Business
Nouveau Monde Graphite Provides Commercial Update and Discloses Annual General & Special Meeting Voting Results
MONTRÉAL / Jun 19, 2023 / Business Wire / Nouveau Monde Graphite Inc. (“NMG“ or the “Company”) (NYSE: NMG, TSX.V: NOU) held today its virtual Annual General and
About this update from Nouveau Monde Graphite Inc
[{"type":"text","content":"MONTRÉAL / Jun 19, 2023 / Business Wire / Nouveau Monde Graphite Inc. (“NMG“ or the “Company”) (NYSE: NMG, TSX.V: NOU) held today its virtual Annual General and Special Meeting of Shareholders (the “Meeting”). The Meeting was complemented with a corporate presentation by NMG’s management team providing shareholders with an update on the Company’s key projects, commercial engagement, and growth plan. Eric Desaulniers, Founder, President, and CEO of NMG, said: “Thanks to our fully integrated Phase-1 operations and 110+ employees committed to our development, we have made headways over the past months to optimize our advanced manufacturing technologies, engage with tier-1 customers, and secure key commitments to finance and commercialize our Phase-2 projects. The current North American market landscape is now crystalizing around major battery producers that are expanding their local production plans in partnership with electric vehicle manufacturers and strengthened by governmental incentives on each side of the border.” Propelled by the U.S.’ 2022 Inflation Reduction Act, the North American battery sector now leads the Western gigafactory race with over 1,256 GWh of battery production capacity in the pipeline by 2030 (Benchmarck Mineral Intelligence, June 2023). This localization push provides a solid backdrop for NMG’s commercialization effort as manufacturers seek alternatives to Chinese supplies. The Company is actively working with Panasonic Energy Co., Ltd. on the back of their agreement to develop a definitive multi-year offtake agreement for NMG’s active anode material, supported by the optimization of technical production parameters and commercial discussions on a pricing mechanism. NMG believes that its fully integrated production model, from ore to battery material, provides significant advantages in terms of environmental footprint, traceability, simplified logistics, and reliability. The Company is also engaged with a number of tier-1 customers with a view to sign complementary offtake agreements. These commercial discussions are supported by the production of battery-quality samples at NMG’s facilities, site visits, quality controls, and environmental due diligence. A recording of Management’s presentation is available for viewing at https://youtu.be/L9iaIHftetQ. Matters Voted upon at the Meeting and Results Each of t...