Altech Batteries

Altech – Excellent Progress on ABS60 60kWh Cerenergy® Battery Prototypes

Altech Batteries Limited (Altech/the Company) (ASX: ATC and FRA: A3Y) is providing an update on the advancement of its ABS60 60 kWh CERENERGY® battery prototypes.


Highlights

  • Excellent progress with two 60 kWh battery pack prototypes
  • Pilot plant re-design at Fraunhofer IKTS Hermsdorf for prototype manufacture
  • All prototype materials have been procured from suppliers
  • Ceramic tube manufacture is 50% complete
  • Cell assembly progressing well with more than half completed
  • Low reject and defect rates experienced
  • Two battery vacuum casings delivered and undergoing heat loss testing
  • Finalisation of prototypes will be mid 2024

The manufacturing of two such batteries dedicated to customer performance testing commenced last year. Altech’s joint venture partner, German government owned Fraunhofer IKTS, had initially developed battery packs with capacities of 5 kWh and 10 kWh units. However, with the establishment of the joint venture with Altech, a significant upgrade was undertaken, resulting in the transformation of the battery pack into a substantial 60 kWh unit specifically designed for the grid storage market. Production of two of these substantial 60 kWh battery packs was initiated for the purpose of conducting performance tests and qualifying them for customer use.

The pilot line at Fraunhofer IKTS, situated in Hermsdorf, Germany, has undergone a comprehensive redesign to facilitate the manufacturing of 60 kWh battery prototypes. Innovative tools and machinery have been developed and implemented specifically for producing the battery cells required for the 60 kWh prototypes. The battery pack is composed of 240 CERENERGY® cells, each rated at 2.5 V. These cells are organised in 4 rows, each comprising 12 cells, and stacked 5 modules high. The dimensional specifications of the battery packs are 2.6 meters in height, 0.4 meters in length, and 1.0 meter in width. Ensuring adherence to the Ingress Protection (IP) 65 standard, the packs are designed to be dust and weatherproof, reflecting high levels of sealing effectiveness for electrical enclosures.

All prototype materials have now been procured from specific suppliers. The crucial stages in cell production involve blending ceramic components, high-pressure pressing, tube formation, and ultimately sintering at 1,600 degrees celsius over a span of several days. Fraunhofer IKTS’ Hermsdorf pilot plant facility successfully navigated the entire ceramic tube production, with half of the required tubes now manufactured. The battery cathode electrolyte, comprising sodium chloride and nickel powder granules, was produced using the mixing and pelletising equipment at the Hermsdorf pilot plant. The process of cell assembly, encompassing vacuum filling, heating, and welding, is ongoing, resulting in the completion of approximately half of the cells. To facilitate the infiltration of cathode material into multiple battery cells simultaneously, a vacuum chamber was developed. Promising pass results were obtained from laser welding tests on the battery cells conducted at Precitec GmbH & Co. KG

Figure 2 – Production of battery cells at Fraunhofer IKTS Hermsdorf pilot plant facility

In order to confirm the precise alignment of all components following the welding closure of each prototype cell, a thorough examination is conducted using an industrial micro computed tomography (µCT) scanning system. This ensures the verification of filling height, composition, alignment, and the behavior of cathode material post cell initialisation. Upon successful completion of the µCT quality assurance, individual cells undergo charge and discharge performance tests, all of which have demonstrated satisfactory and as expected results thus far. As of now, fifty percent of the necessary cells have been successfully produced, showcasing excellent progress. Reject or defect rates have been low and with expected limits.


Click here for the full ASX Release

This article includes content from Altech Batteries, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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VIDEO: Altech Batteries Ltd Silumina Anodes Project DFS Expands Output 8-Fold to 120GWh

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is pleased to announce that during the finalisation of the Silumina Anodes TM project Definitive Feasibility Study (DFS), Altech has managed to expand the project's output by eightfold, increasing the capacity from 15 gigawatt-hours (GWh) to 120 GWh, with no change to plant and equipment. This significant expansion will effectively cater to the long-term demand for silicon-type anodes within the industry.

Initially, as per the original DFS scope, Altech had proposed the production of 10,000 tons per annum (tpa) of Silumina Anodes TM product, comprising 1,000 tpa of high-purity alumina-coated metallurgical silicon incorporated into 9,000 tpa of similarly coated graphite (10% mix). The plant will now focus on solely producing alumina-coated metallurgical silicon product at a rate of 8,000 tpa. This product will be integrated into the graphite by the customers within their battery plants rather than at Altech's facility.

