On June 4, 2025, Graphite One Inc. announced a second non-binding supply agreement with Lucid Group, Inc. for natural anode active materials (AAM). This arrangement complements their July 2024 agreement covering synthetic graphite AAM, enabling Graphite One to supply both natural and synthetic graphite materials for battery anodes to a U.S. electric vehicle manufacturer.
Graphite One’s agreement follows its recent listing on the U.S. Federal Fast-41 Permitting Dashboard and completion of a National Instrument 43-101 Feasibility Study—funded in part by a $37.3 million Department of Defense award under the Defense Production Act. The feasibility study, delivered 15 months ahead of schedule, revealed a tripling of the company’s proven and probable graphite reserves.
Under the terms of the new Supply Agreement, which becomes effective once Graphite One begins production of natural graphite, Lucid and its battery cell suppliers will receive AAM over an initial five-year term, subject to earlier termination and pricing based on a mutually agreed formula. Standard conditions and termination rights apply.
“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.”
Graphite One’s planned U.S. supply chain includes mining graphite concentrate from its Graphite Creek deposit in Alaska and manufacturing AAM at a proposed facility in Warren, Ohio, with a future recycling plant for reclaimed graphite and other battery materials.
Source: Graphite One Inc.
