Westwater Resources Announced The Execution Of A Binding Off-take Agreement With Fiat Chrysler Automobiles, An Electric Vehicle Manufacturer And Part Of The Stellantis Group Of Companies.
Portfolio Pulse from Benzinga Newsdesk
Westwater Resources has signed a binding off-take agreement with Fiat Chrysler Automobiles, part of Stellantis, to supply natural graphite anode material. This agreement, along with a previous one with SK ON, secures 100% of Westwater's Kellyton Phase 1 capacity. Westwater is now seeking debt financing to complete the construction of its Kellyton plant.
July 18, 2024 | 10:03 am
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Fiat Chrysler Automobiles, part of Stellantis, has entered into a binding off-take agreement with Westwater Resources for natural graphite anode material, supporting its electric vehicle production.
The agreement with Westwater Resources ensures a steady supply of natural graphite anode material for Fiat Chrysler Automobiles, supporting its electric vehicle production and potentially enhancing its market position in the EV sector.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Westwater Resources has secured a binding off-take agreement with Fiat Chrysler Automobiles, ensuring 100% of its Kellyton Phase 1 capacity. This positions the company well for future growth and financing.
The binding off-take agreement with a major player like Fiat Chrysler Automobiles ensures full utilization of Westwater's Kellyton Phase 1 capacity. This is a significant milestone that enhances revenue visibility and strengthens the company's position for securing debt financing.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100