Graphite One and Lucid Enter into Second Non-Binding Supply Agreement
Follows Graphite One's listing on U.S. Federal Fast-41 Permitting Dashboard and completion of its NI 43-101 compliant Feasibility Study funded by a $37.3 million Department of Defense award under the Defense Production Act
Graphite One CEO, Anthony Huston: "This Agreement makes Graphite One the only company to date to provide both natural and synthetic graphite materials required for battery anodes to a U.S. EV company."
VANCOUVER, BC, June 4, 2025 /CNW/ - Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) (" Graphite One", or the " Company"), is pleased to announce that as part of its plan to build a complete U.S. supply chain for advanced graphite materials, the Company has entered into a second non-binding supply agreement (the " Supply Agreement") for anode active materials (" AAM") with Lucid Group, Inc. (NASDAQ: LCID) (" Lucid"), maker of the world's most advanced electric vehicles.
Whereas the previous agreement announced in July 2024 involved synthetic graphite AAM, the agreement announced today covers natural graphite AAM which will be supplied to Lucid and its battery cell suppliers for use in future vehicles.
"This agreement complements the deal we struck with Lucid in 2024 – which marked the first synthetic graphite agreement between a U.S. graphite developer and a U.S. EV company. We made history then – and we're continuing to make history now, as the deal makes Graphite One the only company to date to provide both natural and synthetic graphite materials required for battery anodes to a U.S. EV company," said Graphite One CEO Anthony Huston. "From Presidential Executive Orders to increase mineral resource production and leveraging Alaska's resource potential, to the recent inclusion of our Company on the Federal Fast-41 Permitting Dashboard -- we are building momentum for our efforts to develop a fully domestic graphite supply chain, to meet market demands and strengthen U.S. industry and national defense."
"A supply chain of critical materials within the United States drives our nation's economy, increases our independence against outside factors or market dynamics, and supports our efforts to reduce the carbon footprint of our vehicles," said Marc Winterhoff, Interim CEO at Lucid. "This partnership is another example of our commitment to powering American innovation and manufacturing with localized supply chains."
The Supply Agreement follows publication of Graphite One's feasibility study prepared in accordance with National Instrument 43-101 this spring, which with the support of Defense Production Act Title III funding, was completed 15 months ahead of schedule and showed a tripling of the Company's proven and probable reserves.
Graphite One's domestic graphite supply chain is planned to produce graphite concentrate from the Graphite Creek deposit North of Nome, Alaska and AAM at a facility to be constructed in Warren, Ohio, subject to financing.
Terms of the Supply Agreement
The Supply Agreement is non-binding and commences once the Company begins production of natural graphite. The initial term is for 5 years, subject to earlier termination. Sales are based on a price formula agreeable to both parties. The Supply Agreement is subject to other terms, conditions and termination rights standard for an agreement of this nature.
About Lucid
Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. The award-winning Lucid Air and new Lucid Gravity deliver best-in-class performance, sophisticated design, expansive interior space and unrivaled energy efficiency. Lucid assembles both vehicles in its state-of-the-art, vertically integrated factory in Arizona. Through its industry-leading technology and innovations, Lucid is advancing the state-of-the-art of EV technology for the benefit of all.
Graphite One's Domestic Supply Chain Strategy
With the United States currently 100 percent import dependent for synthetic and natural graphite, Graphite One is developing a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek deposit, recognized by the US Geological Survey as the largest graphite deposit in the U.S. "and among the largest in the world." The Graphite One Project plan includes building an advanced graphite material and battery anode material manufacturing plant located in Warren, Ohio. The plan also includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the Ohio site, the third link in Graphite One's circular economy strategy.
About Graphite One Inc.
GRAPHITE ONE INC. (TSXV: GPH) (OTCQX: GPHOF) continues to develop its Graphite One Project (the " Project"), with the goal of becoming 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.
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
X @GraphiteOne
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
All statements in this release, other than statements of historical facts, including those related to entering into future binding arrangements between Lucid and Graphite One, the anticipated benefits of the relationship between Lucid and Graphite One., future production, establishment of a processing plant and a graphite manufacturing plant, completion of project financing, establishment of a battery materials recycling facility, 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", "is expected", "scheduled", "estimates", "projects", "plans", "is planning", "intends", "assumes", "believes", "indicates", "to be" 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 Company will enter into a definitive agreement with Lucid and even if the Company does enter into such arrangement, that the anticipated outcomes will result. 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.sedarplus.ca.
