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VANCOUVER, 18 July 2023: Graphite One Inc, a company planning to build a complete domestic US supply chain for advanced graphite materials, has been awarded a USD 37.5m grant from the Department of Defense (DoD) under the Defense Production Act (DPA).
The grant will assist Graphite One in accelerating its feasibility study for its Graphite Creek Project, which is 35 miles north of Nome, Alaska. Graphite Creek is the country’s largest known graphite resource, and the DoD grant will help to ensure that the United States has a secure supply of this critical mineral.
Graphite is a key component in lithium-ion batteries, which are used in electric vehicles and other clean energy technologies. The demand for graphite is expected to grow significantly in the coming years, and the DoD grant will help to ensure that the United States can meet this demand.
“This grant is a significant milestone for Graphite One and the domestic graphite industry in the United States,” said Anthony Huston, founder and CEO of Graphite One. “It will help us to accelerate our plans to build a 100% US-based advanced graphite supply chain, which is essential to meeting the growing demand for clean energy technologies.”
The DoD grant is part of the Biden administration’s efforts to secure the US supply chain for critical minerals. The administration has identified graphite as one of 35 critical minerals, and the DoD grant is a significant step towards ensuring that the United States has a secure supply of this mineral.
“This investment to increase domestic graphite capabilities exemplifies Industrial Base Policy’s commitment to building a resilient industrial base to meet current and future national defence requirements,” said Dr. Laura Taylor-Kale, Assistant Secretary of Defence for Industrial Base Policy.
The Graphite Creek Project is expected to create hundreds of jobs in Alaska, and the DoD grant will help to support these jobs. The project is also expected to generate millions of dollars in economic activity for the state.
“We are grateful for the Department of Defense’s support, as well as the strong support we’ve received from Alaskan public officials,” Mr. Huston added. “We are committed to building a world-class graphite mine in Alaska, and this grant will help us make that vision a reality.”
The DoD grant is a significant milestone for Graphite One and for the U.S. domestic graphite industry. It will help to ensure that the United States has a secure supply of this critical mineral, and it will create hundreds of jobs in Alaska.
