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Demand for battery anode material drives Nouveau Monde to Europe

Electric car. (Photo from Pxfuel).

Nouveau Monde Graphite (TSXV: NOU) announced that commercial discussions with European automakers interested in its battery anode material have intensified in recent months and, as such, it has decided to open a sales office in London, its first outside of North America. 

In a press release, the owner of the Matawinie graphite project in Quebec, Canada, said that its European hub will focus on evaluating potential site selection and engineering partners for an additional battery anode material plant, with the goal of providing the rapidly expanding European market with an integrated, local and sustainable source of supply. 

European automakers are pressed to secure the raw materials that go into their batteries

The plan is for the hub to also liaise with clients and European governments, universities and research centres and local stakeholders to solidify the company’s value proposition to the European lithium-ion battery supply chain.

“We have witnessed their [European automakers] realities change as they are pressed to secure the raw materials that go into their batteries,” Eric Desaulniers, Nouveau Monde’s president and CEO, said in the media brief.

“With the near-term surge in demand, driven by the EV and renewable energy revolution, these companies are in competition to source dependable, large-scale, sustainably and ethically produced anode materials. Nouveau Monde has a lot to offer to the European lithium-ion battery material supply chain by becoming one of the most significant and sustainable sources of graphite outside of China and Africa.”

Located some 150 kilometres north of Montreal, Nouveau’s Matawinie project is targeting full-scale commercial production by early 2023. Expected annual output from the mine is 100,000 tonnes of graphite concentrate, with the purity of the finished product/concentrate expected to be greater than 97% Cg.

This product is to be processed at the firm’s plant in Saint-Michel des Saints, which is to be supplied with 3.5 tonnes of raw ore per hour to produce graphite concentrate, purified spheronized graphite and micronized graphite.