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Article content ' Adjusted EBITDA ' is defined as net earnings before finance costs, taxes and depreciation and amortization adjusted for our normalized proportionate interest in our Build-Own-Operate assets and one-time or non-recurring items, stock-based compensation expense, asset impairment charges and write downs, gains and losses for equity-accounted investees, gain or loss on equity method adjustment, significant one-time provisions, foreign exchange gains or losses, restructuring costs, Enterprise Resource Planning ('ERP') customization and configuration costs, litigation and other claims settlements, gains and losses resulting from changes in certain balance sheet valuations (such as derivatives and warrants) and acquisition costs. Article content ' EBITDA ' is defined as net income before finance costs, taxes and depreciation and amortization. Article content ' Revenue Backlog ' is defined as the balance of unrecognized, undiscounted, consolidated revenues from signed contracts in our Capital Sales and O&M Services segments. For our Capital Sales contracts, we have modeled only projects that have been contracted. For our O&M Services segment, while most of our in-hand contracts are 5-15 years in tenure, we have conservatively modeled for only 3 years of contracted revenue. See 'Reconciliation of Non-IFRS Measures' below for a reconciliation of the foregoing non-IFRS measures to their most directly comparable measures calculated in accordance with IFRS. Article content Conference Call and Webcast Details Article content A conference call to review the Company's financial results will take place at 9:00 a.m. (EDT) on Wednesday August 13, 2025. It will be hosted by management of Anaergia. An accompanying slide presentation will be posted to the Investor Relations section of the Company's website shortly before the call. Article content To listen to the webcast live: Article content The webcast will be archived and available in the Investor Relations section of our website following the call. Article content About Anaergia Article content Anaergia is a pioneering technology company in the renewable natural gas ('RNG') sector, with over 250 patents dedicated to converting organic waste into sustainable solutions such as RNG, fertilizer, and water. We are committed to addressing a significant source of greenhouse gases ('GHGs') through cost-effective processes. Our proprietary technologies, combined with our engineering expertise and vast experience in facility design, construction, and operation, position Anaergia as a leader in the RNG industry. With a proven track record of delivering hundreds of innovative projects over the past decade, we are well-equipped to tackle today's critical resource recovery challenges through diverse project delivery methods. As one of the few companies worldwide offering an integrated portfolio of end-to-end solutions, we effectively combine solid waste processing, wastewater treatment, organics recovery, high-efficiency anaerobic digestion, and biomethane production. Additionally, we operate RNG facilities owned by both third parties and Anaergia. This comprehensive approach not only reduces environmental impact but also significantly lowers costs associated with waste and wastewater treatment while mitigating GHG emissions. Article content For further information please see: Forward-Looking Statements This press release contains 'forward-looking information' within the meaning of applicable securities laws. Forward-looking information may relate to future plans, expectations and intentions, results, levels of activity, performance, goals or achievements, other future events or developments and may include, without limitation, information regarding our financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, plans and objectives. Particularly, information regarding our future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as 'may', 'will', 'would', 'should', 'could', 'expects', 'plans', 'intends', 'estimate', 'believes', 'likely', 'potential', 'continue', or 'future' or the negative or other variations of these words or other comparable words or phrases. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Forward-looking statements in this press release include, among other things, statements relating to financial condition and results of operations; Company's strategic growth plan; and statements regarding the Company's Revenue Backlog and potential future sales. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that we considered appropriate and reasonable as of the date such statements were made. It is also subject to known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk factors described in the Company's annual information form and management's discussion and analysis for the year ended December 31, 2024. Certain assumptions in respect of our ability to execute on our expansion plans; our ability to obtain or maintain existing financing on acceptable terms; and our ability of realizing the anticipated benefits of such are material factors underlying forward looking information and management's expectations. The purpose of the forward-looking statements in this press release is to provide the reader with a description of management's current expectations regarding the Company's financial performance and may not be appropriate for other purposes. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only to opinions, estimates and assumptions as of the date made. Furthermore, unless otherwise stated, the forward-looking statements contained in this press release are made as of the date of this press release, and we have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Reconciliation of Non-IFRS Measures Three months ended: 30-Jun-25 30-Jun-24 (In thousands of Canadian dollars) Net loss (9,488) (13,356) Finance costs (income), net 1,266 1,614 Depreciation and amortization 1,394 1,628 Income tax recovery 2,058 (486) EBITDA 1 (4,770) (10,600) Share based compensation expense 515 594 Losses related to equity-accounted investees – 2,431 Asset Impairment loss – 1,083 Other (gains) losses, net 402 (1,597) RIBF income tax credit transaction cost – – Foreign exchange (gain) loss 1,629 (271) Severance Costs – 376 Adjusted EBITDA 1 (2,224) (7,984) Six months ended: 30-Jun-25 30-Jun-24 (In thousands of Canadian dollars) Net loss (15,385) (24,837) Finance costs (income), net 2,282 2,649 Depreciation and amortization 2,874 2,729 Income tax recovery 172 (503) EBITDA 1 (10,057) (19,962) Share based compensation expense 765 1,183 Losses related to equity-accounted investees – 2,909 Asset Impairment loss – 1,083 Other (gains) losses, net 1,211 (1,277) RIBF income tax credit transaction cost – 2,416 Foreign exchange (gain) loss 1,917 (816) Severance Costs – 376 Adjusted EBITDA 1 (6,164) (14,088) 1 'Adjusted EBITDA' is a non-IFRS measure. 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