NMG Provides Quarterly Update and Files 2025 ESG Report Amid Construction Start at the Matawinie Mine
NMG Provides Quarterly Update and Files 2025 ESG Report Amid
Construction Start at the Matawinie Mine
Financing structure secured for the Phase-2 Matawinie Mine including committed
US$335 million debt package with EDC and CIB; US$213 million private placement
with CGF, the Government of Québec via its agent IQ, and Eni; and an
oversubscribed bought deal public offering of subscription receipts for gross
proceeds of approximately US$96.5 million, which are respectively subject to certain
conditions precedents and closing conditions.
Phase-2 Matawinie Mine FID to be declared upon closing of the private placements
with CGF, IQ and Eni following the shareholders’ approval and the release of the
net proceeds from the bought deal public offering.
Construction activities initiated at the Matawinie site with integrated project team
and contractors mobilized onsite for the start of civil works; key contracts secured
covering more than 50% of projected CAPEX within financial estimates.
Signature of an LOI with Eni S.p.A. toward commercial discussions for a potential
15,000-tpa graphite concentrate offtake from the Phase-2 Matawinie Mine or
equivalent volume of active anode material.
Technical development and sustained advancement of a Class 3 AACE Estimate for
the 13-ktpa Bécancour Battery Material Plant.
Financing modeling and active engagement with targeted financial partners for the
13-ktpa Bécancour Battery Material Plant with a view to reach FID in H2-2026.
Active procurement activities to support the construction schedule of the Phase-2
Matawinie Mine and secure key contracts for the 13-ktpa Bécancour Battery
Material Plant.
Issuance of the 2025 ESG Report with continued leadership in environmental
stewardship, stakeholder engagement, human capital, governance, and responsible
practices.
Operational discipline, with no major environmental incidents, 12-month rolling
TRIFR of 2.98 at the Company’s facilities and 0 at the Matawinie construction site.
Market conditions strengthening structural demand, with EV adoption driven by
energy price shocks, growth in energy storage deployment, and accelerating
Western policy coordination reinforcing trade corridors for critical minerals.
Period-end cash position of $57.3 million.
MONTRÉAL--(BUSINESS WIRE)--May 13, 2026--On the heels of key project financing
milestones, Nouveau Monde Graphite Inc. (“NMG” or the “Company”) (NYSE: NMG, TSX:
NOU) reports progress on the advancement of its development plan and start of construction
activities at the Phase-2 Matawinie Mine. The Company issues its 2025 ESG Report that
demonstrates continued stewardship of environmental, social and governance (“ESG”) issues
aligned with western efforts to secure local and responsible graphite production and international
standards as required by lenders, investors, regulators, and customers.
Eric Desaulniers, Founder, President, and CEO of NMG, declared: “Team Nouveau Monde is
now focused on execution. With financing in place for the Matawinie Mine, we have kickstarted
construction for what is projected to be the first and largest ore-to-advanced-graphite-materials
production of the G7. This disciplined progress is essential to delivering a responsible, local
supply of natural graphite to our customers at a time when supply chain security is becoming
increasingly critical. Against a backdrop of evolving market dynamics and trade conditions, the
relevance of our value proposition is only strengthening – combining jurisdictional advantage,
sustainability, and supply chain resilience.”
Matawinie Mine
NMG secured a comprehensive financing structure for the Phase-2 Matawinie Mine combining a
committed US$335 million debt package with Export Development Canada (“EDC”) and the
Canada Infrastructure Bank (“CIB”); an aggregate US$213 million private placement with
Canada Growth Fund (“CGF”), the Government of Québec, through Investissement Québec
(“IQ”), and Eni S.p.A. (“Eni”); and an oversubscribed bought deal public offering for gross
proceeds of approximately US$96.5 million. With contemplated total gross proceeds of
approximately US$645 million, the financing process is nearing completion. NMG expects to
declare a positive final investment decision (“FID”) for the Phase-2 Matawinie Mine upon
closing of the private placements and the satisfaction of the released conditions of the bought
deal public offering following shareholders’ approval.
To optimize the project schedule in line with seasonality, NMG initiated construction activities at
the Matawinie site in early Q2-2026. The Company is assisted by an integrated project team
(“IPT”) composed of Pomerleau as Construction Manager and AtkinsRéalis as Engineering Firm
to oversee the execution of the Phase-2 Matawinie Mine. The IPT is now mobilized onsite
alongside Manawan-Fournier, the contractor responsible for the main civil works package. The
construction site has been prepared and secured; equipment and workers continue to gradually
arrive onsite; and civil works advance with a focus on stripping of the industrial platform and
environmental infrastructure areas.
NMG continues to advance detailed engineering and procurement of key services and equipment
to accelerate construction upon reaching a positive FID. Major contracts awarded and secured
represent over 50% of the project’s CAPEX and are within estimates of the 2025 Matawinie
Mine Feasibility Study.
