SAINT-MICHEL-DES-SAINTS, Québec, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Nouveau Monde Graphite Inc. (“Nouveau Monde” or “NMG”) (TSXV: NOU; OTCQX: NMGRF; Frankfurt: NM9) announces the successful completion of test work and inspections of the micronization and spheronization equipment ordered for its secondary graphite transformation demonstration plant.
Equipment and Demonstration Plant
The equipment has been shipped following this validation phase, which was conducted in Asia by Nouveau Monde’s technical team. The Company expects to receive the equipment on Canadian soil at the end of Q4 2019. The equipment will be installed at the Company’s currently operating demonstration plant in Saint-Michel-des-Saints, to test the process developed by NMG for the production of value-added products (VAP) as of Q1 2020. Seneca has been awarded the engineering-procurement-construction contract for the micronization and spheronization demonstration plant.
Nouveau Monde is also developing a thermochemical purification process to complete its market offering, adding products with a purity above 99.95%. To this end, NMG has reserved an option to purchase 2 million square feet of land in the Bécancour Industrial Park in Quebec, an area with excellent development potential for the electric battery sector (KPMG, April 2019) due to the low cost of energy, availability of labour, access to logistical infrastructure and proximity to the U.S. market.
Nouveau Monde plans to build the secondary transformation plant for the production of anode material for lithium-ion batteries at an initial capacity of 35,000 tonnes per year for the first phase, and then up to 100,000 tonnes per year, with potential supply agreements with other graphite suppliers.
Strengthening of its Technical Team
To support the implementation of this production segment, Nouveau Monde is proud to announce it has hired René Boisvert as VAP Project Manager. Mr. Boisvert is an electrical engineering graduate of Université Laval with 30 years of experience in silicon production as well as the design and construction of production units. Starting as a project engineer and site superintendent, he has moved into increasingly higher management positions over the years as Director of Technology, Vice President of Operations, and President and CEO. Mr. Boisvert has obtained several patents in the field of electrode design and silicon purification, and has presented at major conferences on electric arc furnaces and silicon.
Eric Desaulniers, President and CEO of Nouveau Monde, commented: “Our business plan is progressing well, as demonstrated by the hiring of Mr. Boisvert, a highly experienced manager, and the integrated mandate awarded to Seneca. Much more than a mining company, Nouveau Monde is positioning itself as a player in the graphite supply chain with the planned secondary transformation facility playing a significant role in our production of graphite concentrate to supply the fast-growing market for lithium-ion batteries.”
About Nouveau Monde Graphite
In 2015, Nouveau Monde Graphite discovered a major and high-quality graphite deposit on its Matawinie property, located in Saint-Michel-des-Saints, 150 km north of Montréal. This discovery led to the completion of a Feasibility Study, which revealed strong economics with projected graphite concentrate production of 100,000 tonnes per year over a 26-year period. Nouveau Monde will operate its demonstration plant until 2020. During this period, the Corporation expects to produce 2,000 tonnes of concentrated flake graphite to qualify its products with North American and international clients.
Moreover, in a perspective of vertical integration and sustainable development, Nouveau Monde is planning to establish a large-scale graphite secondary transformation facility, catering to the needs of the booming lithium-ion battery and expandable graphite markets.
With over 60 years of experience in the world of graphite, Nouveau Monde’s team is developing its project with the utmost respect for neighbouring communities, while favouring a minimal ecological footprint. Nouveau Monde’s project has direct access to the workforce and the infrastructure needed to operate its mining project, and it can also rely on an abundant, affordable source of hydroelectricity, a renewable resource.
Director, Investor Relations
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All statements, other than statements of historical fact, contained in this press release including, but not limited to generally, or the “About Nouveau Monde Graphite” paragraph which essentially describe the Corporation’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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Further information regarding Corporation is available in the SEDAR database (www.sedar.com) and on the Corporation’s website at: www.NouveauMonde.ca