Westwater Resources, Inc., a Colorado-based company established in 1977, pivoted from its original uranium mining focus to become a leading American developer of battery-grade natural graphite for lithium-ion batteries. Its mission is to provide sustainable, domestically sourced energy materials critical for advancing clean energy systems. As U.S. demand for electric vehicles (EVs) and renewable energy storage grows, Westwater positions itself as the first domestically vertically integrated producer of high-purity graphite, aiming to reduce dependence on foreign imports.
The company’s core asset, the Kellyton Graphite Processing Plant in Alabama, is nearing completion and marks a milestone in its strategy. This facility will supply coated spherical purified graphite (CSPG) and other graphite products to global markets. Westwater’s commitment to environmental responsibility and supply-chain security is central to its business, aligning with U.S. policies promoting domestic critical mineral production.
Battery Technology
Westwater specializes in producing graphite products tailored for diverse battery applications. Its flagship product, Coated Spherical Purified Graphite (CSPG), is a key component of lithium-ion battery anodes—each EV battery requires over 200 pounds of graphite. The company’s DEXDG formulation enhances battery conductivity and charging speeds, while Purified Micronized Graphite (PMG) boosts performance in lead-acid, alkaline, and low-cost lithium primary batteries. These products are sourced from the Coosa Graphite Deposit in Alabama, one of the largest known graphite reserves in the continental U.S., ensuring consistent, high-purity supply.
Manufacturing innovations include ISO-compliant quality and environmental management systems, reducing operational risks and environmental impact. Phased expansion at Kellyton within the past two years prioritized sustainability: Phase I construction costs decreased by almost 10%, and capacity ramped up to 12,500 metric tons of CSPG annually. The plant’s qualification line, now operational, produces one metric tonne of CSPG daily for initial testing, with advanced purification and coating technologies enabling superior product consistency.
Recent Projects
Recent advancements underscore Westwater’s progress. In March 2025, the company launched a $50 million “at the market” stock offering to diversify its investor base, coinciding with securing $150 million in debt financing for Phase I completion. Earlier in 2025, Kellyton achieved ISO 9001 and 14001 certifications, ensuring quality production and environmental compliance.
The Kellyton plant’s Phase I capacity expansion, announced in 2024, now targets 12,500 metric tons annually, part of a broader partnership with Hiller Carbon to produce 14,000 metric tons of graphite fines per year. Prior investments, such as a 2024 exclusivity agreement for secured debt financing, have further fortified its project timelines, aligning with federal regulatory support for critical mineral manufacturing.
Investors
Westwater’s shareholder base reflects a mix of public, institutional, and strategic investors. Public investors hold 90.17% of shares, with major institutions—including T. Rowe Price Associates and Vanguard Group—holding 7.03%. Company insiders, including Executive Chairman Terence J. Cryan and CFO Steve Cates, own between 2.8% and 4.27%. Public entities control an additional 3.21%.
The company has attracted financial support through structured debt agreements and stock offerings. Cantor Fitzgerald assists in syndicating Phase I financing, while a 2024 agreement with a global financial institution advanced access to debt funds. Westwater emphasizes transparency through regular SEC filings, shareholder updates, and presentations, reinforcing investor confidence as demand for battery materials accelerates.
Business Details
Location: Centennial, Colorado, USA
Website: https://westwaterresources.net/
LinkedIn: https://www.linkedin.com/company/35452853
