AUS
NZ
UK
CA
USA
IND
_10_04_2024_16_38_50_427275.jpg)
Highlights
- Graphite One has secured a new Ohio site for its planned Active Anode Materials facility.
- The company remains on schedule under the FAST-41 permitting process for the Graphite Creek Project.
- EXIM Letters of Interest supporting the supply chain increased to a combined US$2.07 billion.
- Commercial-grade anode material samples have been delivered to major EV manufacturers and battery companies.
- Independent testing has identified elevated magnet and heavy rare earth element presence within Graphite Creek material.
Graphite One Inc. (TSXV:GPH) (OTCQX:GPHOF) has continued to advance key milestones across its Graphite Creek Project in Alaska while moving forward with downstream processing and battery materials plans in Ohio. Over the past year, the company has reported progress across permitting, financing, infrastructure planning, customer qualification and resource evaluation, supporting the company’s broader objective of building a fully integrated U.S.-based graphite supply chain.
The company's strategy comes at a time when the importance of domestic battery material production is receiving increased attention in the United States. Recently, a Pentagon-backed report highlighted the need to expand domestic battery manufacturing capacity in the United States. Prepared in collaboration with the interagency Federal Consortium for Advanced Batteries and cited by POLITICO, the report sets out recommendations aimed at reducing dependence on foreign supply chains in an industry largely dominated by Asian producers. For Graphite One, the report is broadly aligned with its strategic development objectives.
Building a Domestic Graphite Supply Chain
Graphite One's planned supply chain is anchored by its Graphite Creek deposit in Alaska and supported by downstream processing facilities in Ohio. Together, these assets are intended to create an integrated source of graphite and battery anode materials for the North American market.
New Ohio Site Secured
Last month (May 2026), Graphite One announced that it had secured a site in Conneaut, Ashtabula County, Ohio, through a license of occupation agreement with Bessemer and Lake Erie Railroad Company, a subsidiary of Canadian National Railway.
The site offers direct access to Lake Erie and the Great Lakes shipping corridor, rail connectivity through Canadian National Railway, existing power infrastructure including an on-site substation, and space for future expansion.
Production Roadmap Takes Shape
Graphite One is advancing plans for an Ohio finishing and blending facility that forms part of its Active Anode Materials (AAM) strategy. The company is targeting construction completion during the fourth quarter of 2027, with Phase One production capacity expected to reach 10,000 tonnes annually.
The proposed production mix includes:
- 4,000 tonnes of energy storage material
- 3,000 tonnes of fast-charging material
- 3,000 tonnes of high-energy-density material
These products are intended for lithium-ion battery applications supporting electric vehicles, grid-scale energy storage systems and data center infrastructure.
At the same time, Graphite One is evaluating a second expansion phase targeting construction completion in the third quarter of 2028. This phase would add graphitization capacity of 25,000 tonnes per year.
Permitting Progress at Graphite Creek
The company's flagship Graphite Creek Project continues to advance through the U.S. federal permitting process.
Located approximately 60 kilometres north of Nome, Alaska, the planned open-pit graphite mine and associated mineral processing plant became a FAST-41 covered project in June 2025. The designation made it the first Alaska mining project listed on the FAST-41 Federal Permitting Dashboard.
Financing Discussions Continue
Graphite One has also reported progress on financing initiatives for its broader supply chain strategy.
In February 2026, the company closed a CA$35 million (US$25 million) public offering of 20,002,000 units at a price of CA$1.75 per unit. Each unit consists of one common share and one common share purchase warrant entitling the holder to acquired one additional common share of the company at a price of CA$2.25 per share for a period of 36 months following the closing of the financing. The net proceeds from this financing is intended primarily to commence engineering, purchase of equipment and permitting for the planned Ohio facility.
In December 2025, the Export-Import Bank of the United States (EXIM) increased its non-binding Letters of Interest supporting the company's projects.
The Letter of Interest for the Graphite Creek Project increased from US$570 million to US$670 million, while support for the planned Ohio advanced graphite materials facility increased from US$325 million to US$1.4 billion.
Combined, the Letters of Interest total US$2.07 billion.
According to Graphite One, EXIM would finance up to 70% of total capital costs, while company management is engaged in discussions with major North American investment banks regarding financing the remaining 30% through equity offerings.
The Ohio facility support contemplates phased production increases in 25,000-tonne increments toward an annual production rate of 100,000 metric tonnes of anode active material.
Customer Testing and Offtake Discussions
Graphite One reported delivering commercial-grade anode material samples, including quantities of up to 20 kilograms, to three major electric vehicle manufacturers and three leading battery companies.
The recipients are currently conducting specification testing of the materials. In parallel, the company has entered discussions regarding potential binding offtake agreements with selected participants involved in the evaluation process.
These activities represent a key step in customer qualification as Graphite One works toward future commercial production.
Rare Earth Potential Emerges
Beyond graphite, Graphite One announced independent test results in December 2025 showing the presence of rare earth elements within Graphite Creek material.
Testing conducted by Activation Laboratory found that 85% of the rare earth elements identified in garnet material were magnet or heavy rare earth elements.
The analysis reported dysprosium concentrations ranging from 32 to 63 parts per million, yttrium from 198 to 427 parts per million, and scandium from 84 to 141 parts per million.
The company noted that drill core samples used in the testing originated from the anticipated pit area outlined in the February 2025 feasibility study, suggesting potential future evaluation of rare earth recovery opportunities alongside graphite extraction.
Graphite One's strategy centres on linking the Graphite Creek resource in Alaska with downstream processing facilities in Ohio. With permitting activities progressing, financing discussions continuing, customer qualification underway and infrastructure planning advancing, the company is moving forward on multiple fronts as it works toward establishing a U.S.-based graphite and battery materials supply chain anchored by the Graphite Creek Project.
Shares of Graphite One last traded at CAD 1.07 on June 15, 2026.
