As a World First, Nouveau Monde Has Signed a Collaboration Agreement with Caterpillar for the Development of a Zero-Emission Solution for the Matawinie Mine
Nouveau Monde and Caterpillar have signed a pivotal agreement to develop zero-emission machines for the Matawinie graphite mining project in Québec. This collaboration aims to achieve a fully powered renewable energy site, underscoring Nouveau Monde's commitment to sustainability. The partnership intends for Caterpillar to supply an all-electric mining fleet by 2028, leveraging clean hydroelectricity. With a focus on carbon neutrality in battery anode material production, Nouveau Monde is positioned as a leader in green resource innovation in the mining sector.
- Partnership with Caterpillar aims to develop zero-emission machines for Matawinie mine.
- Nouveau Monde plans to have an all-electric mining fleet by 2028.
- Access to clean, low-cost hydroelectricity supports sustainable operations.
- Focus on producing carbon-neutral battery anode material aligns with market trends.
- Reliance on Caterpillar for development may pose risks if project timelines are delayed.
- Forward-looking statements indicate uncertainties around the project's success.
- Nouveau Monde and Caterpillar have signed an agreement pursuant to which Caterpillar will develop, test and produce Cat® “zero-emission machines” for the Matawinie graphite mining project in Saint-Michel-des-Saints, Québec, Canada
- The collaboration between the companies focuses on Nouveau Monde’s goal to fully power the site with zero carbon footprint renewable energy
- Nouveau Monde and Caterpillar are committed to supporting the mining industry’s move toward a more sustainable future
- Nouveau Monde’s intended all-electric fleet will be complemented by its access to clean and attractively priced hydro-electricity
- Nouveau Monde is on track to provide its potential client base with high-quality, green and carbon-neutral battery anode material
MONTRÉAL, June 22, 2021 (GLOBE NEWSWIRE) -- Nouveau Monde Graphite Inc. (“Nouveau Monde” or the “Company”) (NYSE: NMG, TSXV : NOU; Frankfurt : NM9A) and Caterpillar Inc. (“Caterpillar”) (NYSE: CAT) are pleased to announce that they have signed an agreement pursuant to which Caterpillar will develop, test and produce Cat® “zero-emission machines” for the Matawinie graphite mine with a view to becoming the exclusive supplier of an all-electric mining fleet for deployment at Nouveau Monde’s Matawinie mine by 2028.
Arne H Frandsen, Chairman of Nouveau Monde, commented: “I recall our first meeting with Caterpillar some two years ago, outlining our vision of a zero-emission mine in Québec. Our commitment to this vision has taken us to this very important moment, not only for Nouveau Monde, but for the global mining industry as a whole. Today, alongside Caterpillar, which in my opinion is the most trusted and reputable supplier of heavy-mining equipment worldwide, we can bring the zero-emission machines vision into reality.
I think it is remarkable that Nouveau Monde, as a representative for the new style green resources industry, is part of spearheading the electrification of the industry, by collaborating with Caterpillar.”
Eric Desaulniers, Founder, President and CEO of Nouveau Monde, added: “We are proud to be a driving force for our peers as we strive to electrify our operations to meet our carbon neutrality commitments while maintaining the productivity and efficiency standards of our mining operations. Even more gratifying and important to our corporate mission is that our project can serve as a springboard for the future of the mining industry by collaborating with Caterpillar on these cutting-edge technologies.”
Looking to accelerate and tailor the equipment development, Caterpillar will engage with Nouveau Monde’s team to incorporate voice of customer throughout the development, and for testing of the zero-emission fleet and infrastructure prior to commercial production.
Denise Johnson, Caterpillar Group President, mentioned: “The collaboration between Caterpillar and Nouveau Monde marks an important milestone in the mining industry. Through integrated technology, machines and services, the entire Caterpillar team is proud to support Nouveau Monde as they work towards constructing and establishing their first zero emission mine.”
About Nouveau Monde
Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of green battery anode material in Québec, Canada. Targeting commercial operations by 2023, the Company is developing advanced carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, Nouveau Monde aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high performing and reliable advanced materials while promoting sustainability and supply chain traceability.
About Caterpillar
With 2020 sales and revenues of
| Media | Investors |
| Julie Paquet VP Communications & ESG Strategy Nouveau Monde +1-450-757-8905 #140 jpaquet@nouveaumonde.ca | Christina Lalli Director, Investor Relations Nouveau Monde +1-438-399-8665 clalli@nouveaumonde.ca |
Caterpillar Sharon Holling Trade Press Relations Lead +1-309-675-8995 Holling_Sharon_L@cat.com |
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Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to statements with respect to the intended results of the agreement with Caterpillar, the Company’s objective of powering the Matawinie mine with zero carbon footprint renewable energy and providing its potential client base with high-quality, green and carbon-neutral battery anode material, the timeline of the initiatives described in this press release, and those statements which are discussed under the “About Nouveau Monde” and “About Caterpillar” paragraphs and elsewhere in the press release which essentially describe the Company’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily 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 may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the timely delivery and installation of the equipment supporting the production, the Company’s business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.
Forward-looking information and 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 information and statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favourable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company’s assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company’s businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments’ responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. 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.
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.
Further information regarding Company is available in the SEDAR database (www.sedar.com) and on the Company’s website at: www.NouveauMonde.group
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d1f79558-4713-4bb0-8777-b824d3e9c5e7
FAQ
What is the agreement between Nouveau Monde (NMG) and Caterpillar (CAT)?
When is the all-electric mining fleet expected to be operational?
How does the agreement impact Nouveau Monde's sustainability goals?
What materials is Nouveau Monde focused on producing?
What are the potential risks associated with this partnership for NMG shareholders?
