Westwater Resources, Inc. (NYSE American: WWR), a company specializing in energy technology and battery-grade natural graphite, has announced a significant binding off-take agreement with Fiat Chrysler Automobiles (FCA), now part of the Stellantis group. This agreement involves Westwater supplying natural graphite anode material from its Kellyton Graphite Plant in Alabama to FCA’s U.S. battery partner plants. Under the agreement, FCA is committed to purchasing an annual quantity of graphite based on a percentage of their projected volume.
Frank Bakker, President and CEO of Westwater Resources, commented, “This agreement with FCA represents a major milestone for Westwater and is crucial for securing the remaining construction financing for the Kellyton Phase I project.”
Terence Cryan, Executive Chairman of Westwater, added, “We are proud to collaborate with a leading EV manufacturer like FCA and support their efforts to establish a U.S.-based supply chain for natural graphite anode material.”
Jon Jacobs, Chief Commercial Officer of Westwater, noted, “This deal ensures that we have secured off-take agreements for 100% of our Kellyton Phase I capacity. Our team has diligently worked to position itself as a leader in U.S.-produced natural graphite, and we are committed to securing additional agreements for our expanded Phase 2 capacity.”
Stellantis N.V., formed in 2021 through the merger of Fiat Chrysler Automobiles (FCA) and the PSA Group, is a global automotive manufacturer headquartered in Amsterdam. As of 2023, Stellantis is the fourth-largest automaker by sales worldwide, following Toyota, Volkswagen Group, and Hyundai Motor Group, and is listed on the Borsa Italiana, Euronext Paris, and the New York Stock Exchange.
Stellantis operates under 14 brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, and Vauxhall. At the time of the merger, Stellantis employed approximately 300,000 people, had a sales presence in over 130 countries, and operated manufacturing facilities in 30 countries.
