April 4, 2022
Graphite One (TSXV:GPH) (OTCQX:GPHOF) Announces MOU with Lab 4 Inc. to Design and Build Lithium-Ion Battery Recycling Plant in Washington State
- Graphite One has signed an initial Memorandum of Understanding (MOU) with battery materials recycler Lab 4 Inc.
- The initial MOU proposes a collaboration to design, develop, and build a recycling facility for end-of-life electric vehicle (EV) and lithium ion batteries
- The recycling facility would be located adjacent to Graphite One’s planned advanced materials manufacturing plant in Washington State
- Shares in Graphite One (GPH) are currently up 2.7% on the TSXV, trading at CA$1.90 per share
Graphite One has signed an initial Memorandum of Understanding (MOU) with battery materials recycler Lab 4 Inc. of Nova Scotia, Canada.
Lab 4 Inc. provides laboratory and engineering support to mining companies with a focus to recycle graphite, manganese, and other minerals.
The initial MOU is non-binding and proposes a collaboration to design, develop, and build a recycling facility for end-of-life electric vehicle (EV) and lithium ion batteries.
“Battery materials are simply too critical and too scarce to let them go to waste,” said Graphite One President and CEO Anthony Huston. “That all points to recycling battery materials – and for Graphite One, this pointed us to Lab 4 and their ground-breaking work to recycle these materials right back into our planned manufacturing plant.”
The recycling facility would be located adjacent to Graphite One’s planned advanced materials manufacturing plant in Washington State, the location of which was announced on March 14, 2022.
“Adding recycling to renewable materials development is the missing piece in a true circular economy,” remarked Lab 4 CEO Dr. Ian Flint. “We look forward to a partnership that sets a new standard for the renewable energy sector.”
This initial MOU indicates the intention of Graphite One and Lab 4 to enter into a definitive agreement, based on the successful completion of due diligence by both parties, a mutual agreement, and regulatory approval.
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.
Shares in Graphite One (GPH) are currently up 2.7% on the TSXV, trading at CA$1.90 per share as of 3:41 pm EST.
On the OTCQX, GPHOF is up 3.38% to US$1.53 per share.
For more information about Graphite One, visit the Company’s website. To view the full version of this release, click here.
About the Kinvestor Network
The Kinvestor Network is an exclusive network of investors that want access to enhanced research and reporting. Members of the Kinvestor Network have access to exclusive articles, reports, models and various other tools that investors may find useful.
Visit the Kinvestor Network for more free content, including in-depth research reports, industry documentaries, CEO interviews, and more.
Please read this disclaimer in its entirety before reviewing any opinions, views or information expressed by Kin Communications Inc. (“Kin”).
