plant.
Westwater Resources, Inc. (NYSE American: WWR), an energy technology and battery-grade natural graphite company (“Westwater Resources” or “Westwater”), today announced the execution of a binding off-take agreement with Fiat Chrysler Automobiles (“FCA”), a leading electric vehicle (“EV”) manufacturer and part of the Stellantis group of companies.
Pursuant to the terms of the Off-Take Agreement, Westwater will supply natural graphite anode material from its Kellyton Graphite Plant located near Kellyton, Alabama, to FCA’s battery partner plants located within the U.S. Under the terms of the Off-Take Agreement, FCA will be obligated to purchase, on an annual basis, a quantity of product equal to a percentage of their forecasted volume.
Frank Bakker, President and CEO of Westwater Resources, said:
The contract with FCA is an important achievement for Westwater and a key step in the process of securing the remainder of construction financing for Kellyton Phase I construction.
“We are honored to partner with one of the world’s leading manufacturers of EVs and to assist FCA in securing a U.S.-based supply chain for natural graphite anode material,” added Terence Cryan, Executive Chairman of Westwater.
Jon Jacobs, Westwater’s Chief Commercial Officer, added:
With this deal, Westwater has now secured off-take agreements for 100% of its Kellyton Phase 1 capacity.
“Our team has worked hard to establish itself as an industry leader in the supply of U.S.-produced natural graphite, and we remain focused on securing additional supply agreements for our expanded Phase 2 volume.”
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Westwater Resources Announces Off-Take Sales Agreement with Stellantis for Sale of Battery Grade Graphite from its Kellyton Plant. source
