Westwater Resources Announces Off-Take Agreement for Sale of 100% of Fines Graphite Production from its Kellyton Plant
- Westwater contracts with Hiller Carbon, a leading supplier of materials to the steel and foundry industries, to supply 100% of its natural graphite Fines production.
- With this binding Off-Take Agreement and the previously announced CSPG off-take agreements with Stellantis and SK ON, Westwater has sold 100% of all materials produced from its Kellyton Phase 1 plant.
Westwater Resources Inc. (NYSE: American: WWR), an energy technology and battery-grade natural graphite company ("Westwater Resources" or "Westwater"), today announced the execution of a binding off-take agreement for the supply of its Fines material with Hiller Carbon, a leading supplier of pelletized materials to the steel and foundry industries.
Pursuant to the terms of the Off-Take Agreement, Westwater will supply natural graphite Fines material from its Kellyton Graphite Plant located near Kellyton, Alabama to Hiller Carbon's plants located within the US. Graphite Fines are produced during the CSPG spherodizing process, one of the processing steps related to producing Westwater's battery anode natural graphite, which remains the company's main focus.
Under the terms of the Off-Take Agreement, Hiller Carbon will purchase, on an annual basis, 100% of Westwater's Phase I Fines production which is expected to be approximately 14,000 mt/year. With the previously announced CSPG off-take agreements with Stellantis and SK On accounting for all of its anticipated battery anode material production, Westwater has now secured off-take agreements for the sale of 100% of both its CSPG and Fines Phase I production.
"Our graphite products specifically support current and future green carbon initiatives. We are excited to partner with Westwater Resources, a new and important natural graphite producer based in the U.S. Securing a local, reliable, and long-term source for this critical material is significant for our business and positions both our companies for long-term success," said Martin (Marty) Hiller, Executive Chairman of Hiller Carbon.
Jon Jacobs, Westwater's Chief Commercial Officer, added, "We are honored to work with the great team at Hiller Carbon. This deal represents our final commercial agreement for securing purchase commitments for all of our Phase I output and positions us to finalize the remainder of our construction financing."
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 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.
About Hiller Carbon
Hiller Carbon is a major supplier of carbon products to Electric Arc Furnace (EAF) steel, foundry, and specialty industrial users in domestic U.S. and international markets. Founded in 1975, the company's distribution network supplies critical products such as anthracite coal, petroleum coke, and graphite. For additional information, visit www.hillercarbon.com.
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 "anticipated," "will," "expected," "secure or securing," "long-term," and other similar words. Forward-looking statements in this release include, among other things, statements concerning Westwater's future sales of graphite products to Stellantis and SK On, including the amounts, timing, and types of products included within those sales, Westwater's expectations with respect to this Off-Take Agreement with Hiller Carbon, and Westwater's process of securing the remainder of construction financing for Kellyton Phase I. Westwater cautions that there are certain 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 Westwater; accordingly, there can be no assurance that such suggested results will be realized. Additional risks facing Westwater's future prospects are discussed in the Westwater Resources, Inc. Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent securities filings.
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