As a result of this increased production of the 'active' component, the output has expanded by a significant eightfold, rising from 15 GWh to 120 GWh.

According to feedback from potential customers, utilising their existing qualified graphite source is a priority.

Furthermore, although there is a marginal advantage in using alumina-coated graphite, the primary appeal for potential customers lies in integrating Altech-coated silicon into their battery products. Despite initial considerations regarding the benefits of coating graphite with alumina, such as the reduction of first-cycle loss, Altech's research has demonstrated that the cost-to-reward ratio for graphite is relatively minimal.

This recent adjustment to "all silicon" is expected to yield substantial improvements in the bottom-line economics. The most notable advantage lies in the ability to crack the silicon code, preventing expansion defragmentation, as well as curbing the significant first-cycle loss associated with silicon.
Battery manufacturers have the choice to either produce batteries with higher energy density or maintain their current energy density while reducing the graphite content. By decreasing the use of graphite, the cost of producing batteries can be reduced. However, the recent news about China, which accounts for approximately 90% of the global production of lithium-ion battery graphite, imposing limitations on the worldwide export of graphite, has begun to create challenges for battery manufacturers in Europe and the USA.

Altech is currently in talks with Ferroglobe, the European silicon partner of Altech, to boost the supply of metallurgical silicon for the enhanced Silumina Anodes TM project. Moreover, the Company has executed non-disclosure agreements (NDAs) with prominent automotive conglomerates in Europe and the United States, who have shown keen interest in acquiring commercial samples for their testing and qualification procedures. Considering the limited production capacity of Altech's R&D laboratory in Perth, the larger samples will be procured from the Silumina Anodes TM Pilot Plant in Saxony. The Pilot Plant is nearing completion and is expected to be operational in the early part of the upcoming year.

Managing Director Iggy Tan emphasised that the substantial increase in Silumina Anodes TM output by eightfold, achieved without significant changes in the plant or capital costs, represents a notable advancement in Altech's business strategy. Mr Tan highlighted the increasing demand in the lithium-ion battery industry for higher-density batteries, emphasising the necessity to reduce reliance on graphite, particularly in light of the export restrictions imposed by China. Mr Tan expressed confidence that the incorporation of Altech's alumina-coated silicon would assist battery customers in addressing these concerns. Mr Tan further conveyed his enthusiasm regarding the enhanced business model, indicating a positive outlook for the company's future endeavours.

To Watch the Video, please visit:
https://www.abnnewswire.net/lnk/V1264337



About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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Altech Batteries Ltd Optimised Design of CERENERGY Battery Pack

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is pleased to announce that optimised design of the Company's 60KWh battery pack is now completed following final design collaborations with component suppliers.

The 60 KWh battery pack design has undergone a makeover, now sporting a sleek stainless-steel exterior (previously painted blue) with the prominent CERENERGY(R) logo on top and "Altech Batteries" engraved at the bottom. The Company has increased confidence that the stainless-steel finish will have a better ability to endure extreme temperature variations, be it in snowy or desert conditions, while maintaining its pristine appearance.

The battery's casing is equipped with a vacuum-sealed, double-sided enclosure that provides optimal insulation. Operating at approximately 270 degrees Celsius internally, it is crucial to minimise heat transfer losses and ensure the safety of human contact with the battery's exterior. The base of the battery has been further reinforced to accommodate high-temperature-resistant electrical cables and connectors, minimising heat loss to the outside environment.

To counter the issue of cold starting, heating pads have been integrated into the internal vacuum-packed casing. The heating process typically takes around ten hours before the battery is fully activated. Once initialised, the battery efficiently sustains its internal temperature with minimal reliance on the heating pads.

Further enhancements have been made to the five internal frames each housing 48 cells, optimising their performance. The connector plates, responsible for electrically linking the cells while maintaining insulation (using mica insulation), have been meticulously designed by the Altech team. The cells are connected through precise laser-targeted welding. Figure 2* shows the cross-section of the pack casing and assembly frames holding 48 cells in each frame.

Prototype Battery Packs

As announced previously, two working prototype ABS60 KWh batteries have been ordered from the Fraunhofer Institute partners. These packs are already in production, with roughly half of the required cells completed. The production capacity is limited by the size of pilot plant equipment and kiln capacity at the Fraunhofer Institute but excellent progress has been made. To date, completed cells are performing as expected.

