Graphite One Selects Ohio's Voltage Valley for Graphite Anode Facility

Graphite One Inc. (TSX-V: GPH; OTCQX: GPHOF), known as Graphite One or G1, dedicated to establishing a comprehensive domestic U.S. supply chain for advanced graphite materials, has announced a significant development. Graphite One Inc.'s wholly owned subsidiary, Graphite One (Alaska), Inc. (G1 AK), has strategically selected Ohio's famed "Voltage Valley" as the prime location for its graphite anode manufacturing plant. This decision comes following the execution of a land lease agreement for a 50-year term, inclusive of an option to purchase, outlining the terms and conditions of the lease.

The selected site, nestled in Niles, Ohio, holds historical significance as a former brownfield site utilized for the storage of critical minerals earmarked for national defense by the U.S. government. Furthermore, the site has undergone rigorous processing through Ohio's Environmental Protection Agency (EPA) Voluntary Action Program, ensuring compliance with environmental standards. Situated within the bustling automotive industry epicenter, the region boasts abundant access to low-cost electricity generated from renewable energy sources. With convenient road and rail access, supplemented by nearby barging facilities, the site's infrastructure is well-equipped to support Graphite One's operational needs. Existing power lines are deemed adequate to accommodate the Phase 1 production target of 25,000 tons per year (tpy) of battery-ready anode material, with ample land available for subsequent phases aimed at scaling up to 100,000 tpy of production. Adequate water supply further fortifies the site's capability to sustain expanded operations.

The proposed Ohio facility under G1 AK's jurisdiction is slated to specialize in the manufacturing of synthetic graphite anode active materials. Expansion into the production of natural graphite anode active materials is envisioned to coincide with the availability of feedstock from Graphite One's Graphite Creek Project located near Nome, Alaska. This strategic move underscores Graphite One's commitment to establishing a robust 100% U.S.-based advanced graphite supply chain, encompassing mining, refining, and recycling processes.

Expressing enthusiasm over this milestone, Anthony Huston, President and CEO of G1, remarked, "Graphite One is delighted to announce that, subject to financing, we will be building our advanced graphite material processing plant in northeast Ohio as the region emerges as a major electric vehicle hub." Reflecting on the historical significance of the chosen site, Huston noted its prior association as the "old Warren Depot," which housed graphite within the National Defense Stockpile over three decades ago, marking a significant juncture in the nation's graphite mining history. He emphasized Ohio's suitability as the ideal location for advancing the company's strategic vision, aiming to foster a resilient U.S.-based advanced graphite supply chain indispensable for driving the nation's 21st-century tech-driven economy forward.

The Phase 1 facility, projected to produce 25,000 tons per year (tpy), is estimated to require an initial capital investment of around $435 million. It is forecasted to create employment opportunities for over 160 individuals from the local community. Moreover, the Warren Depot location has the potential to expand its operations to accommodate a facility producing up to 100,000 tpy. Currently, the Company is exploring different options for financing the project.