Nouveau Monde Graphite to obtain US$50 million from Panasonic, General Motors.

Nouveau Monde Graphite secures funds for growth. Photo by Nouveau Monde Graphite

Funds secured for expansion Canada’s Nouveau Monde Graphite has unveiled it has closed its private placement and common share purchase warrants for aggregate gross proceeds of US$50 million from Panasonic and General Motors.


The Canadian miner is aiming “to use the proceeds of the Tranche 1 Investment to support the advancement of NMG’s Phase-2 operations – the Matawinie Mine and the Bécancour Battery Material Plant – in line with their respective battery specifications,” Nouveau Monde Graphite said in a statement.


Nouveau Monde Graphite says it is working towards establishing the company as a leading source of carbon-neutral battery anode material in Canada’s province of Québec, for the developing lithium-ion and fuel cell markets.