Whilst the cells are being fabricated, the first stainless-steel vacuum-sealed battery case has been delivered to the Fraunhofer Institute in Dresden. Prior to assembly of the battery cells, the battery casing will undergo comprehensive heat transfer loss testing as well as temperature profiling by the Fraunhofer scientists. The cells will be assembled in the pack once they are completed and further cycling and long-term performance tests will be conducted on the battery packs.

Following a recent workshop in Germany, Group Managing Director Iggy Tan commented on the optimisation of the battery design and progress of the prototypes and stated "We are extremely pleased with the new stainless-steel design of the 60 KWh batteries. These will be able to operate in the snow, as well as desert conditions, without the finish being affected. The vacuum-sealed casing will provide the perfect insulation and minimise any heat loss, which is the key benefit of our sodium chloride solid-state batteries. The production of the prototype batteries is progressing well. The produced cells are performing well under bench performance testing and it will be great to see the whole 60KWh unit under performance load. This is the first time our partner Fraunhofer has made such a large battery unit".

*To view photographs, please visit:
https://abnnewswire.net/lnk/OUSZ76O6



About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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Altech Batteries Ltd Investor Webinar Presentation

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is pleased to invite shareholders to attend an investor webinar on The Watchlist, to be held on Tuesday 26 September 2023 at 12:00pm AEST/ 10:00am AWST.

Managing Director Iggy Tan will provide an update on the progress of Altech's exciting CERENERGY(R) sodium-chloride solid state battery project, destined for the lucrative and growing grid storage energy market. Made with common table salt, CERENERGY(R) batteries are fire and explosion proof, can operate in a wide range of temperatures and do not rely on lithium, copper, cobalt, graphite and manganese, which are all commonly used in lithium-ion batteries.

Following the presentation, attendees will have the opportunity to ask questions directly to Mr Tan during a moderated Q & A session.

This webinar can be viewed live via zoom & you register via the link below.
https://www.abnnewswire.net/lnk/6PH35RZ7

A recorded copy of the webinar will be made available following the event.



About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

News Provided by ABN Newswire via QuoteMedia

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Altech Batteries Ltd AGM Letter to Shareholders

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) invites you to attend the 2023 Annual General Meeting (AGM) to be held virtually, as well as at Altech's office at Suite 8, 295 Rokeby Road, Subiaco, Australia on Friday 27 October 2023 at 2.00pm (AWST).

In accordance with section 110D of the Corporations Act 2001 (Cth) (as inserted by the Corporations Amendment (Meetings and Documents Act) 2022 (Cth)), the Company will not be sending hard copies of the Notice of Annual General Meeting unless a Shareholder has elected to receive documents in hard copy in accordance with the timeframe specified in section 100E(8) of the Corporations Amendment (Meetings and Documents Act) 2022 (Cth). Instead, the Notice of Annual General Meeting will be made available as follows:

- At the Company's website at www.altechgroup.com ; and

- At the ASX announcements platform under the Company's ASX code ATC; and

- If you have provided the Company's share registry with an email address, it will be electronically emailed to your nominated email address.

Shareholders are encouraged to vote by proxy online at:
https://www.abnnewswire.net/lnk/7526PRZ2
in accordance with the instructions set out on the proxy form.

In order to receive electronic communications from the Company in the future, please update your shareholder details online via the above link and login with your unique shareholder identification number and postcode (or country for overseas residents), which you can find on your enclosed personalised proxy form. Once logged in you can also lodge your proxy vote online by clicking on the "Vote" tab.



About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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Altech Batteries Ltd Environmental, Social & Governance Update

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is pleased to advise that it has prepared its inaugural Environmental, Social and Governance (ESG) Report.

Altech is committed to the principles of ESG as the most effective means of creating long-term enterprise value and addressing the societal priorities enshrined in the United Nations' Sustainable Development Goals. In February 2023, Altech made a commitment to commence reporting on the ESG disclosures of the Stakeholder Capitalism Metrics of the World Economic Forum.

As Altech continues with its purpose of revolutionising energy storage and battery materials in order to support the energy transition from a fossil fuel carbon-based economy to a renewable energy economy, and as its CERENERGY(R) sodium-chloride solid state battery project as well as its Silumina AnodesTM battery materials projects advance, the Company is committed to meeting ESG best practice. The ESG report will continue to evolve and progress as Altech achieves its objectives.

Managing Director and CEO Mr Iggy Tan stated that "As we continue to grow, our purpose will guide us in making decisions that benefit our stakeholders, including our employees, shareholders, customers and the wider community. We will do this by bringing to market batteries and battery materials that meet the growing demand for sustainable electric solutions. Our innovative approach provides an opportunity to transform the industry, generate long-term growth, and create a positive impact on the environment".

