Nouveau Monde Graphite Inc. (TSXV: NOU) announced this morning that they have entered into a collaboration agreement with Lithion Recycling to reuse graphite as anode material for lithium-ion batteries. The partnership is a step forward for both companies’ sustainability goals.

Nouveau Monde develops graphite-based materials for its energy solutions while Lithion Recycling is in the business of recycling lithium-ion batteries. The collaboration seeks to develop a cost-effective technical and commercial solution for recycled graphite as an upcycled raw material for batteries.

While the two companies did not share any financial implications of the collaboration, Nouveau Monde CEO Eric Desaulniers relayed in a statement that the partnership’s goal is, “to insert an increasing percentage of recycled material into [its] transformation process and, thus, potentially increase [the] overall production capacity, revenue, and margins.”

Nouveau Monde Graphite Inc. last traded at $13.90 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.