Latest news with #DefenseProductionActTitleIII
The Market Online
2 days ago
- Business
- The Market Online
Graphite One: Building North America's premier graphite supply chain
In the first two articles of this series, we explored the essential nature of graphite—its role in powering electric vehicles, renewable energy storage, and high-tech manufacturing—and examined its strategic importance to national security and military readiness. Now, we turn our attention to a company at the forefront of addressing North America's graphite dependency: Graphite One Inc. (TSXV:GPH). A strategic asset in Alaska: The Graphite Creek Project Graphite One's flagship initiative, the Graphite Creek Project, is located on the Seward Peninsula in Alaska, approximately 60 kilometers north of Nome. Recognized by the U.S. Geological Survey as the largest known flake graphite deposit in the United States, Graphite Creek is now considered among the largest in the world. Recent updates from the company reveal a dramatic expansion in the project's scope. The 2025 feasibility study, completed 15 months ahead of schedule with support from the U.S. Department of Defense under the Defense Production Act Title III, shows a 317 per cent increase in proven and probable reserves and a 322 per cent increase in measured and indicated resources compared to the 2022 Pre-Feasibility Study. Vertical integration: From mine to battery-grade material Graphite One's vision extends far beyond mining. The company is executing a fully integrated supply chain strategy—from raw graphite extraction at Graphite Creek to the production of anode active material at a planned secondary treatment plant in Ohio. This vertical integration is critical. The U.S. currently imports 100 per cent of its natural graphite, a vulnerability in the face of rising demand for lithium-ion batteries and electric vehicles. By producing battery-grade graphite domestically, Graphite One aims to eliminate a key supply chain bottleneck and support the U.S. transition to clean energy and advanced manufacturing. Milestones and momentum Graphite One has achieved several key milestones in 2025: Feasibility study completion : Validated a 20-year mine life with a projected annual output of 175,000 tonnes of graphite concentrate. : Validated a 20-year mine life with a projected annual output of 175,000 tonnes of graphite concentrate. Federal support : Received funding and strategic backing from the Department of Defense. : Received funding and strategic backing from the Department of Defense. Permitting phase : Entered permitting with strong momentum, supported by a recent Executive Order prioritizing domestic mineral production. : Entered permitting with strong momentum, supported by a recent Executive Order prioritizing domestic mineral production. Economic viability: The feasibility study projects a pre-tax NPV of $6.4 billion and a 30 per cent internal rate of return, with commercial anode active material production expected by 2028. Economic and ESG impact Graphite One's project is in a position to deliver significant economic and environmental benefits: Job creation : The project will generate high-quality jobs in Alaska and Ohio, supporting local economies and Indigenous communities. : The project will generate high-quality jobs in Alaska and Ohio, supporting local economies and Indigenous communities. Environmental stewardship : The company is committed to responsible development, with environmental planning integrated into every phase. : The company is committed to responsible development, with environmental planning integrated into every phase. Community engagement: Graphite One is working closely with local stakeholders to ensure long-term, shared value. A pillar of U.S. mineral independence In a world increasingly defined by geopolitical competition and technological transformation, Graphite One's project is more than a business venture—it's a strategic imperative. As the U.S. seeks to reduce reliance on foreign critical minerals, particularly from China, Graphite One offers a homegrown solution that aligns with national priorities in energy security, defense, and green technology leadership. Investor's corner As we've explored in this series, graphite is not just a material—it's a cornerstone of the 21st-century economy. From its indispensable role in batteries and electronics to its strategic value in defense, the case for domestic graphite production is clear. Graphite One Inc. stands at the nexus of this opportunity. With a world-class deposit, a vertically integrated strategy, strong government support, and a compelling economic profile, the company is uniquely positioned to lead North America's graphite renaissance. For investors seeking exposure to the future of energy, technology, and national resilience, Graphite One deserves a closer look. We encourage you to deepen your due diligence, revisit the earlier articles in this series, and consider how this emerging leader fits into your long-term investment strategy. Join the discussion: Find out what investors are saying about this stock on the Graphite One Inc. Bullboards and check out the rest of Stockhouse's stock forums and message boards. This is sponsored content issued on behalf of Graphite One Inc., please see full disclaimer here.
