+ Confirmed 77 MW electricity block for NMG’s Phase-2 Bécancour
Battery Material Plant to support production of carbon-neutral
active anode material for the battery/EV market.
+ NMG to benefit from Québec’s discounted industrial rate for
hydroelectricity at both Phase-2 Matawinie Mine and Bécancour
Battery Material Plant.
+ Calendar established with Caterpillar to test new equipment
models and deploy zero-exhaust emission fleet and infrastructure at
NMG’s Phase-2 Matawinie Mine.
+ Electrification strategy supported by Québec’s affordable,
reliable, and renewable power grid, one of the greenest in the
world.
In line with its commitment to adopt clean energy sources and
technologies, Nouveau Monde Graphite Inc. (“NMG“ or the “Company”)
(NYSE: NMG, TSX.V: NOU) reports advancement on its electrification
program for the Phase-2 Matawinie Mine and Bécancour Battery
Material Plant. Leveraging Québec’s power grid, one of the greenest
in the world, as the bedrock of its electrification strategy, NMG
has confirmed electrical capacity and competitive rates, and
defined zero-exhaust emission equipment deployment with Caterpillar
Inc. (“Caterpillar”) (NYSE: CAT).
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231006019824/en/
3D model of the Matawinie Mine showcasing
Cat® zero-exhaust-emission equipment at work, available at
https://youtu.be/aHhmZrsuDU4. (Graphic: Business Wire)
Arne H Frandsen, Chair of NMG, declared: “Clean energy is
central to our operational, commercial, and ESG strategy. I am
extremely pleased to see the progress made by our team and in
collaboration with partners to translate our objectives into plans,
technological design, and schedules. Québec is becoming North
America’s green battery thanks to its vast hydropower network, and
we, in turn, are leveraging this renewable energy and its multiple
jurisdictional advantages to establish a new operational model,
from ore to battery materials, fully electrified, fully integrated,
fully traceable.”
Renewable Electricity Powering Clean Processing
Complementary to agreements in place for the Phase-2 Matawinie
Mine which include the construction of a dedicated powerline, NMG
obtained confirmation from Hydro-Québec – the government
corporation that produces, transmits, and distributes electricity
in Québec – of a 77 MW electricity block for the Phase-2 Bécancour
Battery Material Plant. In the context of intense industrial
development in the province, in part related to the expanding
battery ecosystem, electricity allocations are now assessed on
basis of technical connection capacities, economic and regional
development benefits, environmental and social impact, and
alignment with governmental orientations.
The allocated electricity block will enable the establishment of
a fully integrated advanced manufacturing platform in Bécancour, in
the heart of Québec’s battery valley, for refining graphite into
active anode material.
NMG has received confirmation of its discounted industrial rate
for hydroelectricity at both Phase-2 Matawinie Mine and Bécancour
Battery Material Plant. Such favorable commercial electricity rate
provides a cost-competitive environment for energy-intensive
sectors such as mining and advanced manufacturing, an incentive for
investment and continued upgrading of facilities, and operational
visibility for the Company.
Electrifying Mining at Matawinie
Active technical work between Caterpillar and NMG’s teams have
enabled the establishment of a calendar to deploy early learners
and/or pilot models for the Phase 2 Matawinie Mine, to test
equipment in actual terrain and weather, and to map the transition
to future zero-exhaust-emission production models. The Cat® 950
GC-wheel loader would be the first battery-electric pilot machine
to arrive at Matawinie.
These developments also support planning for the site’s charging
infrastructure. Modeling and simulating the location of charging
stations, equipment operations on site, as well as charging cycles
in relation to operational schedules and the mining plan, help
optimize site design and technology choices. The simulation of
charging needs helps identify peak power demand and defining energy
management strategies.
Denise Johnson, Caterpillar Group President, commented: “The
Matawinie project highlights the complex questions miners are faced
with when determining the amount of energy required to run a fully
electric site. This is part of the learning NMG and Caterpillar are
navigating together as we work through the realities of supporting
the mine site of the future. I’m proud of the work our teams are
accomplishing together to propel this project forward.”
Eric Desaulniers, Founder, President and CEO of NMG, said: “It
started with a bold vision. Going all-electric at our Matawinie
Mine is the way to go; environmentally to limit our carbon
footprint, socially to rally the community behind a new mining
development and to reduce the sound level of our operations, and
commercially to engage with battery/EV manufacturers and tap into
consumers’ responsible purchasing desires. Now, Caterpillar is
providing us with a comprehensive solution, de-risking the adoption
of new technologies and optimizing operational excellence through
integrated infrastructure.”
Through definitive agreements signed earlier this year,
Caterpillar is set to be NMG’s supplier of heavy mining equipment,
supporting the progressive transition from traditional models to
Cat® zero-exhaust emission machines as they become available.
Moreover, NMG and Caterpillar signed a non-binding memorandum of
understanding to advance commercial discussions targeting NMG’s
active anode material. Hence, a full circular value chain could be
established whereas NMG would supply carbon-neutral graphite
materials to Caterpillar for the development of its secure,
resilient, and sustainable battery supply chain that would serve to
electrify heavy vehicles, including NMG’s Matawinie fleet.
