Westwater Resources Applauds Treasury Department Guidance on 45X Advanced Manufacturing Production Credit
29 Octobre 2024 - 11:45AM
Business Wire
- Updated guidance allows for inclusion of raw material costs in
the 10% production tax credit.
- Applies to both critical minerals and electrode active
materials including anodes.
Westwater Resources, Inc. (NYSE: American: WWR), an
energy technology and battery-grade natural graphite company
(“Westwater Resources” or “Westwater”), supports the updated
guidance issued by the U.S. Department of the Treasury allowing for
the inclusion of raw material costs within the 45X Advanced
Manufacturing Production Credit as defined under the Inflation
Reduction Act.
Pursuant to the updated guidance, manufacturers of applicable
battery materials including graphite are allowed to include both
direct and indirect raw material costs within the production tax
credit, inclusive of graphite flake cost.
Terence Cryan, Executive Chairman of Westwater, commented, “We
applaud and support this updated guidance from the Department of
the Treasury. This decision positively affects Westwater’s debt
financing economics as it enables the inclusion of our feedstock
costs within our production tax credit calculation. This decision
strengthens our ability to compete globally and will only
accelerate demand for Westwater’s domestically produced natural
graphite.”
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
largest and 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.
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 “guidance,”
“positively effects,” “supports,” “applaud,” “accelerate,” and
other similar words. Forward-looking statements in this release
include, among other things, statements concerning: Westwater’s
future sales of domestically produced natural graphite, including
CSPG and Fines products, to customers, including the amounts,
timing, and types of products included within those sales; the
continued construction and planned annual production from Phase I
of Kellyton Graphite Plan; and future demand of domestic graphite
products. 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/20241029454599/en/
Westwater Resources, Inc. Email:
Info@WestwaterResources.net
Investor Relations Email:
Investorrelations@westwaterresources.net
Westwater Resources (AMEX:WWR)
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