Business Wire
22-05-2025
- Business
- Business Wire
L3Harris Marks Major Milestone for New Solid Rocket Motor ‘Factories of the Future' in Virginia
CULPEPER, Va.--(BUSINESS WIRE)--L3Harris Technologies (NYSE: LHX) has broken ground on the construction of five new solid rocket motor facilities in Virginia that will boost production to support key national defense programs. The new facilities will incorporate modular factory design, robotic flex cells, automated, progressive casting and improved handling and assembly throughout the production line. 'L3Harris' growth in Virginia is another solid example of how we're expanding our rocket motor manufacturing infrastructure to support the nation's defense propulsion needs,' said Ken Bedingfield, President, Aerojet Rocketdyne, L3Harris. 'Made possible through a Defense Production Act Title III cooperative agreement, this expansion will complement an existing 256,000 square feet of manufacturing space, supporting some of the most advanced propulsion research and production in the world.' L3Harris' site in Virginia hosts the company's Center of Excellence for Propellant Research and Small to Medium-sized Solid Rocket Motor Production. The expansion includes a 12,000 square foot, state-of-the-art solid rocket motor cast and assembly facility, as well as a control room, facilities to support mixing and grinding operations and upgrades to the site's motor testing capabilities. The consolidated cast and assembly building will centralize production of a critical program under one roof, reducing the distance motors travel during manufacturing by 90%. 'L3Harris' continued expansion in Virginia underscores the Commonwealth's pivotal role in safeguarding our nation's security,' said Virginia Gov. Glenn Youngkin. 'With a world-class workforce, cutting-edge infrastructure, and a strategic East Coast location, Virginia offers the ideal environment for defense and aerospace leaders like L3Harris to grow and drive innovation for the future.' 'I'm proud of Virginia's continued leadership in the defense sector, which is made possible in part through crucial investments like L3Harris' new solid rocket motor facilities,' said Sen. Tim Kaine, D-Va. 'I'll keep looking for opportunities to support Virginia's robust defense industry—a core pillar of Virginia's economy and a key component of our military readiness.' 'Thrilled to see L3Harris expand its presence in Virginia and continue to strengthen our defense industrial base,' said Sen. Mark R. Warner, D-Va. 'This investment in Orange County will support the world-class research and manufacturing coming out of Virginia, while also creating valuable jobs for American workers.' 'This investment by L3Harris underscores how the Seventh Congressional District, and Virginia overall, remains a great place to build systems critical to our national security. This project will yield exactly the kind of smart, strategic growth we need in the Seventh District to strengthen our national security, rebuild America's defense industrial base, and build key components for munitions such as the Javelin,' said Rep. Eugene Vindman, D-Va. 'As an Army veteran and a member of the House Armed Services Committee, I will prioritize supporting projects that ensure our service members have the tools they need to keep our country safe — while creating more good jobs right here in the Seventh.' 'Investment in key capabilities for domestic defense production is integral to our efforts to continue to support warfighter requirements,' said Greg Davis, Acting Director, Manufacturing Capability Expansion and Investment Prioritization, Office of the Assistant Secretary of Defense for Industrial Base Policy. 'It's also an important component to the Department's priority of revitalizing the defense industrial base.' L3Harris is also modernizing and expanding its solid rocket motor production in two other states. The company is constructing new solid rocket motor facilities in Camden, Arkansas, and is transitioning production of inert components for critical missile systems to align with the sites' core competencies in Huntsville, Alabama. The company is already ramping up production due to digital process improvements as well as new tooling and equipment. About L3Harris Technologies L3Harris Technologies is the Trusted Disruptor in the defense industry. With customers' mission-critical needs always in mind, our employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains in the interest of national security. Visit for more information. Forward-Looking Statements This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about future capacity are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Yahoo
16-05-2025
- Business
- Yahoo
How our clean-tech startup stumbled into a Pentagon partnership by following the demand
