Graphite One enters supply deal with Lucid Group

Graphite One (TSXV: GPH; OTCQX: GPHOF) has entered into an agreement with US electric car maker Lucid Group (NASDAQ: LCID) to supply anode active materials (AAM) used in batteries for at least five years.

Graphite One CEO Anthony Huston calls this deal "a historic moment" as it is the first synthetic graphite supply agreement between a US graphite developer and US EV company.

Under the agreement, Graphite One will provide Lucid with 5,000 tonnes of battery-ready anode material per year. The initial term is for five years. Sales are based on an agreed price formula linked to future market pricing.

"Subject to project financing required to build the AAM facility, the supply agreement with Lucid puts Graphite One on the path to produce revenue in 2027," Huston said.

"... And that's just the beginning for Graphite One as work to meet market demands and create a secure 100% US-based supply chain for natural and synthetic graphite."

Manufacturing site