Graphite One Inc., a company planning a complete domestic U.S. supply chain for advanced graphite materials, announced that it has received a non-binding Letter of Interest (LI) from the Export-Import Bank of the United States (EXIM). The LI indicates potential debt financing of up to $325 million through EXIM’s “Make More in America” and “China and Transformational Exports Program” (CTEP) initiatives.
Based on the preliminary information submitted regarding expected U.S. exports and U.S. jobs supported by this project, EXIM may be able to consider potential financing of up to $325 million of the project’s costs with a repayment tenor of 15 years under EXIM’s Make More in America initiative.”
“Today’s announcement confirms Graphite One’s focus on developing a 100% U.S.-based advanced graphite materials supply chain,” said Anthony Huston, President and CEO of Graphite One. “EXIM’s potential financing, following our two Department of Defense grants under the Defense Production Act and from the Defense Logistics Agency, underscores the urgent need to bring U.S. graphite supply into production and end the nation’s 100% foreign dependency.”
The company intends to make a production decision on the Graphite One Project upon completion of its Feasibility Study, now expected in the first quarter of 2025. The study’s release has been delayed from December 2024 to allow for the review and analysis of additional geotechnical data resulting from an extended summer drilling program.
With the United States nearly 100% import-dependent for anode materials, Graphite One is developing a comprehensive U.S.-based advanced graphite supply chain. Anchored by the Graphite Creek deposit in Alaska—recognized by the U.S. Geological Survey as the largest in the nation “and among the largest in the world”—the project includes an advanced graphite material and battery anode manufacturing plant in Warren, Ohio. A recycling facility to reclaim graphite and other battery materials will be co-located at the Ohio site, forming the third link in Graphite One’s circular economy strategy. The development of these facilities remains subject to financing.
Source: Graphite One
