Graphite One’s Strategy Supported By Department of Defense
needed for lithium-ion batteries and other products. Graphite One’s strategy is being supported by the Department of Defense, which awarded the company a $37.5 million grant last year to complete a feasibility study for its envisioned supply chain plans by the end of this year. “As we near completion of the FS, we can now say that DoD’s support has cut about two years off of our initial feasibility study timeline,” said Huston. Graphite One’s plans to develop a mine at Graphite Creek got another boost with the recent announcement that domestic mining projects that would produce graphite, lithium, cobalt, nickel, and other minerals and metals critical to the energy transition are eligible for U.S. Department of Energy loan guarantees. Under the Title 17 Clean Energy Financing Program, DOE’s Loan Programs Office can finance clean energy projects in the U.S. While this includes clean energy infrastructure, it did not specify mining projects. It has now been clarified that “projects that increase the domestically produced supply of critical minerals” needed for the clean energy transition are eligible for the $72 billion of loan guarantees available under Title 17.
Photo Courtesy Graphite One
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