Clean Energy to Support Decarbonization
Québec’s energy grid is among the greenest in the world.
Hydro-Québec generates over 99% of its electricity from renewable
energy sources, mainly through hydroelectric generating stations,
for an emission factor of 0.6 kg CO2 eq/MWh (Hydro-Québec,
2021).
NMG’s confirmed capacity to tap into this electricity network
provides a solid foundation for deploying new equipment and
proprietary technologies with a view to produce advanced materials
with a very low climate change impact, in line with global
decarbonization efforts. An independently conducted cradle-to-gate
life cycle assessment for the Company’s portfolio of graphite-based
materials, confirmed the minimal and industry-leading environmental
footprint of its production. NMG’s full commercial-scale Phase-2
all-electric facilities are forecasted to produce active anode
material for lithium-ion batteries with a Global Warming Potential
of 1.23 kg CO2 equivalent per kg, an impact up to 11 times smaller
than that of benchmarked production.
Advancement of electrification initiatives aligns with NMG’s
objective of reaching Net Zero by 2030 as detailed in the Company’s
Climate Action Plan. NMG has placed environmental stewardship at
the heart of its business strategy. Maintaining a carbon-neutral
footprint and bringing to market Net Zero products provide a
competitive advantage in the battery and electric vehicle sector as
manufacturers actively seek to reduce their Scope 3 emissions,
comply with regulatory requirements, and respond to consumer
demands for sustainable, responsible production.
About Nouveau Monde Graphite
Nouveau Monde Graphite is striving to become a key contributor
to the sustainable energy revolution. The Company is working
towards developing a fully integrated source of carbon-neutral
battery anode material in Québec, Canada, for the growing
lithium-ion and fuel cell markets. With enviable ESG standards, NMG
aspires to become a strategic supplier to the world’s leading
battery and automobile manufacturers, providing high-performing and
reliable advanced materials while promoting sustainability and
supply chain traceability. www.NMG.com
Subscribe to our news feed: https://bit.ly/3UDrY3X
Cautionary Note
All statements, other than statements of historical fact,
contained in this press release including, but not limited to those
describing the initiatives described in this press release, the
intended commercial production of high-performing active anode
material with a carbon-neutral footprint, the Company’s commitments
and objectives described in this press release, including those
related to Net Zero, the Company’s performance with respect to the
initiatives described in this press release, the positive impact of
the foregoing on project economics, the construction of the
Hydro-Québec powerline, the deployment of early learners, pilot
models and Cat® zero-exhaust emission machines at the Matawinie
Mine, the potential supply by NMG of graphite materials to
Caterpillar, the planned development of the Matawinie Mine and the
Bécancour Battery Material plant, the general business and
operational outlook of the Company, and those statements which are
discussed under the “About Nouveau Monde” paragraph and elsewhere
in the press release which essentially describe the Company’s
outlook and objectives, constitute “forward-looking information” or
“forward-looking statements” (collectively, “forward-looking
statements”) within the meaning of Canadian and United States
securities laws, and are based on expectations, estimates and
projections as of the time of this press release. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Company as of
the time of such statements, are inherently subject to significant
business, economic and competitive uncertainties and contingencies.
These estimates and assumptions may prove to be incorrect.
Moreover, these forward-looking statements were based upon various
underlying factors and assumptions, including the current
technological trends, the business relationship between the Company
and its stakeholders, the ability to operate in a safe and
effective manner, the timely delivery and installation at estimated
prices of the equipment supporting the production, assumed sale
prices for graphite concentrate, the accuracy of any Mineral
Resource estimates, future currency exchange rates and interest
rates, political and regulatory stability, prices of commodity and
production costs, the receipt of governmental, regulatory and third
party approvals, licenses and permits on favorable terms, sustained
labor stability, stability in financial and capital markets,
availability of equipment and critical supplies, spare parts and
consumables, the various tax assumptions, CAPEX and OPEX estimates,
all economic and operational projections relating to the project,
local infrastructures, the Company’s business prospects and
opportunities and estimates of the operational performance of the
equipment, and are not guarantees of future performance.
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, those risks, 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
March 23, 2023, including in the section thereof captioned “Risk
Factors”, which is available on SEDAR+ at www.sedarplus.ca and on
EDGAR at www.sec.gov. Unpredictable or unknown factors not
discussed in this Cautionary Note could also have material adverse
effects on forward-looking statements.
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 Company 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 Company
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 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.
Further information regarding the Company is available in the
SEDAR+ database (www.sedarplus.ca), and for United States readers
on EDGAR (www.sec.gov), and on the Company’s website at:
www.NMG.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231006019824/en/
MEDIA Julie Paquet VP Communications & ESG Strategy
+1-450-757-8905 #140 jpaquet@nmg.com
INVESTORS Marc Jasmin Director, Investor Relations
+1-450-757-8905 #993 mjasmin@nmg.com
Nouveau Monde Graphite (NYSE:NMG)
Historical Stock Chart
From Apr 2024 to May 2024
Nouveau Monde Graphite (NYSE:NMG)
Historical Stock Chart
From May 2023 to May 2024