Intent is to share expertise and technology for the
design, construction, and operation of Graphite One's proposed
U.S.-based anode production facility to ensure it is
"purpose-built from Day One to the highest industry
standards"
VANCOUVER, BC, April 6,
2022 /CNW/ - Graphite One Inc. (TSXV: GPH)
(OTCQX: GPHOF) ("Graphite One" or the "Company") has
signed a memorandum of understanding ("MOU") with Sunrise
(Guizhou) New Energy Material Co.,
Ltd. ("Sunrise"), a Chinese lithium-ion battery anode producer. The
intent is to develop an agreement to share expertise and technology
for the design, construction, and operation of Graphite One's
proposed U.S.-based graphite material manufacturing facility.
The plan for the materials facility – the second link in Graphite
One's U.S. supply chain solution for advanced graphite products –
will be detailed in the Company's prefeasibility study expected to
be released in the first half of 2022.
![Graphite One Inc. Logo (CNW Group/Graphite One Inc.) Graphite One Inc. Logo (CNW Group/Graphite One Inc.)](https://mma.prnewswire.com/media/1781471/Graphite_One_Inc__Graphite_One_Signs_MOU_with_Experienced_Lithiu.jpg)
"With the many gigafactories being built in the U.S., Sunrise is
excited to enter into this MoU with Graphite One, with the largest
natural graphite deposit in North
America," said Mr. Haiping
Hu, Chairman of Sunrise New Energy Material Co., Ltd.
"We look forward to assisting Graphite One with the development of
its planned anode facility to serve the American market at this
critical moment in the transition to the low-carbon energy future
we all seek."
"It is well understood in the North American graphite
development sector that battery anode process expertise resides in
China," said Anthony Huston, CEO of Graphite One. "As
Graphite One works to develop North
America's first complete advanced graphite material supply
chain, the technical acumen Sunrise can provide, could allow us to
optimize our processing capacity and ensure our new U.S.-based
facility is purpose-built from Day One to the highest industry
standards."
About Sunrise
Sunrise produces 6,000 tonnes per year of lithium-Ion battery
anode materials and has an established research and development
base. Its 100,000 tonne per year anode production facility is under
construction in China's
Guizhou Province with completion
expected by the end of 2023. The main products include artificial
graphite, natural graphite, composite graphite, and other anode
materials. Sunrise's principals each have over 20 years experience
in commercially supplying lithium-Ion battery anode materials to
major battery producers and are named on over 100 related
patents.
About Graphite One Inc.
GRAPHITE ONE INC. (GPH: TSX‐V; GPHOF: OTCQB) continues to
develop its Graphite One Project (the "Project"), whereby the
Company could potentially become 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. As set forth in the Company's Preliminary Economic
Assessment, potential graphite mineralization mined from the
Company's Graphite Creek Property, is expected to be processed into
concentrate at a graphite processing plant. The proposed processing
plant would be located on the Graphite Creek Property situated on
the Seward Peninsula about 60 kilometers north of Nome,
Alaska. Graphite anodes and other value‐added graphite
products would be manufactured from the concentrate and other
materials at the Company's proposed advanced graphite materials
manufacturing facility expected to be located in Washington State. The Company intends to make
a production decision on the Project once a feasibility study is
completed.
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 or contact:
Anthony Huston
CEO, President & Director
Tel: (604) 889-4251
Email: AHuston@GraphiteOneInc.com
Investor Relations Contact
Tel: (604) 684-6730
Email: GPH@kincommunications.com
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.
This release includes certain statements that may be deemed
to be forward-looking statements. All statements in this release,
other than statements of historical facts, including the intent to
develop an agreement, the timing and completion of the anticipated
Pre-Feasibility Study, future production, establishment of a
processing plant and a graphite manufacturing plant, and events or
developments that the Company intends, expects, or proposes are
forward-looking statements. There is no guarantee that the MOU will
develop into an agreement or that an agreement will produce the
anticipated results or even positive results. 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.sedar.com.
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SOURCE Graphite One Inc.