07:29 AM EDT, 03/28/2024 (MT Newswires) -- Through its year-end financial reports and 2023 Annual Report, Nouveau Monde Graphite Inc. ( NMG ) on Thursday published a "positive progress report in advancing" what is projected to be North America's first integrated source of natural graphite active anode material for electric vehicles and batteries.

In "strategically executing its phased development plan", NMG said it has continued operating its Phase-1 facilities to produce battery-grade samples and optimize its processes, has signed commercial agreements and strategic investments with Panasonic Energy Co., Ltd., a wholly owned subsidiary of Panasonic Holdings Corporation and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co., to underpin its Phase-2 commercial production, and has acquired the Uatnan Mining Project to support its Phase-3 expansion.

Arne H Frandsen, Chair of NMG, in a statement said: "After months and years of relentless commercial engagement and product qualification efforts, we reached a transformational milestone: multiyear offtake agreements with global leaders Panasonic Energy and GM, accompanied by equity participation and further committed investments. Our trajectory towards becoming North America's leading, fully-integrated natural graphite producer is not just timely; it complements the collective goals of greater energy autonomy, national security, and sustainability."

Eric Desaulniers, Founder, President and CEO of NMG, added: "Record-breaking global spending on the clean energy transition -- US$1.8 trillion investment -- speaks volumes about the imperative necessity Western economies face in securing the minerals and advanced materials required to power new technologies. Our team is now updating our production parameters in light of Panasonic Energy and GM's specifications, and mapping our transition to commercial operations."