Graphite One awarded $37.5M grant from DoD
awarded a Department of Defense (“DoD”) Technology Investment Agreement grant of $37.5 mil - lion under Title III of the Defense Production Act (“DPA”), funded through the Inflation Reduction Act (“IRA”) in July.
The funding objective of the DoD-Graphite One (Alaska) Tech - nology Investment Agreement is to perform an accelerated Feasibili - ty Study to modernize and expand domestic production capacity and supply for graphite battery anodes necessary for electronic vehicles and alternative energy batteries, as an essential national defense tech - nology item. The DoD grant to Graphite One follows the designation of graph - ite as one of the battery materials deemed under the DPA law to be “essential to the national defense.” At present, the U.S. is 100% im - port-dependent for graphite, with China being the world’s leading producer. The DPA funding allows G1 to accelerate its Feasibility Study cov - ering its Graphite Creek Project 35 miles north of Nome, Alaska. Graphite Creek was recently con - firmed by the U.S. Geological Survey to be the country’s largest known graphite resource, and “among the largest in the world.” “Graphite One is honored to re - ceive this award from the Depart - ment of Defense, funded by the IRA, and we look forward to advancing our Feasibility Study program,” said Anthony Huston, founder and CEO of G1. “This Department of Defense grant underscores our confidence in our strategy to build a 100 per - cent U.S.-based advanced graphite supply chain — from mining to re - fining to recycling. The World Bank Group reports that the production of minerals, including graphite, could increase by 500% by 2050, to meet the growing demand for clean ener - gy technologies.” “This investment to increase do - mestic capabilities for graphite ex - emplifies Industrial Base Policy’s commitment to building a resilient industrial base to meet current and future national defense require - ments,” said Dr. Laura Taylor-Kale, Department of Defense Assis - tant Secretary for Industrial Base
Graphite as a battery material 'essential for national defense' Graphite One (Alaska), Inc. was
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