Will Shares Pop on Multi Million Dollar Defense Grant?
AllpennyStocks.com

Will Shares Pop on Multi Million Dollar Defense Grant?

By: Tomas Ronolski - AllPennyStocks.com News

Monday, July 17, 2023

This company is planning to develop a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek resource and was just granted a $37.5 million Department of Defense grant.

Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) announced in a press release that its wholly owned subsidiary, Graphite One ( Alaska ), Inc. was awarded a Department of Defense Technology Investment Agreement grant of $37.5 million under Title III of the Defense Production Act funded through the Inflation Reduction Act.

Through the DoD-Graphite One Technology Investment Agreement, the objective  is to perform an accelerated Feasibility Study to modernize and expand domestic production capacity and supply for graphite battery anodes necessary for electronic vehicles and alternative energy batteries, as an essential national defense technology item. At present, the U.S. is 100% import-dependent for graphite, with China being the world's leading producer 

U.S. shares closed Friday trade at $1.05.


Copyright © 2023 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Other Penny Stock Movers

Shares of Dual-Listed Lithium Firm Up After Announcing Quarterly Results
 Read More
Will A Shifting U.S. Labor Market Cause the Fed to Cut Rates in 2024?
 Read More
Firm Holds Strategic Conversation on Possible Acquisition in Short-Term Rental Market
 Read More
Most Popular
1
Expansion into Taiwan Markets Is Helping Shares of this Blockchain Firm
2
Shares of Dual-Listed Lithium Firm Up After Announcing Quarterly Results
3
Firm Holds Strategic Conversation on Possible Acquisition in Short-Term Rental Market
4
Dually-Listed Healthcare Stock Finds Mid-Week Success
5
Britain Shakes Off Recession as Economy Grows Faster Than Expected
6
Canadian Tire revenue down in first quarter as consumer spending softens
FREE Newsletter


Back to Top
Site Links:
Premium Services / Email Newsletter:
Social Media:
RSS Feed:
Partners:
© Copyright 2024 AllPennyStocks.com Media Inc. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes.
Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Data is provided by QuoteMedia.com.
© Copyright 1999 – 2024. AllPennyStocks.com Media Inc.
All rights reserved.