NMG has signed a long-term supply agreement for anode materials separately with Panasonic and General Motors

Canadian anode material producer Nouveau Monde Graphite (hereinafter referred to as NMG) has signed a long-term supply agreement for anode materials separately with Panasonic and General Motors. Additionally, Panasonic and General Motors have committed to equity investments in NMG. Specifically, NMG has signed a binding offtake agreement with Panasonic that stipulates an annual supply of 18,000 tons of natural graphite anode material to Panasonic Energy over a 7-year period. NMG has agreed with General Motors that, during the 6 years once NMG reaches full production, it will supply General Motors with 18,000 tons of natural graphite anode material annually. It is reported that NMG will extract natural graphite from its Matawinie graphite mine in Quebec and produce anode material at its planned Bécancour Phase II facility. NMG's Phase I plant has a capacity of 2,000 tons, with a planned Phase II capacity of 42,000 tons. The aforementioned offtake agreements with Panasonic and General Motors will account for approximately 85% of the anode material capacity planned for NMG's Bécancour battery material factory Phase II. NMG has also mentioned that the company has had commercial discussions with other battery manufacturers regarding the remaining capacity of the Bécancour battery material factory Phase II and continues to proceed with product certification. Furthermore, Panasonic and General Motors will invest in stages to co-invest in NMG, supporting the latter's construction work related to the Matawinie natural graphite mine and the Becancour graphite refining plant.