Category Industries

Press Release

NextSource Materials Secures Binding Agreement for US$30 Million Strategic Investment from Japan's Hanwa and JOGMEC to Advance its UAE Battery Anode Facility

Highlights: Binding Share Subscription Agreement executed with strategic Japanese consortiumNextSource has entered into a binding Share Subscription Agreement ("SSA") with Hanwa Co., Ltd ("Hanwa") and the Japan Organization for Metals and Energy Security ("JOGMEC"), an agency of the Japanese government, establishing the purchase of a 15% ownership interest at the project level in NextSource's Battery Anode Facility ("BAF") in the United Arab Emirates ("UAE"). US$30 million investment for 15% interest in NSM's BAF subsidiary in the UAEUS$30 million strategic investment by Hanwa and JOGMEC, through their jointly owned investment vehicle, for a 15% equity interest in the UAE BAF project company, with NextSource retaining 85% ownership upon closing. Strategic partnership, supported by fully contracted route to marketA Shareholders' Agreement ("SHA") is expected to be executed shortly following the SSA to establish a strategic partnership for the UAE BAF. NextSource's BAF-produced natural graphite anode material is intended to suppy a major manufacturing company's EVs through a binding contractual offtake agreement, with NextSource as the sole supplier for a multi-year term. Near-term production, followed by staged expansionPhase 1 of the UAE BAF is designed to produce approximately 14,000 tonnes per annum of anode material, with ramp-up expected to begin in H2 2027, with planned expansion to approximately 30,000 tonnes per annumThe project is advancing through pre-EPC mobilization following the Final Investment Decision announced on May 12, 2026 Further funding workstreams progressi Read More