Westwater Resources Inc (NYSE-A:WWR) announced it has secured a binding off-take agreement with Fiat Chrysler Automobiles to supply natural graphite anode material from its Kellyton Graphite Plant.
Under the terms of the off-take agreement, Westwater will supply natural graphite anode material to FCA’s battery partner plants within the US.
FCA, part of the Stellantis group of companies, has committed to purchasing an annual quantity of product based on a percentage of their forecasted volume.
“The contract with FCA is an important achievement for Westwater and a key step in the process of securing the remainder of construction financing for Kellyton Phase I construction,” said Frank Bakker, CEO of Westwater Resources.
“We are honored to partner with one of the world’s leading manufacturers of EVs and to assist FCA in securing a US-based supply chain for natural graphite anode material,” added Terence Cryan, Westwater’s executive chairman added.
Jon Jacobs, Westwater’s Chief Commercial Officer, highlighted the significance of the agreement, stating: “With this deal, Westwater has now secured off-take agreements for 100% of its Kellyton Phase 1 capacity.”
Centennial, Colorado-based Westwater is an energy technology company focused on developing battery-grade natural graphite, with its primary project being the Kellyton Graphite Processing Plant in Alabama. It also owns the Coosa graphite deposit, the most advanced natural flake graphite deposit in the contiguous US.