To view the Altech ESG Report, please visit:
https://www.abnnewswire.net/lnk/SY18BP1B



About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

News Provided by ABN Newswire via QuoteMedia

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Analyst Firm Cites Altech’s ‘Revolutionary’ Battery Tech as Basis for Valuation Upside

Description:

Australian analyst firm East Coast Research has given Altech Batteries (ASX:ATC,FRA:A3Y) a valuation range of AU$0.15 to AU$0.21 cents per share, a 188.8 percent upside from its current share price of $0.06 cents. This is based on Altech’s highly promising Silumina Anodes battery technology project.

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MASON RESOURCES CONGRATULATES NOUVEAU MONDE GRAPHITE FOR GROUNDBREAKING ANNOUNCEMENTS SECURING OFFTAKES WITH PANASONIC ENERGY AND GM ALONG WITH STRATEGIC FINANCINGS

Mason Resources Inc. (" Mason ") (TSXV: LLG) (OTCQX: MGPHF) congratulates Nouveau Monde Graphite Inc. ("NMG") (NYSE: NMG) (TSXV: NOU) on its truly groundbreaking milestones, securing unprecedented binding offtake agreements with both Panasonic Energy and GM, as well as securing strategic financings. Mason is proud to be a 9.25% strategic shareholder of NMG (see press release dated January 22, 2024 ).

Mason Graphite Inc. Logo (CNW Group/Mason Resources Inc.)

The three (3) press releases issued earlier today can be found on NMG's website at the following:

NMG Announces Offtake Agreement with GM for Canadian Graphite and US$150 Million Equity Investment:

https://nmg.com/binding-offtake-gm/

NMG and Panasonic Energy Announce Binding Offtake Agreement and US$25 Million Private Placement to Secure the Supply of Active Anode Material for North American Battery Production

https://nmg.com/binding-offtake-panasonic/

NMG Secures Multiyear Offtakes and total US$87.5 Million Investment from Anchor Customers and Strategic Investors to Underpin its Phase 2 Ore-to-Battery-Material Graphite Operations

https://nmg.com/private-investment-offtake/

About Mason Resources Inc.

Mason Resources Inc. is a Canadian corporation focused on seeking investment opportunities. Mason currently owns 9.25% of NMG and is the largest shareholder (39%) of Black Swan Graphene Inc. (" Black Swan ") (TSX.V: SWAN) (OTCQB: BSWGF) focusing on the large-scale production of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete and polymers, which are expected to require large volumes of graphene and, in turn, large volumes of graphite. Black Swan aims at leveraging Québec's emerging graphite industry to establish an integrated supply chain. In 2023, Black Swan, Nationwide Engineering Research & Development Ltd., and Arup Group Ltd. announced strategic partnerships and, in 2024, Black Swan announced a commercial agreement with Hubron International Ltd. Black Swan's graphene processing technology was developed over the span of a decade by Thomas Swan & Co. Ltd., a United Kingdom -based global chemicals manufacturer, with a century-long track record.

For more information: www.masonresourcesinc.com and www.blackswangraphene.com .

About Nouveau Monde Graphite

Nouveau Monde Graphite is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada , for the growing lithium-ion and fuel cell markets. With enviable ESG standards, NMG aspires to become a strategic supplier to the world's leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability.

For more information: www.NMG.com

Mason Resources Inc. on behalf of the Board of Directors
Peter Damouni , President & Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/mason-resources-congratulates-nouveau-monde-graphite-for-groundbreaking-announcements-securing-offtakes-with-panasonic-energy-and-gm-along-with-strategic-financings-302063314.html

SOURCE Mason Resources Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/15/c9792.html

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NMG Announces Offtake Agreement with GM for Canadian Graphite and US$150 Million Equity Investment

NMG is Developing What is Projected to Be the First Fully Integrated Source of Natural Graphite Active Anode Material in North America

+ NMG and GM have agreed to sign a multiyear supply agreement for 18,000 tonnes per annum of active anode material, covering a significant portion of NMG's expected Phase-2 integrated production, from graphite ore to battery materials.

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NMG Announces Offtake Agreement with GM for Canadian Graphite and US$150 Million Equity Investment

NMG is Developing What is Projected to Be the First Fully Integrated Source of Natural Graphite Active Anode Material in North America

+ NMG and GM have agreed to sign a multiyear supply agreement for 18,000 tonnes per annum of active anode material, covering a significant portion of NMG's expected Phase-2 integrated production, from graphite ore to battery materials.