My love for our planet began as a child growing up in rural Canada. I'm a lifelong hiker, fisherman, animal lover, and mineral collector. These interests deepened my appreciation for the value of a healthy planet. When I moved to San Francisco, I set out to transform my passion for nature into clean-tech action. Over the next decade, I launched startups addressing major environmental challenges and worked as an advisor helping global blue-chip clients make their technologies more resilient, cost-effective, and profitable, all while being greener. After working in natural resources, I set out on my next big venture, founding Magrathea in 2022 right here in San Francisco to develop electrolytic technology capable of creating magnesium metal from seawater—metal that could be used to manufacture electric vehicles while emitting zero CO2 emissions and reducing humanity's need for terrestrial mining. But world events would soon reshape our trajectory in ways I never anticipated. Our first fundraise for Magrathea, in March 2022, coincided with a turning point I never expected: the start of Putin's full-scale invasion of the rest of Ukraine. I'm not proud to admit it—and want to be clear about that—but this horrific development, to our surprise, created momentum for Magrathea in an unexpected area: the defense industry. With the onset of the Ukraine war, the U.S. and other NATO countries immediately focused on shoring up their defenses and military spending. Almost all military products—Black Hawk helicopters, AI-powered drones, next-generation fighter jets—require magnesium. It's a critical component in making aluminum alloys stronger and is irreplaceable in a number of defense industry applications. Naturally, the U.S. and other NATO allies suddenly required more magnesium—and they turned to Magrathea. About a year later, we found ourselves in partnership with the U.S. Defense Department via a Defense Production Act Title III grant to further develop our technology to secure the U.S.'s defense industrial base. Magrathea's strategic pivot amidst the Ukraine war served as a valuable lesson. It illuminated a critical aspect of being successful with technological development: You have to make something the market wants. To deliver successful technology, helping the environment simply isn't enough. You need a viable technology solution in the short term with a proven end market and robust economics. Safeguarding the environment becomes a valuable byproduct, but for that benefit to be realized, the economics must work. In the case of magnesium, our end market is expansive—magnesium metal is perhaps the most important critical material, and it's the only structural metal you can make from seawater. You can't manufacture planes or cars without it. In addition to steel and aluminum, magnesium is also essential for titanium (aerospace applications), beryllium (electronics), and amorphous boron (defense)—as well as hafnium and zirconium (nuclear). Our confidence in meeting this demand stems from historical precedent: A legacy variation of our process was used by Dow Chemical in Freeport, Texas. Using this process, Dow helped the U.S. become the world's largest producer of magnesium metal, running the smelter for over 70 years until the late 1990s. We're building on this proven foundation with modern innovations including a major upgrade to the way magnesium chloride salt is processed before electrolysis. Where we really differ from our predecessors is that we believe we have cracked the code when it comes to producing magnesium in a cost-effective manner by developing a less-capital-intensive, more durable salt processing and electrolysis system. We have five patent applications and mountains of trade secrets protecting the innovations we've imbued on the electrolytic magnesium metal production process. We're a team of less than 20, but we've done more than a team of 50 could do in five years at a big company. As powerful and large as the market opportunity for magnesium is, having great technology is only the first step. What is most urgently needed is investment. To ensure America becomes a leader in critical minerals and other emerging industries, billions of dollars to fund large capital projects is what will truly move the needle. This is something I have been communicating to the U.S. federal government every time I talk to them. For us, while we can produce magnesium at a small scale and sell it to customers, we need more capital to build large-scale facilities to produce the amount of metal that our customers really need. To date, we have raised $12 million in private funding and have a $28 million partnership with the DOD, but this is only enough for us to develop our technology to pilot scale and improve processes. To take Magrathea to the next level, the government needs to understand that they must make capital available in the form of large grants and loan guarantees. The private investment industry is not going to figure this out on their own. We need the government to be first movers. America has viable, compelling technology solutions available today to address its critical minerals shortage, but they need immense capital to scale. The Chinese understand this, and they made such capital available to build up their crucial industries decades ago. Yet our government has repeatedly missed similar opportunities, allowing promising technologies, especially clean technologies like batteries and solar photovoltaics, to be sent to their graves before being scaled up. Climate solutions, national security, economic growth—these are not separate battles in my mind. They are one and the same. America has the chance to win them all, but that requires more than white papers, essays, and speeches. It requires focus, patience, and—most importantly—investment. There is a path forward to bring primary magnesium metal manufacturing back to the United States to bolster national security, and to drive growth of this important and valuable industry all while bringing climate solutions to market. Now, more than ever, America has a chance to turn innovation—provided we choose to invest in it—into leadership. As Magrathea enters the next stage of its journey—with plans to establish the first commercial electrolytic magnesium facility in the past 50 years—my climate passion is still very much with me. I don't know for certain that the rest of my journey will be without its pivots, but one thing I do know is that I'll never overlook the importance of building solutions that can help our planet. The opinions expressed in commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune. Read more: How our ping pong startup hit a $50M valuation in 5 years by tapping into automation How we built our bootstrapped startup different and sold it for $40M. (Hint: We ignored some myths) In 6 years I've bootstrapped my moving company to $100M in revenue. Avoiding VC funding has been key This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
