Nouveau Monde provides update on progress toward FID for operations

Nouveau Monde (NMG) reported progress update on its multiple workstreams to bring its Phase-2 Matawinie Mine and Becancour Battery Material Plant to a Final Investment Decision, or FID. The company is actively advancing its integrated feasibility study, engaging with its Anchor Customers Panasonic Energy, a wholly owned subsidiary of Panasonic Holdings, and General Motors Holdings, a wholly owned subsidiary of General Motors (GM), ongoing project financing activities, and preparing for the construction of its Phase-2 operations. Arne Frandsen, Chair of NMG, declared: “Our roadmap is laid out with key components aligning toward the establishment of North America’s largest and fully integrated natural graphite production for the electric vehicle (“EV”) and lithium-ion battery market. The team is relentless in diligently advancing the technical, commercial and financial deliverables to support a positive FID.” Eric Desaulniers, founder, president, and CEO of NMG, stated: “Our focus on engineering, customer engagement, financing, and construction preparation is driving us closer to our goal of becoming a leading supplier of carbon-neutral active anode material. Our time-to-market window remains reasonable and the efforts we invest in refining our facilities and production parameters, CAPEX and OPEX projections, and execution strategy will bear fruit upon reaching FID. Our team, along with our Anchor Customers, strategic investors, lenders, and consultants, are rallied behind our objective of building a competitive, responsible, and quality ore-to-active-anode-materials operation to deliver value to the market and our shareholders.”