NanoXplore and VoltaXplore announce an agreement with a well-known heavy commercial vehicle OEM for supply of Li-ion battery cells and strengthening its energy storage team with former veteran of Tesla

MONTREAL, Aug. 31, 2023 (GLOBE NEWSWIRE) -- NanoXplore Inc. (“NanoXplore” or the “Corporation”) (TSX: GRA and OTCQX: NNXPF), a world-leading graphene company and its wholly owned subsidiary, VoltaXplore Inc. (“VoltaXplore”), a silicon-graphene-enhanced Li-ion battery manufacturer for the Electric Vehicle and grid storage markets, are pleased to announce that VoltaXplore has agreed on commercial terms for the supply of Li-ion battery cells with a well-known commercial vehicle OEM. Battery cells will be produced in VoltaXplore’s gigafactory starting from 2026. The agreement is for 1 GWh per year for a duration of 10 years following a pricing formula that passes through raw material cost to the customer.

Commenting on this new business relationship, Benoît Gascon, director of VoltaXplore, said: “We are delighted to start this new relationship which will use 100% of current production capacity during the factory ramp up in the first few years of the agreement and 50% at full capacity of the gigafactory. It is only the beginning of a great journey for VoltaXplore.”

Moreover, the Corporation is thrilled to announce the appointment of Nicolas Veilleux as the new Director of Automation and Construction of VoltaXplore.

Nicolas worked as the Senior Manager of Cell Controls Engineering at Tesla before joining VoltaXplore in 2023. While there, he established and oversaw the Cell automation teams across several locations, including Fremont, Austin, Berlin, and Toronto, and played a key role in the first productions of the internally developed Tesla batteries. Nicolas also led the construction of the automation system for the on-time parts delivery process of the Tesla Model 3 vehicle manufacturing lines. His exceptional skills in automation and construction processes have earned him recognition among industry peers and solidify his place as a visionary leader in the battery industry.

“VoltaXplore is progressing very well. As we are getting closer to the completion of our financing process, our recent supply deal and nomination of Nicolas are further de-risking our upcoming gigafactory project execution. Nicolas’ nomination as Director of Automation and Construction is a testament to his exceptional and decade-long contributions to the electrification space, particularly after his tenure at Tesla where he managed the first production of 4680 large format Li-ion battery cells,” said Soroush Nazarpour CEO of NanoXplore.