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Graphite One and Lucid Announce Non-Binding Supply Agreement for Anode Active Materials at US Capitol Briefing

2024-07-29 17:04:45.045000

India-based Epsilon Advanced Materials, Inc. plans to establish its first U.S. manufacturing operation in Brunswick County, North Carolina. The facility will produce synthetic graphite anode material for electric vehicle batteries. The project is estimated to grow the state's economy by $1.3 billion over 12 years. The company will receive a Job Development Investment Grant (JDIG) of up to $3,443,250, subject to meeting job creation and investment targets. The JDIG agreement also includes moving $1.14 million into the state's Industrial Development Fund - Utility Account. Epsilon Advanced Materials is a subsidiary of Mumbai-based Epsilon Carbon Private Limited. The facility is expected to create approximately 500 new jobs and will produce high-capacity anode materials for EV batteries. The company aims to power 1.10 million EV vehicles by 2030. The facility will utilize green technologies and is set to begin manufacturing in 2026, reaching full capacity by 2031. The strategic location of the facility offers proximity to the Wilmington port, automotive suppliers, and Southeastern vehicle manufacturing facilities. EAM is already in discussions with local raw material suppliers and transportation partners for its North Carolina operations. The investment aims to strengthen the EV battery industry in the US and contribute to building resilient and trusted supply chains. [78cb90ae]

The United States is seeing an investment surge in the electric vehicle (EV) industry as President Joe Biden pushes to rebuild industrial communities and grow domestic supply chains. A new 'battery belt' has emerged in the southeast, including North Carolina and Georgia, with factories for EV batteries and components. Toyota is investing in a $13.9 billion battery plant in North Carolina that will employ 5,100 people by 2028. EV fast-charger manufacturer Kempower is investing over $40 million in North Carolina, creating hundreds of jobs. The rise of non-union workforces in the southern areas has attracted pressure on Biden to deliver on his promise of 'good union jobs.' The investments are also driven by market forces and the global trend towards green transition. [78cb90ae]

Meanwhile, residents in Gaston County, North Carolina are expressing concerns over a proposed lithium mine project by Piedmont Lithium. The $1.2 billion project aims to produce battery-grade lithium for electric vehicle (EV) supply chains. The push for domestic lithium production is part of President Joe Biden's efforts to build domestic EV and battery industries and reduce dependence on China. However, residents are worried about the environmental impact of the mine, including water pollution and reduced water supplies. The mine is expected to operate for around a decade, leading to concerns about the long-term sustainability of jobs and farms in the area. While some residents support clean energy, they have reservations about the push for EVs due to a lack of charging infrastructure and high costs. The project has received a state mining permit but still requires further local permissions. The decision on the project is expected to be reached by November. [e68f93ec]

Scientists from the University of Pittsburgh have discovered a large amount of lithium located in Pennsylvania's Marcellus Shale gas wells. The lithium could potentially supply more than a third of America's needs for the mineral. The researchers analyzed compliance data from the Pennsylvania Department of Environmental Protection to determine their results. The study noted that as decarbonization efforts across the U.S. grow more popular, the demand for lithium increases despite rising supply chain concerns. Lithium is considered essential to the U.S. economy due to domestic consumption in energy, manufacturing, and defense. The U.S. Geological Survey classifies lithium as a critical mineral, with its biggest uses including rechargeable batteries in cellphones and electric vehicles. The researchers hope that the discovery sheds light on creative remediation and reuse of the fluids from fracking. The wastewaters of the Marcellus Shale gas wells could potentially cover between 30 and 40 percent of the current U.S. national demand for lithium. [12632fc9]

Pennsylvania has over 50 trillion cubic feet of accessible natural gas deposits. A recent study found that Pennsylvania's unconventional wells produce wastewater containing sufficient lithium to meet 38 to 40 percent of current U.S. consumption. The study estimated that approximately 1,160 metric tons of lithium could be extracted annually from this produced water. The Marcellus Shale Coalition welcomed the findings, highlighting the potential for Pennsylvania's natural gas to enhance U.S. energy security and environmental sustainability. However, some experts remain cautious about the economic feasibility and environmental impact of extracting lithium from wastewater at scale. Eureka Resources is already working on lithium extraction from produced water and plans to implement the process in their Pennsylvania facilities within the next two years. Further research is needed to understand the economic and technological implications fully. [79ff1dd6]

Quantum Graphite and Sunlands Energy are closer to securing a $300 million funding solution for their graphite project in the US. The Export-Import Bank of the United States (EXIM) has expressed interest in providing the financing. The project, called Project Utile, involves sourcing graphite from Quantum's Uley 2 resource in South Australia and purifying it using Sunlands' technology. The funding would support mining and production of graphite concentrate at Uley 2, production of high-purity graphite at a Sunlands Energy facility in South Carolina, and logistics infrastructure in both Australia and the US. The JV aims to deliver up to 100,000 tonnes per annum of high-purity graphite. The financing deal is subject to EXIM's due diligence process. [25bc6f5f]

Graphite One Inc. and Lucid have announced a non-binding supply agreement for anode active materials (AAM) at a U.S. Capitol briefing. The agreement marks the first step in a 100% U.S.-based supply chain linking Alaska, Ohio, and Arizona. Graphite One is developing a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek deposit, recognized as the largest graphite deposit in the U.S. The plan includes an advanced graphite material and battery anode material manufacturing plant in Warren, Ohio, and a recycling facility to reclaim graphite and other battery materials. The partnership has received support from Senators, Members of the House of Representatives, and Alaska Governor Mike Dunleavy. The Bering Straits Native Corporation, which owns and manages a subsurface estate of approximately 2.1 million acres, also supports the agreement. The Graphite One-Lucid agreement is seen as a positive step towards developing Alaska's reserves of critical minerals and metals and reducing America's dependence on China for critical minerals. [c776c85b]

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