Graphite One maps a path to production for its Ohio battery plant — first sales eyed for late 2028
Photo: Korea JoongAng Daily (file photo)Graphite One laid out the next steps Monday for its planned battery-anode plant in Conneaut, Ohio — an $80 million first phase that would turn purchased synthetic graphite into material for electric-vehicle and energy-storage batteries, with a final investment decision targeted by April 2027 and first sales in the fourth quarter of 2028.
The Vancouver-based company said the plant's first phase is designed as a blending and coating facility, with planned capacity of 10,000 tonnes per year of synthetic graphite active anode material. The $80 million cost estimate will be updated after final engineering, the company said.
The announcement follows the project's key environmental milestone: the Ohio Environmental Protection Agency issued the plant's air permit on Oct. 27, valid through Oct. 27, 2036. The company calls the permit the main environmental hurdle for the Conneaut site, though other state and local approvals are still required before construction can begin.
"Our objective is to lead in building America's synthetic and natural graphite supply chain, starting with manufacturing in Ohio," said Anthony Huston, Graphite One's president and CEO. "Ohio lets us pursue customer sales, generating company revenue, before mine production begins."
That last point is central to the company's plan. The Ohio plant would process purchased synthetic graphite rather than ore from Graphite One's Graphite Creek deposit in Alaska, so it could start selling before the mine is producing. A U.S. Geological Survey study found Graphite Creek to be the largest known flake graphite resource in the United States, and the company completed a feasibility study for the mine in April 2025.
The company said its prospective buyers are U.S. battery and energy-storage customers. It has provided samples for testing and qualification and has signed non-binding supply agreements with Lucid Motors.
Financing for a larger build-out is also on the table. In December 2025, the Export-Import Bank of the United States issued an amended, non-binding letter of interest for up to $1.4 billion to support phased expansion of the Ohio facility, in increments of 25,000 tonnes up to 100,000 tonnes a year. The letter is subject to application, due diligence and credit approval. Together with a $670 million letter of interest for the Graphite Creek project, the bank's letters of interest total $2.07 billion.
None of it is certain yet. The company cautioned that its timelines depend on completing engineering, securing the remaining permits and financing, building the plant and qualifying customers — and that there is no guarantee the plant will ultimately be built.
Sources: PR Newswire, “Graphite One Outlines Path to Production for Ohio Manufacturing Plant Following Air Permit” (Nov. 9, 2026, via Morningstar); Investing News Network, “Graphite One Outlines Path to Production for Ohio Manufacturing Plant Following Air Permit” (Nov. 9, 2026); Graphite One Inc., “Graphite One Secures Final Ohio Air Permit” (Nov. 2, 2026).
Sponsored