Parties
Company
Nouveau Monde Graphite (NMG)
Company
Panasonic Energy
Company
General Motors
Montreal-based Nouveau Monde Graphite (NMG) announced two major binding offtake deals with Panasonic Energy and General Motors.
Through these agreements, NMG will provide each customer with 18,000 tonnes of active anode material per year from its proposed battery material processing facilities in Bécancour, Quebec.
The supply deals with GM and Panasonic have initial terms of six and seven years, respectively. Together, the two businesses have also decided to invest an initial US$50 million in NMG, with an additional US$275 million to follow.
Combined, these agreements mark the beginning of NMG’s full-scale “Phase 2” construction of its Bécancour plant and Matawinie graphite mine.
The production is expected to begin in mid-2027.
Deal Type
Financing/InvestmentIndustry
EnergyTransaction
$ 438,777,625Deal Status
ActiveClosing Date