Graphite One Secures Key Engineering Contract and Advances Ohio Active Anode Materials Facility Toward 25,000 Tonnes of Synthetic Graphite Capacity

Executive Summary

• Graphite One announced the execution of a key engineering contract and the securing of an industrial site in Conneaut, Ohio, advancing its Active Anode Materials (AAM) manufacturing facility into detailed execution and permitting phases.
• The company outlined a phased development strategy targeting ~10,000 tonnes per year (tpy) of AAM finishing and blending operations by Q4 2027, with a subsequent expansion to 25,000 tpy of synthetic graphite and graphitization capacity by Q4 2028.
• The project aims to establish a vertically integrated domestic U.S. graphite supply chain, leveraging direct rail and Great Lakes shipping infrastructure, while navigating environmental permitting expected to conclude in Q1 2027 and exploring potential U.S. government financial support.

Key Details

• Executed an engineering contract on June 16, 2026, with a leading anode production facility engineering firm to support detailed design, optimization, equipment integration, construction readiness, and commissioning efficiency for the Ohio Facility.
• Secured a prime industrial site in Conneaut, Ohio, via an agreement with a CN Railway subsidiary, providing direct CN rail access, Great Lakes shipping access, and existing high-capacity electrical service to reduce capital intensity and accelerate development.
• Completed geotechnical drilling at the Conneaut site; environmental assessment and permitting are actively underway with a target completion date in Q1 2027.
• Phase 1 development targets initial ~10,000 tpy AAM finishing, coating, and blending operations for energy storage, fast-charging, and high-performance EV batteries, with target completion in Q4 2027.
• Phase 2 development targets expansion to 25,000 tpy of synthetic graphite and graphitization output, with target completion in Q4 2028.
• Phase 1 is expected to create 30–40 permanent manufacturing, technical, and operational jobs; Phase 2 is expected to create an additional 100–120 positions.
• North American battery graphite demand is projected to grow 11x from ~56,000 tonnes in 2023 to over 620,000 tonnes by 2030 (S&P Global Mobility).
• The Company is actively engaged in discussions with U.S. government agencies to explore potential financial support for the construction of the Ohio Facility.
• Construction and development remain subject to lease finalization, project financing, permitting, power agreements, equipment procurement, and regulatory approvals.
• Ongoing commercial discussions and AAM sample deliveries are underway with major EV manufacturers and battery companies for testing and qualification programs.
• The Graphite Creek Project in Alaska continues permitting advancement under the federal FAST-41 expedited permitting program to synchronize upstream mining and downstream processing capacity.

Notable Quotes

• "Execution is what transforms vision into production capacity," said Anthony Huston, President and Chief Executive Officer.
• "The execution of this engineering contract and the advancement of our Conneaut site represent important steps in building what we believe can become one of North America's leading domestic sources of synthetic graphite AAM. With site secured, critical infrastructure advantages in place, engineering activities underway, and a clear phased development strategy, we now have a defined, de-risked path toward establishing 25,000 tonnes per year of synthetic graphite capacity by the end of 2028."