10:59 AM EST, 11/03/2025 (MT Newswires) -- Focus Graphite ( FCSMF ) which earlier touched a multi-year high of $0.76, said Monday it has received conditional approval for a $14 million funding by Natural Resources Canada (NRCan), pending final due diligence.

The non-repayable funding will help establish Canada's first commercial, scalable electrothermal fluidized bed purification demonstration facility, to produce ultra-high purity graphite with zero liquid waste, and lower emissions, to supply advanced battery, defence, aerospace, and clean technology markets.

This initiative also establishes the foundation for large-scale production of Quebec-sourced graphite from Lac Knife and Tetepisca, a statement said.

The project will involve engineering led by Ukraine's Thermal & Material Engineering Center, using Canadian graphite feedstock and the electrothermal purification expertise of U.S.-based American Energy Technologies Company. Final assembly will be in Canada. It will also strengthen several partnerships, including Focus' upcoming work with the University of Texas at Dallas's Beacons Battery Prototyping Facility.

Last month, Focus entered into a MOU with Thermal & Material Engineering Center, to engineer, and install a demonstration-scale electrothermal fluidized bed furnace capable of purifying natural graphite at industrial temperatures exceeding 2,500 degrees Celsius.

Focus Graphite ( FCSMF ) is up $0.13, to $0.71, on the TSX Venture Exchange

Price: 0.72, Change: +0.14, Percent Change: +24.14