Published: October 24, 2022 |

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NMG’s hosts reps from Panasonic Energy on a tour of the company’s site for its future Bécancour battery material plant.
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Nouveau Monde Graphite, Mitsui & Co., and Panasonic Energy have entered into a framework agreement establishing the terms of the commercial relationship between the parties to enable the next development steps of NMG’s ore-to-battery-market integrated graphite project in Québec, Canada. NMG will use the proceeds to work in the upcoming months on optimizing the feasibility study on NMG’s phase-2 commercial integrated operations.

“We are very pleased to be participating in this strategic partnership with NMG, which 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. As a manufacturer of EV lithium-ion batteries with the largest share of the North American market, given our leading technology and depth of experience, we aim to continue driving the growth of the industry and accelerating toward a decarbonized society,” said Kazuo Tadanobu, president and CEO of Panasonic Energy.

“We are very excited to be working with NMG and participating in their mission to establish a stable lithium-ion battery supply chain for electric vehicles in North America and contribute to the realization of a low-carbon society. In particular, we are inspired by Eric Desaulniers’ vision to take on the unprecedented challenge of establishing the whole process of anode material production, from mining to manufacturing, which is to be completed in North America in an environmentally friendly way,” said Hiroshi Kakiuchi, managing officer of Mitsui.

“NMG is committed to delivering the highest quality anode material, exclusively mined and produced in North America. The partnership with Panasonic Energy and Mitsui — two blue-chip leaders of the industry — should further secure our leading position in the battery materials space. More than ever, we will continue to vigorously increase our relevance in the North American market, benefitting from U.S. and Canadian legislation supporting locally produced batteries,” said Arne Frandsen, chair of NMG.

“I am delighted to embark on this transformative partnership with experienced and industry-leading partners Mitsui and Panasonic Energy. It is set to provide NMG with a solid commercial foundation for deploying our phase-2 commercial operations. Their participation is a testament to our sound business model and a lever at this pivotal time to advance our business plan towards establishing what is projected to become North America’s largest fully integrated natural graphite production,” said Eric Desaulniers, founder, president, and CEO of NMG.

As part of the transaction, a framework agreement was signed by NMG, Mitsui, and Panasonic Energy that defines the role and responsibilities of the parties in the coming months, including optimization of the feasibility study and other important project-related operational milestones. NMG plans to use the proceeds from the investment to support the finalization of the design, operation, marketing, and corporate parameters of the phase-2 Matawinie Mine and Bécancour Battery Material Plant. The intention is to proceed with project financing and the final investment decision (FID) on both the Matawinie Mine and Bécancour Battery Material Plant once that optimization phase is completed and all operational variables are well understood. Based on information available today, NMG anticipates a 28-month construction period following FID to bring its operations to commercial production. The framework agreement and the side letter agreements/investment agreements will become effective at closing.

The offtake and strategic partnership covers NMG’s fully integrated operations with a special interest in the company’s anode active material which has demonstrated industry-leading environmental footprint in a recent life cycle assessment. NMG’s planned all-electric operations powered by renewable energy combined with clean processing technologies are set to generate advanced materials with an exceptionally low climate change impact, in line with global decarbonization efforts.

About Nouveau Monde Graphite
NMG is striving to become a key contributor to the sustainable energy revolution. The company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, NMG aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability.

To stop by NMG’s website, CLICK HERE

About Mitsui
Mitsui & Co. s a global trading and investment company with a diversified business portfolio that spans approximately 63 countries in Asia, Europe, North, Central and South America, The Middle East, Africa, and Oceania. Mitsui has built a strong and diverse core business portfolio covering the mineral and metal resources, energy, machinery and infrastructure, and chemicals industries. Mitsui has a long heritage in Asia, where it has established a diverse and strategic portfolio of businesses and partners that gives it a strong differentiating edge, provides exceptional access for all global partners to the world’s fastest growing region and strengthens its international portfolio. 

To stop by Mitsui’s website, CLICK HERE

About Panasonic Energy
Panasonic Energy established in April 2022 as part of the Panasonic Group’s switch to an operating company system, provides innovative battery technology-based products and solutions globally. Through its automotive lithium-ion batteries, storage battery systems and dry batteries, the company brings safe, reliable, and convenient power to a broad range of business areas, from mobility and social infrastructure to medical and consumer products. Panasonic Energy is committed to contributing to a society that realizes happiness and environmental sustainability, and through its business activities the company aims to address societal issues while taking the lead on environmental initiatives.

To stop by Panasonic’s website, CLICK HERE

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