Falcon Energy awards pilot plant construction contract

Executive Summary

• Falcon Energy Materials announced a key construction milestone for its pilot plant in Jorf Lasfar, Morocco, keeping the project on track for Q4 2025 completion.
• First coated spherical purified graphite (CSPG) samples for customer testing are expected as early as September 2025, supporting future offtake agreements for a 25,000‑tpa commercial anode plant.
• The pilot plant is designed to produce 100 kg/day of CSPG and the eventual commercial plant is projected to generate $152 million EBITDA annually at a 62% margin.

Key Details

• Construction contract awarded to Open Steel Structure Maroc SARL (Moroccan subsidiary of Open Building Systems, China).
• Steel shipments to the site scheduled for early September 2025; building completion targeted for November 2025.
• All major processing equipment has been delivered to Hensen Graphite Carbon Corp. in China for assembly and testing before shipment to Morocco.
• Pilot plant production capacity: 100 kg per day of high‑purity CSPG, enabling large‑scale customer qualification programs.
• Commissioning remains on schedule for Q4 2025; first CSPG samples for customer testing expected September 2025.
• Strategic location within Fluoralpha SA’s industrial zone provides access to port infrastructure, competitive operating costs, and proximity to European and North American markets.
• Projected EBITDA of the future 25,000‑tpa commercial anode plant: $152 million per year at a 62% margin.
• CEO Matthieu Bos emphasized the pilot plant’s role in establishing a non‑Chinese supply chain for battery anodes and securing long‑term offtake agreements.

Notable Quotes

“With this pilot plant, Falcon is not just producing graphite samples – we are achieving key milestones that bring us closer to establishing a major anode production facility and securing a reliable, diversified supply of essential materials,” — Matthieu Bos, Chief Executive Officer.

All forward‑looking statements are subject to risks and uncertainties.