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Northern Graphite comments on the new U.S. graphite procurement regulations announced by the Biden Administration. The regulations require OEMs to show progress towards a North American supply chain by January 2027. The Administration's decision allows a two-year transition period for sourcing Battery Anode Material (BAM) from China while establishing local production. Northern Graphite is working with OEMs to secure supply agreements for graphite anode material, aiming to support the EV revolution in North America.
Northern Graphite provides an update on the development of Porocarb®, a patented high-performance macro-porous hard carbon material for electric vehicles. Since launching its Battery Materials Group, the company has signed agreements with global battery manufacturers and is in advanced discussions for potential partnerships. Porocarb® has the potential to provide a new revenue stream for the company, separate from its battery anode material products.
Northern Graphite (TSXV: NGC) announced its 2023 year-end results, marking a transformative year. The company saw sales rebound, advanced growth catalysts, optimized working capital, and established itself as a sustainable, integrated graphite miner. Despite a net loss of $23.6 million in 2023, Northern is confident in its strategy and competitive position. With key operational highlights and financial insights, Northern is progressing towards becoming a vertically integrated supplier in the graphite market, focusing on battery anode material production for lithium-ion batteries and electric vehicles.