Graphite One (TSXV:GPH) (OTCQX:GPHOF) Selects Washington State as Location for Advanced Graphite Anode Facility
- Graphite One has chosen Washington State as the location for its advanced materials processing plant
- The new facility will utilize Washington state hydro to manufacture “green” energy material
- The use of hydro power will allow Graphite One to keep production costs as low as possible, with energy being the largest cost factor in advanced graphite anode production
- The anchor source for the facility will be the Company’s Graphite Creek resource in Alaska
- Shares in Graphite One (GPH) closed trading down 2.98% on the TSXV, trading at CA$1.63 per share
Graphite One has announced that it has chosen Washington State as the location for its advanced materials processing plant, which will bring battery anode production to the United States.
Currently, the United States is completely reliant on outside sources of graphite. With the largest graphite deposit in the country, Graphite One is well-positioned to play a major role in a 100% U.S.-based advanced graphite supply chain.
“Washington State offers the opportunity for Graphite One to use a green energy source – Washington state hydro – to manufacture a green energy material,” said Graphite One President and CEO Anthony Huston. “That’s core to our commitment at Graphite One to make our project a model of ESG in action.”
Washington State’s average 2021 electricity price to all industrial customers was 5.81 cents per KWh, compared to the U.S national average of 7.26 per KWh.
With energy being the largest single cost factor in advanced graphite anode production, Washington State hydro power is expected to provide Graphite One a significant advantage in keeping its production costs as low as possible.
The anchor source for the facility will be the Company’s Graphite Creek resource near Nome, Alaska, although the facility will also be engineered to accept multiple feedstocks required for anode production.
Graphite One continues to develop its Graphite One Project, whereby the company could potentially become an American producer of high grade Coated Spherical Graphite as used in EV and lithium ion batteries, as well as other forms of advanced graphite materials.
The Company continues to progress towards a Pre-Feasibility Study, which remains on track for completion in Q1 2022.
Shares in Graphite One (GPH) closed trading down 2.98% on the TSXV, trading at CA$1.63 per share as of 4:00 pm EST.
On the OTCQX, GPHOF is down 5.30% to US$1.25 per share.
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