Nouveau Monde Graphite (TSXV: NOU) has received approval for the listing of its common shares on the New York Stock Exchange. The company’s stock is expected to commence trading on the NYSE on May 24, 2021, under the symbol “NMG”.
Nouveau Monde is presently working towards developing a fully integrated source of green battery anode material in Québec, Canada. Targeting commercial operations by 2023, the company aims to provide advanced carbon-neutral graphite-based material solutions for the lithium-ion and fuel cell markets.
Its listing on the world’s largest capital market comes just as Nouveau Monde begins work on its Phase 1 beneficiation plant, which is expected to start producing battery grade shaped, purified and coated graphite early in 2022.
“We remain committed to becoming North America’s largest fully integrated anode material production facility, and ultimately delivering our critical materials with zero carbon footprint from our Québec-based facilities,” Nouveau Monde chairman Arne Frandsen said in a news release.
“As the western world’s economy is on the verge of a major industrial shift driven by the electrification of transportation and energy storage systems, the entire Nouveau Monde team is thrilled to play a meaningful role in the sustainable extraction and transformation of an essential battery material to help make this revolution possible,” CEO Eric Desaulniers added.
Meanwhile, in addition to the US listing, Nouveau Monde’s common shares will continue to trade on the TSX Venture Exchange in Canadian dollars under the symbol “NOU”.
On Thursday, shares of Nouveau Monde surged 9.4% by 1:30 p.m. in Toronto. Year-to-date, the stock has gained 53.5%, giving the company a market capitalization of nearly C$650 million.