Graphite One Secures Final Ohio Air Permit, Targets 2028 Sales

Ohio regulators have granted Graphite One (TSXV:GPH,OTCQX:GPHOF) the final air permit for Phase 1 of its planned US$80 million battery anode plant in Conneaut, Ohio.

The Ohio Environmental Protection Agency (EPA) issued the permit on October 27 for the company’s scheduled 10,000 metric ton per year blending and coating plant. The permit runs to October 27, 2036, and is subject to renewal.

“Receiving the final Ohio Air Permit is an important step toward establishing a domestic synthetic anode material supply chain,” President and CEO Anthony Huston said in the announcement. “This approval advances Phase 1 Plant toward first revenue and supports our goal of becoming the first US company commercially producing synthetic graphite anode material.”

AAM is the primary material in the anodes of lithium-ion batteries used in electric vehicles and grid energy storage. China dominates global anode material processing and has imposed export controls on graphite and anode technologies.

Under the permit, construction must begin within 18 months of October 27, with one possible 12-month extension. The remaining approvals are standard state and local building, construction and operating permits. Graphite One plans to pursue them on an expedited basis once it completes final engineering.

“Our focus now turns to engineering, procurement and financing to bring Conneaut to construction,” COO Mike Schaffner said.

On financing, the Export-Import Bank of the US (EXIM) has issued Graphite One an amended, non-binding letter of interest for US$1.4 billion for the AAM facility. The letter would support a phased expansion in 25,000 metric ton increments up to 100,000 metric tons per year.

It is one of two EXIM letters the company has received, both amounting to a total of US$2.07 billion.

Graphite One has also sent samples to prospective US battery and energy storage system customers for testing and qualification.

The Ohio plant is the downstream end of a supply chain that Graphite One plans to start at its Graphite Creek deposit near Nome, Alaska. The company says the US Geological Survey (USGS) ranks Graphite Creek as the largest graphite deposit in the US.

Graphite One is targeting mine construction in 2028 and production in 2030. The federal FAST-41 timetable sets September 30, 2027, as the target date for a US Army Corps of Engineers permit decision on the project.