Nouveau Monde raises funds for graphite project in Quebec
NMG’s Feasibility Study revealed projected graphite concentrate production of 100,000 tonnes per year, with an average concentrate purity of 97%, over a 26-year period. Currently, Nouveau Monde operates a demonstration plant where it produces concentrated flake graphite, which is being sent to potential North American and international clients for the qualification of its products.
Nouveau Monde is currently targeting commercial production in 2022
“The covid headwinds have not halted the exponential growth in lithium-ion battery demand and we are in an ideal position to cater to the markets with our low carbon-footprint graphite materials.” said Nouveau Monde CEO Eric Desaulniers.
“Through this investment, we have reinforced our commitment to Nouveau Monde and more broadly to Québec, as a world-class destination for battery materials. Pallinghurst looks forward to being a catalyst for the development of Nouveau Monde, as a cornerstone for Québec’s broader battery hub strategy.” said Arne H. Frandsen, co-founder of Pallinghurst.
Pallinghurst currently owns 52,350,000 common shares of NMG, representing 19.99% of the issued and outstanding common shares.
Nouveau Monde is currently targeting commercial production in 2022.
