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Intent is to share expertise and technology for the design, construction, and operation of Graphite One's proposed U.S.-based anode production facility to ensure it is "purpose-built from Day One to the highest industry standards"
VANCOUVER, BC, April 6, 2022 /PRNewswire/ - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) ("Graphite One" or the "Company") has signed a memorandum of understanding ("MOU") with Sunrise (Guizhou) New Energy Material Co., Ltd. ("Sunrise"), a Chinese lithium-ion battery anode producer. The intent is to develop an agreement to share expertise and technology for the design, construction, and operation of Graphite One's proposed U.S.-based graphite material manufacturing facility. The plan for the materials facility – the second link in Graphite One's U.S. supply chain solution for advanced graphite products – will be detailed in the Company's prefeasibility study expected to be released in the first half of 2022.
"With the many gigafactories being built in the U.S., Sunrise is excited to enter into this MoU with Graphite One, with the largest natural graphite deposit in North America," said Mr. Haiping Hu, Chairman of Sunrise New Energy Material Co., Ltd. "We look forward to assisting Graphite One with the development of its planned anode facility to serve the American market at this critical moment in the transition to the low-carbon energy future we all seek."
"It is well understood in the North American graphite development sector that battery anode process expertise resides in China," said Anthony Huston, CEO of Graphite One. "As Graphite One works to develop North America's first complete advanced graphite material supply chain, the technical acumen Sunrise can provide, could allow us to optimize our processing capacity and ensure our new U.S.-based facility is purpose-built from Day One to the highest industry standards."
Sunrise produces 6,000 tonnes per year of lithium-Ion battery anode materials and has an established research and development base. Its 100,000 tonne per year anode production facility is under construction in China's Guizhou Province with completion expected by the end of 2023. The main products include artificial graphite, natural graphite, composite graphite, and other anode materials. Sunrise's principals each have over 20 years experience in commercially supplying lithium-Ion battery anode materials to major battery producers and are named on over 100 related patents.
About Graphite One Inc.
GRAPHITE ONE INC. (GPH: TSX‐V; GPHOF: OTCQB) continues to develop its Graphite One Project (the "Project"), whereby the Company could potentially become 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. As set forth in the Company's Preliminary Economic Assessment, potential graphite mineralization mined from the Company's Graphite Creek Property, is expected to be processed into concentrate at a graphite processing plant. The proposed processing plant would be located on the Graphite Creek Property situated on the Seward Peninsula about 60 kilometers north of Nome, Alaska. Graphite anodes and other value‐added graphite products would be manufactured from the concentrate and other materials at the Company's proposed advanced graphite materials manufacturing facility expected to be located in Washington State. The Company intends to make a production decision on the Project once a feasibility study is completed.
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 or contact:
CEO, President & Director
Tel: (604) 889-4251
Investor Relations Contact
Tel: (604) 684-6730
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.
This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts, including the intent to develop an agreement, the timing and completion of the anticipated Pre-Feasibility Study, future production, establishment of a processing plant and a graphite manufacturing plant, and events or developments that the Company intends, expects, or proposes are forward-looking statements. There is no guarantee that the MOU will develop into an agreement or that an agreement will produce the anticipated results or even positive results. 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.sedar.com.
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SOURCE Graphite One Inc.