22-04-2025
- Business
- Associated Press
Alaska Energy Metals Files Updated NI 43-101 Technical Report for The Eureka Deposit, Nikolai Nickel Project, Alaska, USA
2025 Mineral Resource Estimate for Eureka Deposit Significantly Increases Tonnage, Metal Content and Grade Findings Align With U.S. Government Effort to Strengthen Critical Mineral Supply Chains VANCOUVER, BC / ACCESS Newswire / April 22, 2025 / Alaska Energy Metals Corporation (TSXV:AEMC)(OTCQB:AKEMF) ('AEMC' or the 'Company') is pleased to announce that it has filed an Updated National Instrument 43-101 Technical Report (the 'Technical Report' or the 'Report') on SEDAR+ for its 100% owned Eureka Property, Nikolai Nickel Project in Alaska, USA. With the Nikolai deposit hosting seven Critical Minerals, two of which are Defense Production Act Title III materials 'essential for the national defense,' the announcement aligns with a series of U.S. presidential executive orders to strengthen U.S. critical mineral supply chains, including EO 14241 'Immediate Measures to Increase American Mineral Production' and EO 14153 entitled 'Unleashing Alaska's Tremendous Resource Potential.' Highlights of the Updated Technical Report and Mineral Resource Estimate include: The Report titled 'Nikolai Project Mineral Resource Estimate 2025 Update' is dated April 21st, 2025 and supports the disclosure made by the company in its March 10th, 2025 press release titled 'Alaska Energy Metals Announces Major Increases in Mineral Resource Estimate, Nikolai Nickel Project, Alaska, USA.' The Independent MRE and Updated Technical Report were prepared by Stantec Consulting Services, Inc. in accordance with National Instrument 43-101 regulations. The Report can be found under the Company's profile on SEDAR+ ( ) and on Alaska Energy Metals website ( ). Alaska Energy Metals President & CEO Gregory Beischer commented: 'The updated Mineral Resource Estimate shows a very substantial increase in tonnage and metal content. Nikolai represents the largest accumulation of nickel in the United States and contains six other critical and strategic metals. With the Trump Administration moving to strengthen U.S. Critical Mineral supply chains as a key policy priority, the deposit may prove to be very valuable to the United States as a secure, domestic source of these metals. The next steps for the Company are completion of metallurgical studies followed by economic analysis, and we expect to complete these studies in the coming months.' QUALIFIED PERSON Mr. Erik Langenfeld of Stantec Consulting Services Inc. is the independent Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has prepared, or supervised the preparation of, or has reviewed and approved, the scientific and technical data pertaining to the MRE and technical report. Mr. Langenfeld declares he has read this press release and that the scientific and technical information relating to the resource estimate are correct. Gabriel Graf, the Company's Chief Geoscientist, is the qualified person, as defined under NI 43-101 having reviewed and approved of all other scientific and technical information contained in this news release. For additional information, visit: ABOUT ALASKA ENERGY METALS Alaska Energy Metals Corporation (AEMC) is an Alaska-based corporation with offices in Anchorage and Vancouver working to sustainably deliver the critical materials needed for national security and a bright energy future, while generating superior returns for shareholders. AEMC is focused on delineating and developing the large-scale, bulk tonnage, polymetallic Nikolai Project Eureka deposit containing nickel, copper, cobalt, chromium, iron, platinum, palladium, and gold. Located in Interior Alaska near existing transportation and power infrastructure, its flagship project, Nikolai, is well-situated to become a significant domestic source of strategic metals for North America. AEMC also holds a secondary project in western Quebec; the Angliers - Belleterre project. Today, material sourcing demands excellence in environmental performance, technological innovation, carbon mitigation and the responsible management of human and financial capital. AEMC works every day to earn and maintain the respect and confidence of the public and believes that ESG performance is measured by action and led from the top. ON BEHALF OF THE BOARD 'Gregory Beischer' Gregory Beischer, President & CEO FOR FURTHER INFORMATION, PLEASE CONTACT: Gregory A. Beischer, President & CEO Toll-Free: 877-217-8978 | Local: 604-609-7149 Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the estimation of mineral resources and that the Company a) will complete metallurgical and deportment studies, b) will perform economic analysis. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements do not guarantee future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include but are not limited to uncertainty relating to the estimation of mineral resources, regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. 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 press release. SOURCE: Alaska Energy Metals Corporation press release
