Westwater Resources Secures Key Off-Take Agreement for Graphite
Westwater Resources Announces Strategic Off-Take Agreement
Westwater Resources, Inc. (NYSE: American: WWR), an innovative company in the energy technology sector specializing in battery-grade natural graphite, has made a significant move by executing a binding off-take agreement. This agreement outlines the supply of natural graphite Fines material to Hiller Carbon, a key player in providing pelletized materials to various industries.
Details of the Off-Take Agreement
Under this newly established agreement, Westwater will deliver natural graphite from its Kellyton Graphite Plant to Hiller Carbon’s processing plants across the United States. The process utilizes CSPG spherodizing, a step crucial for producing Westwater's main product: battery anode natural graphite.
Production Expectations and Commitments
Westwater's Phase I Fines production is forecasted to reach about 14,000 metric tons annually. With this off-take agreement, 100% of the production will be acquired by Hiller Carbon. This milestone comes along with previously secured agreements concerning battery anode materials from Stellantis and SK On, ensuring that all expected outputs from Westwater’s operations are accounted for.
Partnership Perspectives
Martin (Marty) Hiller, Executive Chairman of Hiller Carbon, expressed enthusiasm about the agreement, highlighting its alignment with green carbon initiatives. He noted, “Securing a local, reliable, and long-term source for this critical material is significant for our business and positions both our companies for long-term success.”
Commitment to Future Expansion
Jon Jacobs, Westwater’s Chief Commercial Officer, emphasized the importance of this arrangement, calling it a cornerstone in the company’s commercial strategy. "This deal represents our final commercial agreement for securing purchase commitments for our Phase I output," he stated. This strategic step not only secures customer commitments but also positions Westwater to finalize necessary construction financing to complete the Kellyton facility.
About Westwater Resources
Westwater Resources is dedicated to developing energy technology focused on battery-grade natural graphite. Their primary facility, the Kellyton Graphite Processing Plant, is currently under construction in Alabama. The Coosa Graphite Deposit stands as the most advanced natural flake graphite asset within the contiguous United States, stretching over approximately 41,965 acres in Coosa County.
About Hiller Carbon
Hiller Carbon has established itself as a major supplier of carbon products to Electric Arc Furnace (EAF) steel producers, foundry operations, and specialty industrial customers. The company's extensive network, initiated in 1975, provides vital products, including anthracite coal and petroleum coke.
Frequently Asked Questions
What is the significance of the off-take agreement for Westwater Resources?
The off-take agreement is significant as it guarantees the sale of 100% of Westwater's Fines graphite production, ensuring stable revenue and supporting long-term growth.
Who is Hiller Carbon?
Hiller Carbon is a prominent supplier of carbon-based products, particularly for steel production and foundries, with a focus on long-term reliability and local sourcing of materials.
How does the agreement align with green initiatives?
Both companies are committed to supporting environmentally friendly practices through responsible sourcing and production of green carbon materials for various applications.
What are the production expectations from the Kellyton plant?
The Kellyton plant is expected to produce approximately 14,000 metric tons of graphite Fines annually as part of the off-take agreement.
What future developments can we expect from Westwater Resources?
With this agreement, Westwater is well-positioned to finalize its construction financing and accelerate its growth in the battery-grade graphite market, aligning with anticipated demand for electric vehicle and energy storage applications.
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