Graphite One and Lucid Enter into Second Non-Binding Supply Agreement Agreement involves Natural Graphite Material; complements existing 2024 agreement covering Synthetic Anode Active Materials Follows Graphite One's listing on U.S. Federal Fast-41 Permitting Dashboard and completion of its NI 43-10
Graphite One and Lucid Enter into Second Non-Binding
Supply Agreement
Agreement involves Natural Graphite Material; complements existing 2024 agreement covering Synthetic Anode Active
Materials
Follows Graphite One's listing on U.S. Federal Fast-41 Permitting Dashboard and completion of its NI 43-101 compliant
Feasibility Study funded by a
$37.3 million
Department of Defense award under the Defense Production Act
Graphite One CEO,
Anthony Huston
: "This Agreement makes Graphite One the only company to date to provide both
natural and synthetic graphite materials required for battery anodes to a U.S. EV company."
VANCOUVER, BC
,
June 4, 2025
/CNW/ - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) ("
Graphite One
", or the
"
Company
"), is pleased to announce that as part of its plan to build a complete U.S. supply chain for advanced graphite materials,
the Company has entered into a second non-binding supply agreement (the "
Supply Agreement
") for anode active materials
("
AAM
") with Lucid Group, Inc. (NASDAQ: LCID) ("
Lucid
"), maker of the world's most advanced electric vehicles.
Whereas the previous agreement announced in
July 2024
involved synthetic graphite AAM, the agreement announced today covers
natural graphite AAM which will be supplied to Lucid and its battery cell suppliers for use in future vehicles.
"This agreement complements the deal we struck with Lucid in 2024 – which marked the first synthetic graphite agreement between
a U.S. graphite developer and a U.S. EV company. We made history then – and we're continuing to make history now, as the deal
makes Graphite One the only company to date to provide both natural and synthetic graphite materials required for battery anodes
to a U.S. EV company," said Graphite One CEO
Anthony Huston
. "From Presidential Executive Orders to increase mineral resource
production and leveraging
Alaska's
resource potential, to the recent inclusion of our Company on the Federal Fast-41 Permitting
Dashboard -- we are building momentum for our efforts to develop a fully domestic graphite supply chain, to meet market demands
and strengthen U.S. industry and national defense."
"A supply chain of critical materials within
the United States
drives our nation's economy, increases our independence against outside
factors or market dynamics, and supports our efforts to reduce the carbon footprint of our vehicles," said
Marc Winterhoff
, Interim
CEO at Lucid. "This partnership is another example of our commitment to powering American innovation and manufacturing with
localized supply chains."
The Supply Agreement follows publication of Graphite One's feasibility study prepared in accordance with National Instrument 43-
101 this spring, which with the support of Defense Production Act Title III funding, was completed 15 months ahead of schedule and
showed a tripling of the Company's proven and probable reserves.
Graphite One's domestic graphite supply chain is planned to produce graphite concentrate from the Graphite Creek deposit North of
Nome, Alaska
and AAM at a facility to be constructed in
Warren, Ohio
, subject to financing.
Terms of the Supply Agreement
The Supply Agreement is non-binding and commences once the Company begins production of natural graphite. The initial term is
for 5 years, subject to earlier termination. Sales are based on a price formula agreeable to both parties. The Supply Agreement is
subject to other terms, conditions and termination rights standard for an agreement of this nature.
About Lucid
Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The
award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and
unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in
Arizona
. Through its
industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.
Graphite One's Domestic Supply Chain Strategy
With
the United States
currently 100 percent import dependent for synthetic and natural graphite, Graphite One is developing a
complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek deposit, recognized by the US
Geological Survey as the largest graphite deposit in the U.S. "and among the largest in the world." The Graphite One Project plan
includes building an advanced graphite material and battery anode material manufacturing plant located in
Warren, Ohio
. The plan
also includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the
Ohio
site, the third link in
Graphite One's circular economy strategy.
About Graphite One Inc.
GRAPHITE ONE INC. (TSXV: GPH) (OTCQX: GPHOF) continues to develop its Graphite One Project (the "
Project
"), with the goal
of becoming an American producer of high grade anode materials that is integrated with a domestic graphite resource. The Project
is proposed as a vertically integrated enterprise to mine, process and manufacture high grade anode materials primarily for the
lithium
ion electric vehicle battery market.
On Behalf of the Board of Directors
"Anthony Huston" (signed)
For more information on Graphite One Inc., please visit the Company's website,
www.GraphiteOneInc.com
X @GraphiteOne
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
All statements in this release, other than statements of historical facts, including those related to entering into future binding
arrangements between Lucid and Graphite One, the anticipated benefits of the relationship between Lucid and Graphite One.,
future production, establishment of a processing plant and a graphite manufacturing plant, completion of project financing,
establishment of a battery materials recycling facility, and events or developments that the Company intends, expects, plans, or
proposes are forward-looking statements. Generally, forward
looking information can be identified by the use of forward
looking
terminology such as "proposes", "expects", "is expected", "scheduled", "estimates", "projects", "plans", "is planning", "intends",
"assumes", "believes", "indicates", "to be" or variations of such words and phrases that state that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be achieved". The Company cautions that there is no certainty that
the Company will enter into a definitive agreement with Lucid and even if the Company does enter into such arrangement, that the
anticipated outcomes will result. Although the Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of
mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party
opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued
availability of capital and financing, and general economic, market or business conditions. Readers are cautioned not to place
undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the
Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable
securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that
are available at
www.sedarplus.ca
.
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For further information:
Anthony Huston, CEO, President & Director, Tel: (604) 889-4251, Email: [email protected];
Investor Relations Contact; Tel: (604) 684-6730, [email protected]
CO: Graphite One Inc.
CNW 10:25e 04-JUN-25