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Nouveau Monde Graphite Obtains Financial Levers of Up to CA$3.6 Million to Further Develop its Advanced Transformation Processes for Environmentally Friendly Anode Material
+ Financial assistance of CA$3 million through the Québec government’s Technoclimat program to support NMG’s advanced transformation of environmentally friendly
About this update from Nouveau Monde Graphite Inc
[{"type":"text","content":"+ Financial assistance of CA$3 million through the Québec government’s Technoclimat program to support NMG’s advanced transformation of environmentally friendly anode material + Additional grants of CA$600,000 from the FRQNT to go toward two R&D projects to optimize NMG’s advanced transformation processes + Government leadership to develop critical and strategic minerals boosts NMG’s commercialization efforts and positions Québec and Canada as major players in the Western battery market + From the mine to anode material, NMG is developing a fully integrated value chain offering traceability, carbon neutrality and local sourcing of graphite products MONTRÉAL / Feb 10, 2023 / Business Wire / In line with its strategy of full vertical integration, Nouveau Monde Graphite Inc. (“NMG” or the “Company”) (NYSE: NMG, TSX.V: NOU) is continuing to develop its advanced graphite transformation technologies to supply the Western battery and electric vehicle (“EV”) market with environmentally friendly anode material. Through the Technoclimat program and the Fonds de recherche du Québec – Nature et technologies (“FRQNT”), the Government of Québec will provide the Company with financial leverage of up to CA$3.6 million for advanced graphite transformation projects. Arne H Frandsen, NMG's Chair of the Board, stated: “In addition to having the required mineral resources for the energy transition, clean hydroelectricity, an established research ecosystem, and an attractive fiscal environment, Québec has been an exceptional partner throughout all stages of NMG’s development. The funding announced today will boost our manufacturing capabilities and battery materials expertise right here in the province to serve the growing EV market.” Eric Desaulniers, Founder, President and CEO of NMG, said: “By investing in our portfolio of technologies, we are shaking off our dependence on Chinese production lines and supporting the development of an environmentally responsible and ethical battery industry in the Western World. NMG is positioning itself at the forefront of this growing sector with its fully integrated mine-to-anode-material model, its ESG commitment, and its business relationships.” Technology Projects for Active Anode Material The Government of Québec is providing financial assistance of up to CA$3 million through its Technoclimat program, a ...