Special to the News
On Wednesday Westwater Resources Inc., an energy technology and battery-grade natural graphite company, announced that it has received a letter of interest from US EXIM Bank for its Kellyton Graphite Plant, under the “Make More in America Initiative” and the “China and Transformational Export Program.”
The letter of interest is separate from the Phase I debt syndication process for the Kellyton plant previously announced, which is still progressing.
“Westwater continues to make progress syndicating its previously announced debt facility. This LOI from EXIM adds additional potential sources of funding as we continue the development of our Kellyton graphite anode processing plant, which is 100% sold out for phase one,” said Steve Cates, Westwater’s chief financial officer.
The progression from a letter of interest to a loan commitment from EXIM requires a formal application, and for EXIM to complete due diligence, underwriting and finalization of terms and conditions. No assurance can be given that Westwater will ultimately enter into a loan transaction with EXIM.
About Westwater Resources Inc.
Westwater Resources is an energy technology company that is focused on developing battery-grade natural graphite. Westwater Resources’ primary project is the Kellyton Graphite Processing Plant that is under construction in east-central Alabama. In addition, Westwater Resources’ Coosa Graphite Deposit is the largest and most advanced natural flake graphite deposit in the contiguous United States and is located across 41,965 acres (approximately 17,000 hectares) in Coosa County.
