Panasonic Energy has announced the signing of an MOU regarding an offtake agreement with Quebec Canada based integrated graphite producer Nouveau Monde Graphite to establish a supply chain in North America for graphite, an anode active material used in lithium-ion batteries. The two parties will work alongside Mitsui & Co, NMG’s convertible bond underwriter to optimize a feasibility study for the development of an integrated graphite production business in North America carried out with the aim of concluding an offtake agreement by the end of March 2023. Panasonic Energy is working to expand its production of EV batteries in the US to meet increased demand and in the process will increase the percentage of materials procured locally and establishes a sustainable supply chain. The strategic partnership between Panasonic Energy, NMG, and Mitsui aims to promote integrated mine-to-battery-materials" business development in North America and will see the refining of graphite mined at NMG’s Matawinie Mine and anode active materials produced at its battery materials plant in Becancour, Quebec. Under the joint feasibility study, NMG will develop production facilities and material samples, and Panasonic Energy will evaluate them.