Graphite One Tightens Its Timeline as Alaska Approval Nears and Ohio Plans Take Shape

Graphite One confirms its Alaska Graphite Creek project is on schedule under FAST-41, while advancing a modular Ohio processing plant for EV anode production by 2028.

The United States imports 100 percent of its natural graphite — virtually all of it from China — leaving a critical vulnerability in the battery supply chain. Graphite One is positioning itself as the domestic answer, and the company has just confirmed that its flagship Alaska project remains on schedule, while laying groundwork for a parallel processing facility in Ohio.

Alaska Clearance Stays on Track

Graphite One confirmed on April 27 that its Graphite Creek project in Alaska is advancing through a coordinated environmental review under the FAST-41 federal framework, with the U.S. Army Corps of Engineers serving as lead agency. The updated permitting dashboard holds firm on a final decision target of September 29, 2026.

Graphite Creek made history in June 2025 as the first mining project in Alaska admitted to the FAST-41 program, which binds multiple federal agencies to a fixed timeline without compromising environmental or regulatory standards. The 13.5-month review period began with the publication of a coordinated project plan in August 2025. CEO Anthony Huston noted that FAST-41 has delivered exactly what it was designed for: greater predictability, punctuality and accountability across federal agencies.

Ohio Emerges as the Near-Term Priority

While Alaska remains the long-term prize, the more immediate catalyst lies in Ohio. Graphite One plans to build a processing plant there that will convert Alaskan graphite concentrate into anode material for electric vehicles, energy storage systems, AI data centers and defense applications. The company intends to seek FAST-41 coverage for this facility as well, mirroring the streamlined approach used for Alaska.

The Ohio plant is designed with modular architecture. The first two modules, each with 25,000 tonnes of annual capacity, are expected to require three years for permitting and construction, putting initial production in 2028. By 2031, the company aims to expand to seven modules with a combined capacity of 175,000 tonnes of graphite concentrate per year and 169,000 tonnes of anode material annually — enough, according to the company, to supply more than two million mid-sized electric vehicles.

Graphite One’s two-phase strategy calls for first revenue by mid-2027 from a synthetic graphite production line in Ohio, starting at 10,000 tonnes per year with subsequent expansion stages of 25,000 tonnes each. The 2028 revenue target stands at $89 million with EBITDA of $40 million. Mining in Alaska is slated to begin in 2030, with revenue potentially approaching $1 billion by 2032.

Market Reaction and Financial Metrics

Shares responded to the permitting update with a 8.7 percent gain on April 27, reaching a two-week high of C$1.27. On a U.S. dollar basis, the stock currently trades at $0.88 — roughly 10 percent above its 50-day moving average and about 23 percent higher than one month ago. Year-to-date, however, the stock remains down roughly 25 percent, underscoring the volatility that has characterized the name.

A feasibility study underpins the project with a pre-tax net present value of $6.4 billion and an internal rate of return of 30 percent. The stock sits about 24 percent above its 50-day average of $0.80 on a USD basis.

Strategic Partnerships and Washington Backing

Three Alaska Native corporations — Bering Straits, Doyon and Aleut — collectively hold 9.2 percent of Graphite One’s shares, giving the project strong local roots. In February 2026, the company appointed a dedicated vice president for community relations.

On the customer side, Graphite One has signed non-binding supply agreements with Lucid Group for both synthetic and natural graphite. The U.S. Export-Import Bank has signaled interest in providing up to $2.07 billion in financing, underscoring Washington’s focus on securing critical mineral supply chains.

With the FAST-41 decision for Alaska now less than five months away and the Ohio application in preparation, Graphite One faces two concrete milestones that will test whether its ambitious timeline can hold — and whether the revenue ramp from Ohio can begin as planned in mid-2027.