Graphite One Secures $37.5M DoD Grant To Boost Domestic Graphite Supply Chain
Funding Comes as Graphite Declared "Essential Material"
In a bold step toward securing a domestic supply chain for advanced graphite materials, Graphite One Inc. announced that it has been awarded a substantial Department of Defense (DoD) Technology Investment Agreement grant. The award, worth $37.5 million, has been secured under the Defense Production Act (DPA) Title III, with funds sourced from the Inflation Reduction Act (IRA).
This DoD funding for Graphite One’s wholly-owned subsidiary, Graphite One (Alaska) Inc., is earmarked for an expedited feasibility study. The study aims to modernize and expand domestic production capacity and supply of graphite battery anodes—a key component in the manufacturing of electronic vehicles and alternative energy batteries, thus marking it as an essential national defense technology item.
The significant DoD grant comes in the wake of graphite being designated an essential material for national defense under the DPA. As it stands, the U.S. is entirely dependent on imports for its graphite needs, with China being the predominant global producer.
The DPA funding presents Graphite One with an opportunity to expedite the feasibility study of its Graphite Creek Project, located 35 miles north of Nome, Alaska. The U.S. Geological Survey recently validated Graphite Creek as the nation's most abundant known graphite resource and ranked it among the world's largest.
As the United States grapples with a 100 percent import dependency for natural graphite, Graphite One’s strategic roadmap includes the development of an entirely U.S.-based, sophisticated graphite supply chain solution.
This solution is anchored by the bountiful Graphite Creek resource. The project blueprint includes an advanced graphite material and battery anode manufacturing facility, projected to be located in Washington State and integrated with the Graphite Creek property development.
In keeping with a circular economy approach, the project also incorporates a recycling facility, destined to be co-located at the Washington State site. This facility aims to recover graphite and other battery materials, thereby creating the third link in Graphite One's circular economy strategy.
This strategic initiative by Graphite One underscores its commitment to meet the growing domestic demand for graphite in a sustainable and environmentally-conscious manner. By leveraging the potential of the Graphite Creek resource, Graphite One aims to break the chains of foreign graphite dependence, simultaneously paving the way for domestic industrial growth and an increased pace of green technological innovation.
As the nation anticipates an increase in demand for electronic vehicles and alternative energy batteries, this development marks a significant stride towards building a robust, self-reliant supply chain for advanced graphite materials. This endeavor not only supports U.S. economic and industrial growth but also bolsters the nation's defense capabilities by ensuring a steady supply of this crucial resource.