Westwater Resources Announces Off-Take Agreement for Sale of 100% of Fines Graphite Production from its Kellyton Plant
17 Septembre 2024 - 12:30PM
Business Wire
- Westwater contracts with Hiller Carbon, a leading supplier of
materials to the steel and foundry industries, to supply 100% of
its natural graphite Fines production.
- With this binding Off-Take Agreement and the previously
announced CSPG off-take agreements with Stellantis and SK ON,
Westwater has sold 100% of all materials produced from its Kellyton
Phase 1 plant.
Westwater Resources, Inc. (NYSE: American: WWR), an
energy technology and battery-grade natural graphite company
(“Westwater Resources” or “Westwater”), today announced the
execution of a binding off-take agreement for the supply of its
Fines material with Hiller Carbon, a leading supplier of pelletized
materials to the steel and foundry industries.
Pursuant to the terms of the Off-Take Agreement, Westwater will
supply natural graphite Fines material from its Kellyton Graphite
Plant located near Kellyton, Alabama to Hiller Carbon’s plants
located within the US. Graphite Fines are produced during the CSPG
spherodizing process, one of the processing steps related to
producing Westwater’s battery anode natural graphite, which remains
the company’s main focus.
Under the terms of the Off-Take Agreement, Hiller Carbon will
purchase, on an annual basis, 100% of Westwater’s Phase I Fines
production which is expected to be approximately 14,000 mt/year.
With the previously announced CSPG off-take agreements with
Stellantis and SK On accounting for all of its anticipated battery
anode material production, Westwater has now secured off-take
agreements for the sale of 100% of both its CSPG and Fines Phase I
production.
“Our graphite products specifically support current and future
green carbon initiatives. We are excited to partner with Westwater
Resources, a new and important natural graphite producer based in
the U.S. 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,” said Martin (Marty)
Hiller, Executive Chairman of Hiller Carbon.
Jon Jacobs, Westwater’s Chief Commercial Officer, added, “We are
honored to work with the great team at Hiller Carbon. This deal
represents our final commercial agreement for securing purchase
commitments for all of our Phase I output and positions us to
finalize the remainder of our construction financing.”
About Westwater Resources, Inc.
Westwater Resources is an energy technology company that is
focused on developing battery-grade natural graphite. Westwater
Resources’ primary project is the Kellyton Graphite Processing
Plant that is under construction in east-central Alabama. In
addition, Westwater Resource’s Coosa Graphite Deposit is the most
advanced natural flake graphite deposit in the contiguous United
States — and is located across 41,965 acres (~17,000 hectares) in
Coosa County, Alabama. For more information, visit
westwaterresources.net.
About Hiller Carbon
Hiller Carbon is a major supplier of carbon products to Electric
Arc Furnace (EAF) steel, foundry, and specialty industrial users in
domestic U.S. and international markets. Founded in 1975, the
company’s distribution network supplies critical products such as
anthracite coal, petroleum coke, and graphite. For additional
information, visit www.hillercarbon.com.
Cautionary Statement Regarding Forward-Looking
Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as “anticipated,”
“will,” “expected,” “secure or securing,” “long-term,” and other
similar words. Forward-looking statements in this release include,
among other things, statements concerning Westwater’s future sales
of graphite products to Stellantis and SK On, including the
amounts, timing, and types of products included within those sales,
Westwater’s expectations with respect to this Off-Take Agreement
with Hiller Carbon, and Westwater’s process of securing the
remainder of construction financing for Kellyton Phase I. Westwater
cautions that there are certain factors that could cause actual
results to differ materially from the forward-looking information
that has been provided. The reader is cautioned not to put undue
reliance on this forward-looking information, which is not a
guarantee of future performance and is subject to a number of
uncertainties and other factors, many of which are outside the
control of Westwater; accordingly, there can be no assurance that
such suggested results will be realized. Additional risks facing
Westwater‘s future prospects are discussed in the Westwater
Resources, Inc. Annual Report on Form 10-K for the year ended
December 31, 2023, and subsequent securities filings.
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version on businesswire.com: https://www.businesswire.com/news/home/20240917898152/en/
Westwater Resources, Inc. Email:
Info@WestwaterResources.net
Investor Relations Email:
Investorrelations@westwaterresources.net
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