Graphite One Comments on New U.S. Presidential Executive Order Elevating EV Battery Sector as "Critical Supply Chain"
Graphite One Inc. (OTCQB:GPHOF) welcomed a new Executive Order issued by U.S. President Biden on February 24, 2021, that prioritizes critical supply chains, including EV batteries and advanced semiconductors. The order emphasizes graphite as a critical mineral essential for these sectors. With rising demand for electric vehicles, anticipated to grow from 2 million in 2021 to over 55 million by 2040, Graphite One's Graphite Creek project, designated a High-Priority Infrastructure Project, positions the company favorably in the renewable energy landscape.
- Recognition of graphite as a critical mineral boosts demand potential.
- Graphite One's Graphite Creek project designated as a High-Priority Infrastructure Project.
- Alignment with U.S. policies favoring domestic production of critical minerals.
- None.
- New Presidential Order Identifies 4 "Critical Supply Chain" Priorities
- Graphite is Critical Material to 3
VANCOUVER, BC / ACCESSWIRE / February 25, 2021 / Graphite One Inc. (OTCQB:GPHOF)(TSXV:GPH) ("Graphite One" or the "Company") offers the following comment on a new Executive Order (EO) issued by U.S. President Joseph R. Biden on February 24, 2021, aimed at strengthening critical U.S. supply chains. The EO identifies three technology sectors as critical supply chains: advanced semiconductors, "high-capacity batteries, including Electric Vehicle (EV) batteries", and pharmaceuticals. The EO also identifies "critical minerals and other… strategic materials" as a fourth supply chain, essential to technology manufacturing and the Defense Industrial Base. In addition to being a U.S. Government-listed Critical Mineral, graphite is an essential material for both the renewable and EV Battery sectors, and for advanced semiconductor manufacturing.
In Executive Order 13953 (September 30, 2020), referenced in the new Biden Administration EO, graphite was one of four minerals and metals singled out as essential to the U.S.'s "national security, foreign policy and economy."
"Graphite One welcomes the recognition of renewable batteries, and EV batteries in particular as a critical supply chain," said Anthony Huston, Chief Executive Officer of Graphite One. "The fact that graphite is essential to three ‘critical supply chains named in the Executive Order underscores the importance of Graphite One's supply chain approach."
EV & Energy Storage: Driving Graphite Demand
The new EO comes as the Biden Administration highlights EVs and the Energy Storage System infrastructure as central to its low-carbon climate objectives and green energy policy. According to renewable energy analyst, Simon Moores, from UK's Benchmark Minerals Intelligence, "What we expect from the Biden Administration is to simply make one of their policies to make gigafactories across the whole country at scale in order to turbo-charge and protect their biggest automobile companies such as Ford Motor Co. and General Motors Co." As Shane Lasley of North of 60 Mining News reports in regard to the EV and renewable energy sectors, "Tesla is not the only automaker vying for graphite and other battery metals. With every major carmaker adding electrified models to their lineup, the number of EVs being built each year is expected to expand from about 2 million this year to more than 25 million by 2030 and 55 million by 2040."
The new Executive Order follows the designation of Graphite One's Graphite Creek project as a High-Priority Infrastructure Project (HPIP) in both the "renewable energy" and "manufacturing" sectors by the U.S. Government's Federal Permitting Improvement Steering Committee (FPISC), the culmination of a process that began when the Project was nominated for HPIP designation by Alaska Governor Mike Dunleavy in October 2019. The High-Priority designation allows Graphite One to list on the U.S. Government's Federal Permitting Dashboard, which ensures federal agencies coordinate their project review authorities, resulting in a more efficient process with more transparency for state agencies and the public.
"This new EO continues a significant alignment between tech manufacturing and the tech materials that make it possible," continued Mr. Huston. "When President Biden issued his Buy American Executive Order just a month ago, he referred directly to mining and to materials. And when new Secretary of Energy, Jennifer Granholm, testified in her nomination hearing in the Senate, she had a very detailed back-and-forth discussion with Senator Lisa Murkowski (R-AK), the Senate's thought-leader on critical minerals issues. Secretary Granholm couldn't have been any clearer: ‘We can buy electric car batteries from Asia, or we can make them in America'. Pretty simple, pretty strong. We at Graphite One couldn't agree more."
About Graphite One
Graphite One Inc. has defined America's largest high-quality graphite deposit - Graphite Creek, situated on the Seward Peninsula about 60 kilometers north of Nome - strategically located in Alaska with direct ocean access to North American and Asian markets. Graphite One's intent is to develop a vertically-integrated, advanced graphite materials supply chain project to mine, process and manufacture high grade Coated Spherical Graphite primarily for the lithium-ion electric vehicle battery market and energy storage systems, with significant additional production for a range of advanced value-added graphite applications. As detailed in the Company's Preliminary Economic Assessment Report, Graphite One anticipates that the graphite concentrate produced at Graphite Creek will be transported to an advanced graphite product manufacturing facility, the location of which is the subject of further study. Graphite One's goal is to meet rising graphite demand as an indispensable 21st Century tech mineral, serving the renewable energy sector and advanced communications, medical devices and defense applications.
The full Executive Order can be read here.
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:
Anthony Huston
CEO, President & Director
Tel: (604) 889-4251
Email: AHuston@GraphiteOneInc.com
Investor Relations Contact
1-604-684-6730
GPH@kincommunications.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.
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements that may be deemed to be 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", "anticipates", "indicates" or variations of such words and phrases that state that certain actions, events or results "may", "could", "would", "might" or "will have", "occur" or "be achieved".
All statements in this release, other than statements of historical facts that address actual use of proceeds including the timing and completion of the anticipated Pre-Feasibility Study, receipt of regulatory approvals, implementation of a more established shipment program, exploration drilling, exploitation activities, future production, establishment of a processing plant, and events or developments that the Company expects, are forward-looking statements. 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.
SOURCE: Graphite One Inc.
View source version on accesswire.com:
https://www.accesswire.com/631866/Graphite-One-Comments-on-New-US-Presidential-Executive-Order-Elevating-EV-Battery-Sector-as-Critical-Supply-Chain
FAQ
What does the new Executive Order by President Biden mean for Graphite One (GPHOF)?
How does the Executive Order impact the EV market?
What is the significance of Graphite Creek's designation as a High-Priority Infrastructure Project?
