Eagle Graphite Awarded Grant for Development and Commercialization of Enhanced Graphite for Lithium-ion Batteries

Slocan, British Columbia – The Government of British Columbia, through the Advanced Research and Commercialization program for Clean Energy Vehicles (“ARC”), has selected Eagle Graphite (TSX VENTURE:EGA) (“Eagle Graphite”, “We”, or the “Company”) for a grant of $290,000. The grant is in support of the Company’s planned 2-year program to develop and commercialize silicon-modified battery anodes made with graphite from Eagle’s Black Crystal graphite quarry and plant in Passmore, British Columbia.
“Under our CleanBC plan, we are building a low-carbon economy that will reduce climate pollution and create good jobs across our province,” said Michelle Mungall, Minister of Energy, Mines and Petroleum Resources and MLA for Nelson-Creston. “To get there faster, we are supporting innovative companies like Eagle Graphite to develop made-in-B.C. technology that will put us on the path to a cleaner, better future.”
The official government announcement can be found at news.gov.bc.ca/releases/2019EMPR0021-001214
Information about the ARC program can be found at gov.bc.ca/gov/content/industry/electricity-alternative-energy/transportation-energies/clean-transportation-policies-programs/clean-energy-vehicle-program/cev-sector-development
Eagle Graphite will begin the project after finalizing formal agreements with the ARC committee and the project’s proposed academic and industry partners. We anticipate execution of the agreements by June 30, 2019, and will provide further details in a subsequent news release.