- Graphite One (GPHOF, Financial) signs a second non-binding supply agreement with Lucid Group, enhancing its role in the U.S. battery materials supply chain.
- The agreement expands to include both natural and synthetic graphite, making Graphite One a unique provider for U.S. EV manufacturers.
- Graphite One's feasibility study, backed by a $37.3 million Department of Defense award, was completed 15 months early, revealing tripled reserves.
Graphite One Inc. (OTCQX: GPHOF) has entered into a second non-binding supply agreement with Lucid Group (LCID), broadening its existing partnership to supply natural graphite anode active materials (AAM). This complements an earlier agreement made in 2024 for synthetic graphite, establishing Graphite One as the first company to supply both materials to a U.S. electric vehicle manufacturer.
This strategic move comes after several significant milestones for Graphite One. The company has been listed on the Federal Fast-41 Permitting Dashboard, which is expected to expedite regulatory approvals. Furthermore, a comprehensive feasibility study, completed 15 months ahead of schedule with the aid of a $37.3 million award from the Department of Defense, revealed a tripling of proven and probable reserves at the Graphite Creek deposit in Alaska.
Graphite One's plan involves mining graphite from its Graphite Creek deposit in Alaska and processing it at a new facility in Warren, Ohio, which is currently in the development phase subject to financing. Despite the non-binding nature of the agreement and standard termination rights, this deal positions Graphite One at a pivotal intersection of domestic supply chain development, aligning with U.S. policy objectives to reduce dependency on foreign battery materials.
Lucid Group, known for its cutting-edge electric vehicles, continues to bolster its commitment to American innovation through localized supply chains. This collaboration with Graphite One is a further step in utilizing domestic resources to enhance the sustainability and independence of the U.S. automotive and defense sectors.
