The Department of Defense (DoD) has awarded Graphite One a $37.5-million grant under the Defense Production Act (DPA) to speed up the feasibility study for the supply of graphite battery anodes necessary for electric vehicles and alternative energy batteries.
The DoD grant to Graphite One follows the designation of graphite as one of the battery materials deemed under the DPA law to be "essential to the national defense”. At present, the US is 100% import-dependent for graphite, with China being the world's leading producer.
The DPA funding allows Graphite One to accelerate its feasibility study covering its Graphite Creek project, near Nome, in Alaska.
The total amount covered under the Technology Investment Agreement to fund the accelerated completion of the feasibility study is about $75-million, of which DoD's share is $37.5-million and the company's share is $37.5-million.
"Graphite One is honored to receive this award from the Department of Defense, funded by the IRA [Inflation Reduction Act], and we look forward to advancing our feasibility study programme," said founder and CEO Anthony Huston.
"This Department of Defense grant underscores our confidence in our strategy to build a 100% US-based advanced graphite supply chain – from mining to refining to recycling.”
With the US currently 100% import-dependent for natural graphite, Graphite One is planning to develop a complete US-based, advanced graphite supply chain solution anchored by the Graphite Creek resource.
The Graphite One project plan includes an advanced graphite material and battery anode manufacturing plant expected to be sited in Washington state integrated with the development of the property. The plan includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the Washington state site, the third link in Graphite One's circular economy strategy.
The US Geological Survey recently confirmed that Graphite Creek is the country's biggest known graphite resource, and "among the largest in the world”.