Associated Press
18-03-2025
- Automotive
- Associated Press
eVAC Wins Energy Transition Deal of the Year for U.S. Permanent Magnet Manufacturing Facility
HOUSTON and BOSTON, March 18, 2025 /PRNewswire/ -- Ara Partners, a global private equity firm dedicated to decarbonizing the industrial economy, announced that e-VAC Magnetics, LLC ('eVAC') has been awarded IJ Global's 2024 Energy Transition Deal of the Year (North America). The award recognizes eVac's $335 million non-recourse financing for their first-of-its-kind U.S. permanent magnet manufacturing facility in Sumter County, South Carolina. The transaction has also been recognized by Proximo as the North American Manufacturing Deal of the Year. This landmark transaction, undertaken by Ara Partners and its portfolio company Vacuumschmelze GmbH & Co. KG ('VAC'), strengthens the domestic supply chain for electric vehicles, aerospace and defense, renewable energy, and other critical industries. 'We are honored that eVAC's financing has been recognized as IJ Global's 2024 Energy Transition Deal of the Year,' said Tuan Tran, Senior Managing Director. 'This transaction underscores the finance market's confidence in Ara's ability to scale world-class manufacturing that supports both the energy transition and U.S. supply chain security. We deeply appreciate the trust and support of our financing partners, as well as the broader ecosystem of stakeholders who made this possible.' The financing was led by BMO and Mitsubishi UFJ Financial Group, Inc. ('MUFG'), with Canadian Imperial Bank of Commerce ('CIBC'), Coöperatieve Rabobank U.A. ('Rabobank'), and Société Générale S.A. ('Société Générale') as Coordinating Lead Arrangers. The eVAC facility was established through a strategic partnership with General Motors ('GM') to supply rare earth permanent magnets for GM's electric vehicles over the next decade. The project has also received strong federal and state support, including a Defense Production Act Title III grant from the Department of Defense and a $111.9 million Qualifying Advanced Energy Project Tax Credit. PEI Global Partners LLC ('PEI') served as Exclusive Financial Advisor to Ara Partners and VAC on the transaction. Latham & Watkins LLP served as borrower counsel, while Milbank LLP served as lenders counsel. 'PEI is proud to have supported this award-winning transaction, which demonstrates our firm's ingenuity, deep industry relationships and focus on delivering an optimal outcome for our clients,' said Sky Fabian, Partner at PEI. 'A collaborative effort among Ara Partners, eVAC, the banks, lawyers and advisors enabled a first-of-a-kind transaction that will serve as a blueprint for advanced manufacturing financing going forward. We sincerely thank everyone involved for their trust, commitment and tireless efforts in getting this transaction across the finish line.' 'We are truly honored by this award, which recognizes the bold vision and unwavering dedication behind our e-VAC project in the United States,' noted Erik Eschen, CEO of VAC. 'This investment secures North America's supply chain and drives re-industrialization, demonstrating the power of collaboration among industry, policymakers, investors, and communities. By pushing the boundaries of innovation and forging strategic partnerships, we have proven that even the most ambitious projects can be realized within a short timeframe when collaboration drives progress.' This recognition from IJ Global, a leading publication covering global infrastructure and energy finance, highlights the groundbreaking nature of eVAC's financing structure and its role in advancing sustainable industrial manufacturing in North America. About Vacuumschmelze Vacuumschmelze ('VAC') is a leading global producer of advanced magnetic solutions, rare earth permanent magnets, and inductive components that are crucial for the decarbonization of our planet. With more than 100 years of application know-how and experience in material science and product development, VAC designs and manufactures mission critical solutions for a wide variety of industries, including renewable energy, e-mobility, automotive, industrial automation, medical, aerospace and defense. VAC's unique ability to develop and manufacture from base elements through final products enables us to provide customers with optimal form factors and performance, generating best in class efficient solutions in an environmentally conscious manner. More information at . About Ara Partners Ara Partners is a global private equity and infrastructure investment firm focused on industrial decarbonization. Founded in 2017, Ara Partners seeks to build and scale companies with significant decarbonization impact across the industrial and manufacturing, chemicals and materials, energy efficiency and green fuels, and food and agriculture sectors. The company operates from offices in Houston, Boston, Washington, D.C., and Dublin. Ara Partners closed its third private equity fund in December 2023 with over $2.8 billion in capital commitments. As of September 2024, Ara Partners had approximately $6.3 billion of assets under management.
