Nouveau Monde Graphite, Mitsui and Panasonic Energy have entered into a framework agreement to enable the next development steps of NMG’s ore-to-battery-market integrated graphite project in Québec.
The deal includes a multi-year offtake agreement between NMG and Panasonic Energy for a significant portion of NMG’s active anode material.
Also, an investment of US$50 million from Mitsui, Pallinghurst and Investissement Québec will support the next operational milestones for the Matawinie Mine and the Bécancour Battery Material Plant.
“This strategic partnership with NMG will allow us to explore the possibility of establishing an environmentally friendly supply chain in North America through a completely new integrated anode production in Canada,” said Panasonic Energy CEO Kazuo Tadanobu.
“This transformative partnership…is set to provide NMG with a solid commercial foundation for deploying our phase-2 commercial operations,” said Eric Desaulniers, founder and CEO of NMG. “Their participation is a lever to advance our business plan towards establishing what is projected to become North America’s largest fully integrated natural graphite production.”
“NMG is committed to delivering the highest quality anode material, exclusively mined and produced in North America,” said Arne H Frandsen, Chair of NMG. “We will continue to vigorously increase our relevance in the North American market, benefitting from US and Canadian legislation supporting locally produced batteries.”