"Canadian Graphite Producer Secures Major Investments and Offtake Deals with GM, Panasonic for EV Battery Material Operations"
Originally Published 1 year ago — by Yahoo Finance
Nouveau Monde Graphite Inc. secures multiyear offtake agreements with Panasonic Energy and General Motors for its active anode material, covering 85% of its planned Phase-2 production, and receives a total investment of US$87.5 million from anchor customers and strategic investors to advance its ore-to-battery-material graphite operations. The investments will support the development of NMG’s Matawinie Mine and Bécancour Battery Material Plant, with future funding potential of up to US$275 million from anchor customers. The company aims to become the first fully integrated natural graphite active anode material producer in North America, providing a carbon-neutral source for the electric vehicle and lithium-ion battery market.