12:21 PM EST, 01/16/2025 (MT Newswires) -- Graphite One ( GPHOF ) shares were last seen up 8.6% after the company on Thursday said the U.S. Department of Defense's Defense Logistics Agency (DLA) released a video on the company's and partner Vorbeck Materials' alternative to the firefighting foam used by the U.S. Military Services and civilian firefighting agencies, using graphite sourced from G1's Graphite Creek deposit.

The project, funded by a DLA grant of US$4.7 million, is currently underway.

"Vorbeck's role is to develop new chemistries and new formulations to come up with a fluorine-free, PFAS free, environmentally-friendly, highly effective firefighting foam," said Vorbeck Materials chief executive John Lettow.

"Currently, the firefighting foams contain PFAS, which is carcinogenic, so we are looking for alternatives that perform similarly to the older products," said Senior Vice President of Operations for Graphite One ( GPHOF ), Mike Schaffner. "The graphite derivatives are showing great promise in this area."

Graphite One ( GPHOF ) shares were last seen up $0.06 to $0.76 on the TSX Venture Exchange.

Price: 0.76, Change: +0.06, Percent Change: +8.57