Nouveau Monde Graphite Inc. provided an update on the buildout of the Phase 1 operation at its move-in ready space located in Bécancour, Québec. The company is targeting mid-2021 for the commencement of production of the first tonnes of high-purity spherical graphite destined for the high-growth EV and renewable energy sectors. Once fully ramped up, the nameplate capacity of Phase 1 will be 1,500 tonnes per annum of purified material produced using the first two commercial-scale modules. The company intends to use this initial production to advance its qualification process with major battery makers with the objective to secure long-term supply agreements. In the dated October 27,2020, Nouveau Monde announced that it had signed an option to purchase a 200,000-m² parcel of land adjacent to Olin’s property in the Bécancour industrial park. The company announced that it has completed the purchase of this property. As the future site of the Company’s commercial-scale transformation plant, it will produce a wide range of value-added graphite-based materials. The property presents no environmental limitations for construction and offers all necessary infrastructure to have a safe and direct chemical supply from the adjacent Olin’s property as well as rail, port, and road access for both importing raw materials and exporting final products throughout North America and Europe. The Company is currently finalizing an internal FEL-1 scoping study on its Phase 2 commercial anode material project in Bécancour; the Company will update the market once the study is completed. Nouveau Monde is planning, with its modular approach, the production of 40,000 tonnes per annum of anode material for the initial phase, with the option to expand as the anticipated demand increases in the battery and speciality markets.