Product qualification activities and R&D initiatives pave the way for further developments
May 26, 2017, Toronto: Great Lakes Graphite Inc. (“GLK” or the “Company” TSX-V:GLK, OTC-PINK:GLKIF, FWB:8GL) is pleased to announce the Company has received two purchase orders from an overseas manufacturer of stationary battery systems. One of the purchase orders is for fifty (50) kilograms of high purity micronized flake graphite. The material is being purchased for pre-production test manufacturing of a system designed for use in industrial applications. The other purchase order is for five (5) kilograms each of five high purity micronized synthetic and natural flake graphite products.
- Repeat purchase orders from customer that is a manufacturer of stationary battery systems
- High purity micronized synthetic and natural flake graphite products are being evaluated
- Market acceptance validates pricing and supports business model
Senior Vice President of Sales, Michael Coscia said, “The purchase orders are from a customer who previously purchased a smaller quantity of material for initial qualification testing. Based on positive results from the first round of testing, this customer has now placed an order for a larger sample of the same material required to prepare for manufacturing these battery systems. We also received from the same customer an additional purchase order for five different high purity micronized synthetic and natural flake graphite products.”
Multiple Battery Qualifications In Progress with Prospective Customers
Great Lakes Graphite is currently engaged in product qualifications with customers who represent a range of battery chemistries. These include lead-acid batteries that are predominant in traditional markets, lithium-ion batteries that are used in a broad range of applications, and flow batteries for stationary energy storage applications. Each of the different chemistries represent distinct markets, each with significant near-term and long-term potential.
Great Lakes Graphite CEO Paul Gorman said, “We are pleased to be working with eight battery and energy storage customer prospects including recognized industry leaders that represent a variety of battery chemistries and applications. We are well on the way to qualifying our material for multiple markets, on parallel paths. Customer acceptance of our pricing to date confirms certain assumptions in our business model and is providing increasing confidence in regard to our market penetration and internal revenue forecasts. Finally, our partnership with Ashland Advanced Materials provides the right manufacturing base for us to jointly pursue what is becoming a significant market opportunity.”
About Great Lakes Graphite: Great Lakes Graphite is an industrial minerals processing company supplying customers with innovative, high quality value-added carbon products.
There is no significant graphite production in North America now. As pricing and demand continue to rise, Great Lakes Graphite is one of the first new domestic suppliers to a growing regional customer base. We continually work to deliver products of the best quality with outstanding customer service.
The Company is party to an agreement for long-term supply of high quality natural graphite concentrate from Brazil (see news release dated 03/23/15). Great Lakes Graphite is presently working with an established US-based processor for toll micronization services. The Company has partnered with Ashland Advanced Materials for commercial-scale purification operations at Ashland’s 110,000 square foot purification facility located in Niagara, New York.
Through our partner relationships, Great Lakes Graphite began selling micronized synthetic graphite beginning in 2016 and now supplies micronized and high purity micronized natural flake graphite products to a growing customer base.
Further information regarding Great Lakes can be found on the Company’s website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 125,656,830 shares outstanding.
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Caution Regarding Forward Looking Information: Certain statements in this press release may constitute “forward looking information” which involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this press release, such forward looking information may use such words as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. Forward looking information is provided for the purpose of presenting information about management’s current expectations relating to the future events and the operating performance of the Company, and readers are cautioned that such information may not be appropriate for other purposes. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the ability of the Company to fulfill the orders and future orders, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Great Lakes operates. The foregoing list of factors is not exhaustive. Please see the Company’s financial statements, MD&A and other documents available on www.sedar.com , for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.