News Provided by Business Wire via QuoteMedia

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NMG Secures Multiyear Offtakes and total US$87.5 Million Investment from Anchor Customers and Strategic Investors to Underpin its Phase 2 Ore-to-Battery-Material Graphite Operations

  • Panasonic Energy and GM (together, the "Anchor Customers") concurrently commit to multiyear offtake agreements for NMG's active anode material, covering approximately 85% of NMG's planned Phase-2 fully integrated production, from ore to battery materials.
  • Offtake agreements are complemented by an aggregate US$50 million Tranche 1 Investment from Panasonic and GM to advance the development of NMG's Phase-2 Matawinie Mine and Bécancour Battery Material Plant as per their respective specifications.
  • Strategic partner Mitsui and long-time investor Pallinghurst inject a total of US$37.5 million into NMG's development, the aggregate proceeds of which will be used to repurchase their previously announced convertible notes.
  • Offtake agreements and investments support NMG's execution plan for its Phase-2 Matawinie Mine and Bécancour Battery Material Plan, marking a significant milestone toward future funding by Anchor Customers of up to US$275 million, subject to certain conditions and a maximum ownership threshold agreed between the relevant parties.
  • Shareholders, analysts, and media are invited to attend an Investor Briefing today at 10:30 a.m. ET hosted by NMG's Management Team via webcast .

On the back of agreed-upon offtake agreements with Panasonic Energy Co., Ltd. ("Panasonic Energy"), a wholly owned subsidiary of Panasonic Holdings Corporation ("Panasonic") (TYO: 6752), and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co. (collectively, "GM") ( NYSE: GM ), Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE: NMG , TSX.V: NOU ) has rallied Mitsui & Co., Ltd ("Mitsui") (TYO: 8031) and Pallinghurst Bond Limited ("Pallinghurst") for an aggregate combined investment of US$87.5 million to advance its development toward commercial operations. Projected to become the first fully integrated natural graphite active anode material production of its kind in North America, NMG is set to provide a carbon-neutral, reliable, sizeable, and ESG-driven source of Canadian natural graphite for the local electric vehicle ("EV") and lithium-ion battery market.

News Provided by Business Wire via QuoteMedia

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NMG Secures Multiyear Offtakes and total US$87.5 Million Investment from Anchor Customers and Strategic Investors to Underpin its Phase 2 Ore-to-Battery-Material Graphite Operations

  • Panasonic Energy and GM (together, the "Anchor Customers") concurrently commit to multiyear offtake agreements for NMG's active anode material, covering approximately 85% of NMG's planned Phase-2 fully integrated production, from ore to battery materials.
  • Offtake agreements are complemented by an aggregate US$50 million Tranche 1 Investment from Panasonic and GM to advance the development of NMG's Phase-2 Matawinie Mine and Bécancour Battery Material Plant as per their respective specifications.
  • Strategic partner Mitsui and long-time investor Pallinghurst inject a total of US$37.5 million into NMG's development, the aggregate proceeds of which will be used to repurchase their previously announced convertible notes.
  • Offtake agreements and investments support NMG's execution plan for its Phase-2 Matawinie Mine and Bécancour Battery Material Plan, marking a significant milestone toward future funding by Anchor Customers of up to US$275 million, subject to certain conditions and a maximum ownership threshold agreed between the relevant parties.
  • Shareholders, analysts, and media are invited to attend an Investor Briefing today at 10:30 a.m. ET hosted by NMG's Management Team via webcast .

On the back of agreed-upon offtake agreements with Panasonic Energy Co., Ltd. ("Panasonic Energy"), a wholly owned subsidiary of Panasonic Holdings Corporation ("Panasonic") (TYO: 6752), and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co. (collectively, "GM") ( NYSE: GM ), Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE: NMG , TSX.V: NOU ) has rallied Mitsui & Co., Ltd ("Mitsui") (TYO: 8031) and Pallinghurst Bond Limited ("Pallinghurst") for an aggregate combined investment of US$87.5 million to advance its development toward commercial operations. Projected to become the first fully integrated natural graphite active anode material production of its kind in North America, NMG is set to provide a carbon-neutral, reliable, sizeable, and ESG-driven source of Canadian natural graphite for the local electric vehicle ("EV") and lithium-ion battery market.

News Provided by Business Wire via QuoteMedia

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