NMG Starts Commissioning its Coating Line Completing its Integrated Anode Material Production & Discloses Annual General Meeting Voting Results
Nouveau Monde Graphite (NYSE: NMG) announced the near completion of its coating unit, marking a significant milestone in its Phase 1 operations. Cold commissioning has begun, supporting the development of high-purity graphite and advanced battery materials. NMG now boasts North America's only fully integrated natural graphite production, which includes facilities for anode material qualification. This project is set to boost production to 100,000 tpa at the Matawinie Mine and 42,000 tpa at the Bécancour Battery Material Plant, leveraging sustainable practices and clean hydropower.
- Completion of the coating unit on budget and schedule.
- Establishment of North America's only fully integrated natural graphite production facilities.
- Strong foundation for scaling production to 100,000 tpa of high-purity flake graphite.
- Projected 25% energy reduction in production compared to competitors.
- None.
- Construction of NMG’s coating unit essentially completed safely and on budget; cold commissioning is now underway.
- The only operational integrated North American natural graphite production, from mine to battery material: NMG now has the facilities to fully support the anode material qualification with its potential customers.
-
The coating line completes the development of NMG’s Phase 1, providing a strong foundation for the scale up to full commercial operations for 100,000 tpa of high-purity flake graphite at the
Matawinie Mine and 42,000 tpa of CSPG at the Bécancour Battery Material Plant.
From mine to battery materials, NMG is developing what is projected to be North America’s largest fully integrated natural graphite operation at the markets’ doorstep: https://youtu.be/B0NGZE8tQHw (Photo: Business Wire)
The ultimate beneficiation step, coating is instrumental to battery technology. Coating helps create a stable electrolyte interface layer in the battery system and increase initial coulombic efficiency and discharge capacity, thus extending the battery performance over time. With this addition, NMG now operates the only fully integrated North American natural graphite production and is positioned to provide customers with a variety of customizable high-purity advanced materials to meet their specifications, desired environmental footprint, and quality standards.
Arne H Frandsen, Chair of NMG, said: “NMG’s scaled development plan has reached a significant milestone: Phase 1 now covers the full value chain! From extraction and concentration to advanced processing and battery testing in our laboratory, we have engineered processes, designed operations, and built facilities that demonstrate our proprietary technologies and production capability. This constitutes a springboard for executing our Phase 2 to develop what is projected to be North America’s largest fully integrated natural graphite operation. As an early mover, timing is superb for NMG considering the pressure battery and electric vehicles (“EV”) manufacturers are experiencing due to growth in demand for cleantech and limited raw materials.”
NMG’s innovative coating technology is projected to generate up to
Cold commissioning of the kiln and utilities is underway with NMG’s and the equipment’s supplier technical team onsite; hot commissioning is expected to start shortly after with the objective of processing the first tonne of material at the beginning of Q3-2022. The Company expects stable production by the end of Q3-2022 to support product qualification, operational optimization, and detailed engineering of the Phase 2 Bécancour Battery Material Plant.
Spherical purified graphite (“SPG”) extracted from the Company’s Matawinie deposit and produced through its Phase-1 concentrator, shaping unit and purification facility, will be refined with a nano layer of carbon to qualify the material for anode application. Production of coated spherical purified graphite (“CSPG”) in commercial-like settings, with NMG’s ore, technology and facilities, further advances commercial discussions with potential customers with a view towards the completion of an offtake agreement.
Matters Voted upon at the Meeting and Results
The Company also announced today the results of voting at the Meeting. Each of the seven nominees listed in the Company’s management information circular dated
Shareholders also adopted all other resolutions submitted for their approval, including the appointment of
The complete voting results for each item of business are as follows:
ELECTION OF DIRECTORS
|
Votes in Favor |
% Votes in Favor |
Votes Withheld |
% Votes Withheld |
||||
|
27,047,382 |
|
169,213 |
|
||||
|
27,195,576 |
|
21,019 |
|
||||
Arne H Frandsen |
26,278,327 |
|
938,268 |
|
||||
Jürgen Köhler |
27,188,195 |
|
28,400 |
|
||||
|
27,202,861 |
|
13,734 |
|
||||
|
27,034,959 |
|
181,636 |
|
||||
|
27,164,762 |
|
51,833 |
|
APPOINTMENT AND COMPENSATION OF AUDITORS
Votes in Favor |
% Votes in Favor |
Votes Withheld |
% Votes Withheld |
|||
30,130,892 |
|
56,359 |
|
RATIFICATION AND CONFIRMATION OF THE COMPANY’S STOCK OPTION PLAN
Votes in Favor |
% Votes in Favor |
Votes Against |
% Votes Against |
|||
26,120,204 |
|
1,096,391 |
|
Details of the voting results on all matters considered at the Meeting are available in the Company’s report of voting results, which is available under Nouveau Monde’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
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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 those describing the impact of the foregoing on the project economics, the intended production capacity of the Company’s Phase-2 operations, the potential results and benefits of the Company’s proprietary coating technology, including the potential reduction in energy consumption, the timelines of the various initiatives and deliverables described in this press release, future demand for batteries and EVs, the objective of developing the largest fully integrated natural graphite operation in
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, 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 favorable 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. A further description of risks and uncertainties can be found in NMG’s Annual Information Form dated
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.
The market and industry data contained in this press release is based upon information from independent industry publications, market research, analyst reports and surveys and other publicly available sources. Although the Corporation believes these sources to be generally reliable, market and industry data is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data-gathering process and other limitations and uncertainties inherent in any survey. The Corporation has not independently verified any of the data from third-party sources referred to in this press release and accordingly, the accuracy and completeness of such data is not guaranteed.
Neither the
Further information regarding the Company is available in the SEDAR database (www.sedar.com), and for
View source version on businesswire.com: https://www.businesswire.com/news/home/20220617005219/en/
MEDIA
VP Communications & ESG Strategy
+1-450-757-8905 #140
jpaquet@nmg.com
INVESTORS
Director, Investor Relations
+1-450-757-8905 #993
mjasmin@nmg.com
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