Nouveau Monde Graphite has signed a letter of intent with Chinese anode producer Hunan Zhongke Shinzoom to market Shinzoom’s anode materials to battery manufacturers in North America.
The two companies will form a distribution joint venture, and if the results are satisfactory after 18 months, will evaluate the feasibility of manufacturing Shinzoom’s anode material products (natural, artificial and composite graphite) in the Province of Quebec.
“Shinzoom is a well-respected and established anode material producer in Asia,” said Éric Desaulniers, CEO of Nouveau Monde. “The collaboration would provide North American battery makers with much needed high-quality and competitively-priced anode materials. This strategy would allow Nouveau Monde to become more vertically integrated and initiate a dialogue with customers. Our graphite project is not covered in the non-binding LOI, but anodes require graphite, and in the event of potential manufacturing of Shinzoom’s anode material products in Quebec it would obviously be beneficial for Nouveau Monde’s graphite products.”
“The North American market has tremendous growth potential for Shinzoom and we are ready to penetrate this market with our leading-edge anode material products,” commented Mr Tao Pi, General Manager of Shinzoom. “We believe that Nouveau Monde has good connections with major North American battery manufacturers and we sincerely hope that our collaboration with Nouveau Monde will immediately increase our sales in North America.”
Source: Nouveau Monde