13-ktpa Bécancour Battery Material Plant
With a view to establishing a fully integrated graphite platform, the Company is advancing the
retrofit plan of the recently acquired brownfield property for the 13-ktpa Bécancour Battery
Material Plant and developing a Class 3 estimate as per AACE Recommended Practice 47R-11.
NMG’s recently acquired brownfield property should enable the Company to lower
infrastructure costs, optimize CAPEX per tonne costs for this first stage development, and
streamline permitting, engineering, and construction timelines to align the commissioning period
with that of the Matawinie Mine. The Company’s procurement strategy is advancing for key
technical expertise, specialized equipment, and long-lead items, alongside project financing
activities with a view to proceeding with a FID in H2-2026.
ESG & Corporate Matters
As the Company transitions from planning to execution for its Phase-2 commercial operations,
NMG continues to strengthen its intendance of material ESG issues aligning with internationally
recognized practices endorsed by potential lenders, institutional investors, regulators, and
customers. NMG continued to demonstrate strong ESG performance in 2025, maintaining its
carbon neutrality, achieving an industry-leading sustainability ranking, ensuring environmental
stewardship, and advancing community and Indigenous engagement and participation. The
Company progressed along its ESG roadmap through disciplined governance, a highly engaged
workforce (83% engagement), and the integration of sustainability into project execution as it
advances toward construction and commercial operations. NMG’s 2025 ESG Report can be
consulted on the Company’s website.
The Company is committed to the safe and responsible conduct of operations. For the twelve-
month rolling period ended March 31, 2026, NMG reported a total recordable injury frequency
rate (“TRIFR”) of 2.98, and 0 at its worksite, with no major environmental incidents.
At the end of the period, the Company had a cash position of $57.3 million.
NMG will hold its annual and special meeting of shareholders on May 13, 2026 at 10:00 a.m.
EDT via webcast at https://virtual-meetings.tsxtrust.com/en/1931. Copies of the notice of
meeting, the management information circular, the proxy form, the voting instruction form,
financial statements and the Fighting Against Forced Labor and Child Labor Report are available
on NMG’s website and in Canada on SEDAR+ at www.sedarplus.ca and in the U.S. on the
SEC’s website at www.sec.gov.
The meeting will be complemented with a corporate presentation by Founder, President and
CEO Eric Desaulniers providing an update on the Company’s key projects, commercial
engagement, and growth plan.
Market Trends
Global electric vehicle (“EV”) sales totaled approximately 4 million units in Q1 2026, down 3%
year-over-year, but masking a sharp inflection within the quarter (Benchmark Mineral
Intelligence, April 2026). March volumes rebounded strongly as oil prices spiked following the
onset of the Iran conflict, with several markets recording double-digit growth (Bloomberg, April
2026). Europe achieved a record month in March with over 500,000 units sold — up 72%
month-over-month and 37% year-over-year — supported by government incentives and elevated
fuel prices linked to geopolitical tensions in the Middle East. These dynamics underscore the
growing linkage between EV adoption and energy security considerations.
Global energy storage deployment remains at record levels in 2026, with annual installations
expected to reach ~350–360 GWh in 2026, representing continued double-digit growth following
the >100 GW milestone achieved in 2025 (Morgan Lewis, March 2026).
With a global capacity pipeline of 9,767 GWh across 461 plants by 2030 (Benchmark Mineral
Intelligence, April 2026), lithium-ion battery production for transportation and energy storage
supports incremental demand for graphite-based materials.
Flake graphite prices remained stable into Q1-2026, with limited short-term reaction to
downstream demand volatility. In contrast, active anode material pricing continues to reflect
premiums associated with product performance, traceability, and security of supply – factors
gaining importance amid geopolitical uncertainty and supply chain security (Benchmark Mineral
Intelligence, April 2026).
Recent policy announcements in the Western World point to increasing coordination on critical
mineral supply chains. Governments are advancing measures including investment vehicles,
long-term offtake frameworks, and pricing mechanisms aimed at reducing reliance on
concentrated processing jurisdictions and securing inputs for EVs, energy storage, and strategic
industries. Canada and the European Investment Bank signed a Letter of Intent to explore
cooperation on critical raw materials, building on the existing EU-Canada Strategic Partnership
on Raw Materials to support secure, sustainable and diversified supply chains for minerals and
metals critical to the green and digital transitions (Government of Canada, March 2026). The
U.S. and EU signed a memorandum of understanding to secure and co-produce essential
minerals used in semiconductors, EVs, and defense technologies (European Commission, April
2026).
Natural graphite remains designated as a critical mineral across major jurisdictions, reinforcing
its strategic importance as governments respond to evolving energy security and supply chain
risks.
