Westwater Resources, Inc. (NYSE:AMERICAN), an energy technology and battery-grade natural graphite company ("Westwater" or the "Company"), is pleased to announce an increase in customer interest relating to off-take supply agreements for its natural graphite battery anode materials.
The global landscape for the U.S. supply of critical materials like natural graphite continues to evolve. One of the key benefits of moving to a domestic supply source for battery grade natural graphite – security of supply – appears to be resonating with U.S. cell makers and electric vehicle OEMs. Westwater is responding to outreaches from these companies as they weigh the impact of potential changes to the Inflation Reduction Act versus new announcements declaring the importance of U.S.-based critical material supply chains.
Jon Jacobs, Westwater's Chief Commercial Officer, commented, "The growing risk of increased tariffs on Chinese imports and the potential addition of new tariffs on imports from other countries is accelerating our off-take discussions with new customers. Although the Company still has roughly 50 percent of our expanded Phase II capacity at the Kellyton Plant available, we anticipate that remaining capacity will be sold by the end of this year through one or more off-take agreements that are under review now at several companies."
About Westwater Resources, Inc.
Westwater Resources is an energy technology company that is focused on developing battery-grade natural graphite. Westwater Resources' primary project is the Kellyton Graphite Processing Plant that is under construction in east-central Alabama. In addition, Westwater Resource's Coosa Graphite Deposit is the largest and most advanced natural flake graphite deposit in the contiguous United States — and is located across 41,965 acres (~17,000 hectares) in Coosa County, Alabama. For more information, visit westwaterresources.net.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "anticipate," "appears," "continues to evolve," "growing risk," "impact of potential changes," "increase," "potential," and other similar words or phrases. Forward looking statements include, among other things, statements concerning: customer agreements; future sales to existing or new customers, including the types of products included within those sales and the timing of those sales; the anticipated production volume of either phase of Kellyton Graphite Plant; and the continued characterization of battery-grade natural graphite as a critical material. The Company cautions that there are factors that could cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of the Company; accordingly, there can be no assurance that such suggested results will be realized. Those uncertainties and other factors are discussed in Westwater's Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent securities filings, and they could cause actual results to differ materially from management expectations.
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Westwater Resources, Inc.
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