Northern Graphite signed an agreement with Edgewater Capital Partners to acquire an interest in NeoGraf Solutions.

On February 13th, Northern Graphite signed an agreement with Edgewater Capital Partners for the option to acquire a 50.1% voting interest and 33.3% equity interest in NeoGraf Solutions (Neograf). Northern Graphite has a long-standing relationship with NeoGraf, which manufactures various graphite products for use in powders, additives, fire retardants, fuel cell membranes and thermal management solutions at its facility in Lakewood, Ohio, USA. The agreement also provides the option for Northern Graphite to increase its interest to 100% at a later stage

Northern Graphite has increased its portfolio of projects in the past year. In April 2022, Northern Graphite completed the 100% acquisition of the Okanjande mine and Okorusu processing plant in Namibia from Imerys Graphite and Carbon and its JV partner Gecko, along with the Lac-des-Iles (LDI) mine in Québec from Imerys Graphite and Carbon. The Canadian graphite miner is also developing the Bissett Creek project in Ontario, Canada with a planned 20ktpy capacity of graphite concentrate, and plans to add a new processing plant in Namibia increasing production capacity by 100-150ktpy graphite concentrate.

The agreement between Northern Graphite and Neograf has the potential to create an integrated mine-to-market supply chain in the USA, with Northern Graphite’s operations able to support growth in demand, including that from battery-grade natural graphite material used in lithium-ion battery anodes for EVs and energy storage systems.