About Nouveau Monde Graphite
Nouveau Monde Graphite is an integrated company developing responsible mining and
advanced processing operations to supply the global economy with carbon-neutral advanced
graphite materials. The Company is developing in Québec, Canada, a fully integrated ore-to-
processed-graphite value chain to serve tomorrow’s industries in energy, advanced technology,
and manufacturing. With recognized ESG standards and structuring partnerships with major
customers, NMG is set to become a strategic supplier of advanced materials to leading
specialized manufacturers while promoting sustainability, innovation, and supply chain
traceability. www.NMG.com
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Cautionary Note Regarding Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements”
within the meaning of applicable securities legislation (collectively, “forward-looking
statements”), including, but not limited to, statements relating to future events or future financial
or operating performance of the Company and reflect management’s expectations and
assumptions regarding the Company’s growth, results, performance and business prospects and
opportunities. Such forward-looking statements reflect management’s current beliefs and are
based on information currently available to it. These forward-looking statements include, but are
not limited to the Company’s ability to successfully execute definitive agreements in respect of
the committed debt package by EDC and CIB, on the terms and conditions described herein
and/or set forth in the commitment letter or at all, completion of due diligence by the lenders, the
satisfaction of closing conditions with respect to the private placement and the bought deal
public offering, as applicable, the Company’s ability to obtain the shareholder approvals for the
private placement, the Company’s ability to satisfy all of the release conditions of the bought
deal public coffering, the Company’s ability to raise all funds needed to complete the Phase-2
Matawinie Mine, the expected use of proceeds from the public offering and the private
placement, the Company’s ability to secure a positive FID for the Phase-2 Matawinie Mine, the
ability to execute the construction and the commissioning as planned and in accordance with the
execution plan and strategy, the ability of all contractors and suppliers of the Company to
deliver in accordance with their commitment, the receipt of all necessary regulatory approvals,
the expected closing of the private placement and the bought deal offering and the expected date
for the satisfaction of the release conditions, the listing of the Common Shares issuable pursuant
to the terms of the subscription receipts on the TSX and NYSE and the expected results of the
initiatives described in this press release, and those statements which are discussed under the
“About Nouveau Monde Graphite” paragraph and elsewhere in the press release which
essentially describe the Company’s outlook and objectives.
Forward-looking statements are based upon a number of estimates and assumptions that, while
considered reasonable by the Company as of the time of such statements, are inherently subject
to significant business, economic and competitive uncertainties and contingencies. These
estimates and assumptions are not guarantees of future performance and may prove to be
incorrect. Moreover, these forward-looking statements are based upon various underlying
factors and assumptions, including the ability of the Company to complete the private placement
and the bought deal public offering, the ability of the Company to obtain the shareholder
approvals, the ability of the Company to satisfy all of the closing conditions on the private
placement and the bought deal public offering, the ability of the Company to receive all
necessary regulatory and stock exchange approvals, the ability of the Company to successfully
execute definitive agreements with respect to the debt package with lenders, on the terms and
conditions previously announced and/or set forth in the commitment letter (including the amount
of the facilities) or at all, the completion of due diligence by EDC and CIB, the ability of the
Company to meet the facilities’ conditions precedent and/or customary closing conditions, the
ability to execute the construction and the commissioning as planned and in accordance with the
execution plan and strategy, are not guarantees of future performance.
Forward-looking statements are subject to known or unknown risks and uncertainties that may
cause actual results to differ materially from those anticipated or implied in the forward-looking
statements. Risk factors that could cause actual results or events to differ materially from current
expectations include, among others, failure to obtain the shareholder approvals, failure to satisfy
all closing conditions for the private placement and the failure to satisfy all of the release
conditions of the bought deal public offering pursuant to the subscription receipt agreement,
failure to obtain necessary regulatory or stock exchange approvals, and delays in completing the
private placement or the bought deal public offering, the failure to enter into definitive
agreements with respect to the debt package with lenders, on the terms and conditions previously
announced and/or set forth in the commitment letter (including the amount of the facilities) or at
all, the completion of due diligence by EDC and CIB, the failure of the Company to meet the
Facilities’ conditions precedent and/or customary closing conditions and the expected impacts of
the facilities on the Company’s operational and financial situation and general economic
conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and
general business risks. A further description of risks and uncertainties can be found in NMG’s
Annual Information Form dated March 25, 2026, including in the section thereof captioned
“Risk Factors”, which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at
www.sec.gov. Unpredictable or unknown factors not discussed in this Cautionary Note could
also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause,
actual results to differ materially from those expressed or implied in any forward-looking
statements. There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in
such statements. Forward-looking statements are provided for the purpose of providing
information about management’s expectations and plans relating to the future. The Company
disclaims any intention or obligation to update or revise any forward-looking statements or to
explain any material difference between subsequent actual events and such forward-looking
statements, except to the extent required by applicable law.
Further information regarding the Company is available in the SEDAR+ database
(www.sedarplus.ca), and for United States readers on EDGAR (www.sec.gov), and on the
Company’s website at: www.NMG.com.
Contacts
MEDIA
Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
INVESTORS
Marc Jasmin
Director, Investor Relations
+1-450-757-8905 #993