TORONTO, ONTARIO–(Marketwired – Dec. 14, 2016) – Great Lakes Graphite Inc. (“GLK” or the “Company”) (TSX VENTURE:GLK) (OTC PINK:GLKIF) (FRANKFURT:8GL) today announces that the Company has recently provided X Energy, LLC (“X-energy”) with samples of high purity micronized graphite for manufacturing research and qualification testing. High purity graphite is used to manufacture nuclear fuel compacts (“pebbles”) that are a defining feature of X-energy’s High Temperature Gas-cooled Reactor: the Xe-100.
Great Lakes Graphite CEO Paul Gorman commented, “We were contacted by X-energy recently, who requested product samples for Xe-100 pebble fuel manufacturing research. We are engaged with a number of potential customers now who are in the process of determining the suitability of our high purity micronized graphite for use in high technology applications that have the most stringent quality and performance requirements.”
The design for the Xe-100 specifies over 170,000 pebbles per reactor. Each 60-mm diameter pebble contains a core of uranium pellets, surrounded by a layer of graphite. The graphite layer is composed of both natural and synthetic graphites, in addition to a resin binder. Great Lakes Graphite has provided samples of three products to X-energy which will be evaluated as part of their pebble manufacturing supply chain initiative.
“The commercialization of our Xe-100 reactor depends on many components,” said X-energy Vice President for Business Development Jeff Harper. “The potential of working with Great Lakes on graphite matrix is very exciting as X-energy moves toward deployment of our safe and economical clean energy source.”
About X Energy, LLC: X-energy is dedicated to developing transformational nuclear energy solutions that change the world. The company is designing the Xe-100, an advanced nuclear reactor that will expand nuclear power into new markets in increments of approximately 74MWe. The Xe-100 series is designed to be small, simple and affordable. Key attributes of the design are that it requires less time to construct, with factory-produced components, and will be “walk-away” safe without operator intervention during loss of coolant conditions. In January 2016, X-energy was awarded a five-year US Department of Energy Advanced Reactor Concept Cooperative Agreement. The Agreement focuses on furtherance of reactor design, fuel development, and initial licensing activities. X-energy is based in Greenbelt, Maryland.
Twitter: @xenergynuclear; Facebook: facebook.com/xenergynuclear, www.x-energy.com.
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company focused on bringing value-added carbon products to a well-defined market.
The Company is party to an agreement for shared use of a portion of an industrial facility located in Matheson, Ontario owned by Northfil Resources Limited, as well as for supply of high quality natural graphite concentrate (see news release dated 03/23/15), which have positioned Great Lakes Graphite to become an emerging domestic manufacturer and supplier of micronized products to a growing regional customer base where pricing and demand continue to rise.
Further information regarding Great Lakes can be found on the Company’s website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 123,444,330 shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Information: Certain statements in this press release may constitute “forward looking information” which involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this press release, such forward looking information may use such words as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. Forward looking information is provided for the purpose of presenting information about management’s current expectations relating to the future events and the operating performance of the Company, and readers are cautioned that such information may not be appropriate for other purposes. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the ability of the Company to fulfill the orders and future orders, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Great Lakes operates. The foregoing list of factors is not exhaustive. Please see the Company’s financial statements, MD&A and other documents available on www.sedar.com, for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.