Business
Westwater Resources Announces Third Quarter 2020 Results and Business Update
CENTENNIAL, Colo. / Nov 12, 2020 / Business Wire / Westwater Resources (NASDAQ: WWR), an energy materials development company, today announced its results for t
About this update from Westwater Resources, Inc.
[{"type":"text","content":"CENTENNIAL, Colo. / Nov 12, 2020 / Business Wire / Westwater Resources (NASDAQ: WWR), an energy materials development company, today announced its results for the third quarter ended September 30, 2020 and provided an update on its materials development business. Founded four decades ago and originally incorporated to mine uranium, Westwater Resources has been reinvented as a 21st century energy materials development company focused on the production of battery-grade graphite. The Company’s Coosa Graphite Project is the most advanced graphite project in the United States and, when developed, will produce high purity battery-grade graphite, a material that is essential for the components of high-technology energy applications such as electric automobiles. Westwater recently announced delivery of 30 metric tonnes of natural flake graphite concentrate at pilot plant contractor Dorfner Anzaplan’s facility in Hirschau, Germany. This material is being utilized in the Company’s pilot plant facilities presently under construction in Germany, upstate New York and Illinois. Operation of the pilot plants is expected to commence this month and continue through March 2021. Westwater continues to develop a proprietary process for the production of non-Chinese battery-grade graphite. The Company has filed a provisional patent application with the U.S. Patent and Trademark Office for its proprietary graphite purification technology, which produces battery-grade graphite with a more sustainable environmental footprint than that produced in China. Independent performance testing of Westwater’s ULTRA-CSPG™ (Coated Spherical Purified Graphite or \"CSPG”) material produced in a laboratory setting shows that it performs as well or better than benchmark commercially available natural flake and synthetic materials. Independent performance testing of Westwater’s ULTRA-PMG™ (Purified Micronized Graphite or “PMG”) material has also shown outstanding resistivity values as a conductivity enhancer. During the third quarter, Westwater added to its management team by appointing Jay Wago as Vice President of Sales and Marketing. Mr. Wago has years of solid experience in the battery materials business, and he has been tasked with bolstering the Company’s marketing strategy to create greater awareness of Westwater’s American-made graphite battery material to end-...