EXIM Upsizes Financing Support for Graphite One (TSX.V:GPH) to US$2.07bn

Highlights

• EXIM has upsized the Alaska project Letter of Interest (LoI) from US$570mn to US$670mn.
• Ohio manufacturing facility LoI has been increased to US$1.4bn with a 15-year tenor.
• Combined EXIM LoIs now total US$2.07bn.
• The increase in the Ohio facility LoI is intended to support a phased expansion of production capacity.

Graphite One Inc. (TSX.V:GPH) (OTCQX:GPHOF) has announced the receipt of amended, non-binding Letters of Interest (LoIs) from the Export-Import Bank of the United States (EXIM) for potential debt financing linked to its U.S.-based graphite supply chain projects. The updated LoIs increase the potential scale of financing support for both the company’s upstream and downstream development plans.

The Alaska and Ohio LoIs together bring EXIM’s combined indicative support for Graphite One’s domestic supply chain plans to approximately US$2.07 billion.

According to the announcement, the previously issued EXIM LoI for the Graphite Creek Project, located north of Nome, Alaska, has been increased from US$570 million to US$670 million. In parallel, the LoI related to Graphite One’s proposed advanced graphite materials manufacturing facility in northeastern Ohio has been significantly expanded, rising from US$325 million to US$1.4 billion. The Ohio facility LoI includes a repayment tenor of up to 15 years and is structured under EXIM’s Make More in America Initiative.

Expanded Scope of the Ohio Facility

The increase in the Ohio facility LoI is intended to support a phased expansion of production capacity. Under the outlined framework, capacity would increase in increments of 25,000 metric tons per year, targeting an eventual annual production rate of up to 100,000 metric tons per year of anode active material.

The company stated that the revised LoIs followed meetings at EXIM’s headquarters in Washington, D.C., involving EXIM Chairman Jovanovic and Graphite One Chief Executive Officer Anthony Huston. The LoIs are issued under EXIM’s Make More in America and the China and Transformational Exports Program (CTEP) initiatives.

Management Commentary and Policy Context

“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,” said EXIM Chairman Jovanovic.

Graphite One CEO Anthony Huston added, “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% U.S.-based advanced graphite materials supply chain.”

Graphite One noted that the EXIM meeting took place on the final day of Mr. Huston’s broader schedule of meetings in Washington, which included discussions at the White House and with multiple federal departments involved in shaping U.S. critical minerals policy.

Next Steps and Regulatory Considerations

The company expects to submit formal financing applications to EXIM under both LoIs in 2026. Any final commitment would be subject to EXIM completing its due diligence process and meeting eligibility, credit, legal, and program requirements. The LoIs remain non-binding, and no assurance has been provided that final financing commitments will be issued.

Given China’s position in global graphite supply, the company indicated that the proposed transaction may qualify for special consideration under Section 402 of EXIM’s 2019 reauthorization. This provision directs EXIM to address the competitive impact of export support from China and other covered countries, including through the CTEP framework.

Domestic Supply Chain Strategy

The United States is currently fully dependent on imports for natural graphite. Graphite One’s strategy is centered on developing a domestic supply chain anchored by the Graphite Creek deposit, which the U.S. Geological Survey has identified as the largest graphite deposit in the country and among the largest globally. The company’s plan involves transporting material via the Port of Nome to a proposed processing and manufacturing site in Warren, Ohio, subject to financing. A potential recycling facility, intended to reclaim graphite and other battery materials, is also under consideration as part of a broader circular economy approach.

Shares of GPH last traded at CAD 2.07 on January 09, 2026.

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