Graphite One Announces Location of its Advanced Graphite Anode Facility
Graphite One Inc. has selected Washington State as the site for its advanced materials processing plant, aiming to produce battery anodes domestically. This decision underscores a move toward a 100% U.S.-based graphite supply chain, utilizing hydro power to reduce production costs significantly, as Washington's average electricity rate is 5.81 cents per KWh, lower than the national average of 7.26 cents. The facility is expected to create around 130 high-wage jobs and will be linked to a graphite resource in Nome, Alaska.
- Selection of Washington State for the advanced materials processing plant.
- Utilization of hydro power to lower production costs significantly.
- Creation of approximately 130 high-wage jobs.
- None.
VANCOUVER, BC, March 14, 2022 /PRNewswire/ - 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
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
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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 |
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
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
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.
FORWARD LOOKING STATEMENTS
All statements in this release, other than statements of historical facts, including those related to 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, 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", or "is expected", "scheduled", "estimates", "projects", "intends", "assumes", "believes", "indicates" 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 material processing plant will actually be built, that Washington State public authorities will be supportive of the facility, that the facility will create the anticipated jobs, and tests of the Company's material will be successful or that such tests will result in the development of successful products. 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.
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