Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) (“Graphite One” or the “Company”) announced today that Washington State is the chosen location for the Company’s advanced materials processing plant, which will bring battery anode production to the United States.
“This is a major step towards our 100% U.S.-based advanced graphite supply chain,” said Anthony Huston, President and CEO of Graphite One. “Washington State offers the opportunity for Graphite One to use a green energy source – Washington state hydro – to manufacture a green energy material. That’s core to our commitment at Graphite One to make our project a model of ESG in action.”
With energy being the largest single cost factor in advanced graphite anode production, Washington State hydro power is expected to provide Graphite One a significant advantage in keeping its production costs as low as possible. Washington State’s average 2021 electricity price to all industrial customers was 5.81 cents per KWh, compared to the U.S national average of 7.26 per KWh1.
President Joe Biden singled out graphite in his recent video conference on supply chains:
“To follow through on my commitment to say we were going to make it in America and build it America… we needed a supply chain that was reliable… including critical materials like lithium, graphite, and rare earth materials, which are badly needed for so many American products.”2
Graphite One is in active and ongoing discussions with Washington State public authorities to determine where the facility will be located. The facility is expected to support approximately 130 high-wage jobs.
The advanced materials anode manufacturing facility is the downstream link in Graphite One’s 100% U.S.-based advanced graphite supply chain. While the Washington State facility would be engineered to accept multiple feedstocks required for anode production, the anchor source for the facility would be the Company’s resource near Nome, Alaska, which hosts North America’s largest known natural graphite deposit.
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1 U.S. Energy Information Administration; Electric Power Monthly with Data for December 2021; Table 5.6.B. Average Price of Electricity to Ultimate Customers by End-Use Sector, by State |
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2 https://www.whitehouse.gov/briefing-room/speeches-remarks/2022/02/22/remarks-by-president-biden-at-a-virtual-event-on-securing-critical-minerals-for-a-future-made-in-america/ |
Market Awareness Program
As part of Graphite One’s ongoing strategy to raise the profile of the Graphite One Project to investors, the Company has entered into an agreement with TD Media LLC dba Life Water Media LLC, of Houston, Texas (“TD Media”) whereby TD Media will provide digital marketing services including content creation, distribution, and market awareness campaigns for a monthly fee of US$100,000 per month for a six (6) month term. The contract can be terminated with 30 days’ written notice. Neither TD Media nor any of its principals currently own any common shares, directly or indirectly, in the Company.
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