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Panasonic Energy Progresses Development of Graphite Material for EV Batteries

November 25, 2023

Panasonic Energy and Canada’s Nouveau Monde Graphite Inc. (NMG), an anode active material manufacturer, have reported technological and commercial progress in the development of graphite material to enhance the supply chain for EV batteries in North America.

To meet the growing global demand for EVs, Panasonic Energy has been working to expand the production of EV batteries in North America, increase the percentage of materials procured in North America, and establish a sustainable supply chain. They announced a Memorandum of Understanding with NMG regarding an offtake agreement in October 2022 to cooperate toward material procurement.

Panasonic Energy and NMG will collaborate toward mass production of an anode active material in line with the battery performance sought by Panasonic Energy, including high capacity, high reliability, and quick charging.

This supports ongoing commercial discussions for a definitive offtake agreement targeting NMG’s integrated “mine-to-battery-materials” business in North America, whereby graphite mined at NMG’s Matawinie Mine, in Quebec, is processed into anode active material at its battery materials plant in Bécancour, Quebec. In Canada, where the use of clean energy is widespread, a high percentage of electricity is derived from renewable energy sources. In Quebec, renewable energy sources account for 99% of electricity supply.

The use of NMG’s carbon-neutral graphite material will hopefully enhance the supply chain for battery production in North America and will help attain Panasonic Energy’s target to halve its carbon footprint by the fiscal year ending March 2031.

Kazuo Tadanobu, President and CEO of Panasonic Energy, stated, “The Japanese and Canadian governments signed a Memorandum of Cooperation (MOC) to deepen their bilateral partnership. I welcome the leadership demonstrated by the two governments to establish a sustainable and reliable battery supply chain. Panasonic Energy will help strengthen bilateral cooperation in the private sector, including through the partnership with NMG, to contribute to the industrial development of the two countries.” Eric Desaulniers, Founder, President and CEO of NMG, added: “Our collaboration with Panasonic Energy is a key condition for success to refine performance and efficiency of our production, define long-term sales mechanisms to capture market growth, tap into trade partnerships, and optimize our financial structure for project financing. Intergovernmental cooperation paired with industrial collaboration as we see today form the bedrock of tomorrow’s clean energy economy; NMG is part of this generational transition toward a low-carbon future.”