Nouveau Monde Graphite (NMG) is pushing forward with its Phase-2 Matawinie Mine and Bécancour Battery Material Plant towards a final investment decision (FID), capitalizing on the rising electric vehicle (EV) adoption and energy storage demand in North America.

Progress includes detailed engineering, contract negotiations, and environmental infrastructure work at the Matawinie Mine, alongside engineering efforts with Asian companies for the Bécancour Battery Material Plant.

NMG is actively seeking bankable offtake agreements and investments, having received over $1bn in debt financing interest for Phase-2 projects from various institutions and agencies, aiming to capture the market growth fueled by the demand for EVs and energy storage solutions.

Founder and CEO Eric Desaulniers highlighted the company’s commitment to developing a resilient North American graphite value chain despite global uncertainties, emphasizing the importance of refining execution plans to leverage positive political and commercial interests while reducing vulnerabilities.

Read more at Yahoo Finance: Phase-2 Matawinie Mine edges closer to FID