Sacramento, CA, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Spotlight Growth has published new content on Great Lakes Graphite, Inc. (OTCQB: GLKIF) (TSXV: GLK). The company is currently in the process of changing its name to NovoCarbon Corp., pending shareholder vote. NovoCarbon Corp. operates as a clean technology minerals processing company.
The report provides an overview of NovoCarbon Corp., its operations, recent updates, and an overview of the Trump Administration’s efforts to secure reliable supplies of minerals and commodities that are deemed critical for the U.S. economy or national security.
President Trump Signs Executive Order 13817: “A Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals”
On December 20, 2017, President Donald Trump signed Executive Order 13817 called “A Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals.”
In the executive order’s report, the White House described that the “United States is heavily reliant on imports of certain mineral commodities that are vital to the Nation’s security and economic prosperity. This dependency of the United States on foreign sources creates a strategic vulnerability for both its economy and military to adverse foreign government action, natural disaster, and other events that can disrupt the supply of these key minerals.”
The president’s executive order effectively called upon the Secretary of the Interior and the Secretary of Defense to draft a list of minerals and commodities that are deemed critical to the U.S. economy or national security interests. Furthermore, the executive order calls for increasing activity across all levels of the critical mineral supply chain, as well as streamlining leases and permitting process.
On May 18, 2018, the U.S. Department of the Interior published its final list of critical minerals for 2018. The list contains thirty-five different minerals and commodities. Among the list of critical minerals was graphite. Graphite is a critical mineral used in batteries, coatings, brakes, paints, powdered metal compounds, and more.
According to MarketsAndMarkets.com, the global graphite market is estimated to be worth $29.05 USD by 2022, which represents a compound annual growth rate (CAGR) of 5.2% between 2017 and 2022.
Furthermore, ResearchAndMarkets.com estimates the global lithium-ion battery market to grow at a CAGR of 15.50% between 2017 and 2025.
NovoCarbon Corp.: Submitted Initial Materials and Application to U.S. Department of Defense
NovoCarbon Corp (“doing business as” name for Great Lakes Graphite, Inc.) is a Canadian clean energy minerals processing company, which supplies customers with proprietary, high-quality, and value-added carbon products. The company has effectively been selling high-purity micronized synthetic graphite products since 2016. Recently, NovoCarbon Corp. added a high- purity micronized natural graphite flake product to its lineup.
The company recently announced that it is actively pursuing graphite-related business opportunities with the U.S. Department of Defense (DOD). On July 23, 2018, NovoCarbon Corp. announced that it has submitted the initial required materials and white paper brief detailing of the proposed “initial steps to enhance the resiliency of the supply chain for highly processed graphite required for the manufacture of batteries and energy storage systems.”
Prior to submitting the application, NovoCarbon Corp. CEO Paul Gorman visited Washington D.C. earlier this year to attend high-level meeting with officials from the U.S. Department of Defense and Energy. Management feels the meetings were very productive and gave them a clearer picture on what specifics the U.S. government is looking for in a supplier.
“While there is certainly no guarantee of success, we are confident in our prospects and are highly encouraged by the preliminary feedback we have received in meetings with personnel at the Department of Defense. Meanwhile, we have become aware of additional opportunities that are available through the DOD and are preparing to pursue them. We are being supported by the team at J. A. Green & Company, whose assistance has been invaluable,” details CEO Paul Gorman.
For more information on NovoCarbon Corp., please visit http://novocarbon.com and http://spotlightgrowth.com/index.php/2018/08/09/great-lakes-graphite-inc-otcqb-glkif-tsxv-glk-aggressively-seeking-to-become-a-key-graphite-supplier-to-the-united-states-government-under-the-white-houses-critical-minerals-executive-order/
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