Graphite One receives $2.07B EXIM financing interest

Executive Summary

• Graphite One Inc. has received amended, non-binding Letters of Interest (LOI) from the Export-Import Bank of the United States (EXIM) for potential debt financing, increasing the total potential support to $2.07 billion.
• The financing covers two main components: an upsized loan for the Graphite Creek project in Alaska (increased from $570 million to $670 million) and a significantly upsized loan for the advanced graphite materials manufacturing plant in Ohio (increased from $325 million to $1.4 billion).
• The Ohio facility financing supports a phased production increase to an annual capacity of 100,000 metric tons of anode active material, with a 15-year repayment tenor under EXIM's "Make More in America" initiative.

Key Details

• Total Financing Value: The combined EXIM Letters of Interest now total $2.07 billion for Graphite One’s 100-percent U.S.-based supply chain solution.
• Alaska Project Financing: The LOI for the Graphite Creek project north of Nome, Alaska, was upsized from $570 million to $670 million.
• Ohio Manufacturing Plant Financing: The LOI for the advanced graphite materials manufacturing plant in northeastern Ohio was upsized from $325 million to $1.4 billion.
• Repayment Terms: The Ohio facility financing includes a repayment tenor of 15 years.
• Production Capacity: The upsized Ohio LOI supports a phased increase in production capacity in 25,000-metric-ton increments, reaching an annual production rate of 100,000 metric tons of anode active material.
• Program Initiatives: The LOIs are executed through EXIM's "Make More in America" and "China and Transformational Exports Program (CTEP)" initiatives.
• Regulatory Context: The transaction may be eligible for special consideration under Section 402 of EXIM's 2019 Reauthorization to mitigate the competitive impact of export support from China.
• Next Steps: Graphite One expects to submit a formal application to EXIM under both LOIs in 2026. Final commitments are subject to EXIM’s due diligence, eligibility, credit, and approval requirements.
• Strategic Context: The U.S. is currently 100-percent import-dependent for natural graphite. Graphite One’s strategy involves transporting material from the Graphite Creek deposit (recognized by the USGS as the largest graphite deposit in the U.S.) via the Port of Nome to the Ohio manufacturing plant, with a potential co-located recycling facility for a circular economy strategy.

Notable Quotes

• Chairman Jovanovic: "Graphite One is building America's graphite supply chain from the ground up -- from the largest natural graphite deposit in the country in Alaska, to processing facilities in Ohio. This is exactly the kind of project President Trump's agenda demands: securing critical minerals, revitalizing American manufacturing capacity and helping support the jobs of the future across our great country."
• CEO Anthony Huston: "All of us at G1 are so appreciative of the support we are receiving from EXIM under the leadership of chairman Jovanovic. There is no reason the U.S. should be dependent on foreign-sourced graphite when we have a generational resource in Graphite Creek anchoring a 100-per-cent U.S.-based advanced graphite materials supply chain."