Alabama Graphite (“Alabama Graphite” or the “Company”) (TSX-V:CSPG) (OTCQB:CSPGF) is pleased to announce that the Company has executed a Letter of Intent (“LOI”) with an established United States-based lead-acid battery manufacturer (the “Buyer”) to supply high-purity, natural flake premium Purified Micronized Graphite (“PMG”) product — marketed under the tradename ULTRA-PMG™ — and Delaminated Expanded Graphite (“DEXDG”) conductivity enhancement materials for applications in the negative electrodes of advanced lead-acid battery systems.
The identity of the Buyer, who has been in business for more than 50 years, is being withheld for reasons of commercial confidentiality.
Chief Executive Officer Donald Baxter commented:
“As evidenced by today’s announcement, battery companies are taking notice of AGC and its battery-ready technical developments, in addition to our potential sourced-in-USA benefits to potential customers.
To date, AGC has entered into 30 non-disclosure agreements (“NDAs”) with potential end users, several with household names — 14 with U.S. Department of Defense (“DoD”) battery manufacturers/contractors — of which, to date, evaluation samples have been sent to 23 potential end users.”