Anovion Launches as a Leader in the North American Battery Materials Supply Chain Bringing Proven Anode Technologies and Over 140 Years of History in Synthetic Graphite Production

Acquisition of Pyrotek’s Battery Materials Division Now Positions Anovion with the Largest Commercial Production Capacity for Key Anode Material in the USA with Expansion Plans to Address the Rapidly Growing Market Needs

Chicago, Illinois – March 25, 2022 — Anovion launches today as a leader in the North American battery materials supply chain through the combination of key assets contributed by affiliates of Amsted Graphite Materials, a world leader in graphite materials science, and the acquisition of Pyrotek’s battery materials division, a manufacturer of synthetic graphite anode material critical for lithium-ion batteries. Together, these businesses create a leader in North America’s rapidly growing battery materials supply chain and the largest commercially operational production capacity of synthetic graphite anode material in the United States. With over 140 years of combined history in synthetic graphite production, Anovion is well-positioned to serve a growing, diverse set of demanding customers with anode technologies for lithium-ion batteries.

“Synthetic graphite is critical to the USA’s migration to an electrified future powered by rechargeable batteries,” said Eric Stopka, CEO of Anovion. “But foreign producers, overwhelmingly from China, have controlled the global supply of anode material. Launching Anovion is a huge step toward securing the supply chain of our electrified future in the United States and throughout North America.”

Synthetic graphite is the key advanced material in the anode of lithium-ion batteries used in electric vehicles which are already ubiquitous in consumer electronics, critical defense applications and stationary storage for electric grids.

“Long-life batteries need high purity, highly consistent anode material that drives strong preference for synthetic graphite,” said Ian McCallum, Chief Growth Officer of Anovion, and former VP, Sales & Marketing of Amsted Graphite Materials. “Our integrated, 100% domestic supply chain includes USA-sourced raw materials as well as multiple manufacturing operations, research and development hubs, and other office locations throughout the country.”

Amsted Graphite Materials is located in Clarksburg, WV. Pyrotek’s battery materials division operates at locations outside of Niagara Falls, NY and in Spokane, WA. Anovion is headquartered in Chicago, IL.

Anovion uses proven, reliable, scalable graphitization technology to ensure a product with high crystallinity and low impurities.  Anovion has the largest anode powder graphitization capacity in North America at 5,000 tpa (tonnes per annum) today; a first expansion plant, planned to launch by 2025, will boost capacity up to 50,000 tpa finished product – a critical step in a roadmap targeting 150,000 tpa in capacity or more over the longer term.

“We are excited to join an experienced leader like Amsted Graphite Materials in launching Anovion and in helping to create supply chain security and efficiencies in this rapidly growing market,” said Dr. Jeremy Schrooten, Vice President of Technology with Anovion, formerly Pyrotek’s Technical Director. “Anovion uses advanced technologies and follows environmentally responsible manufacturing practices that yield high purity and exceptional quality without compromising throughput.” Anovion’s pilot operations include a proprietary thermal treatment process that brings its direct emissions profile to near zero and uses clean, cost-effective hydroelectric power to achieve its aggressive sustainability targets.

The investor group supporting Anovion’s future plans includes affiliates of Amsted Industries and Monomyth Group, both headquartered in Chicago, IL.

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About Anovion

Headquartered in Chicago, IL, Anovion is an advanced materials technology company with North America’s first commercially operational capacity dedicated to synthetic graphite anode material. Bringing over 140 years of history to the production of synthetic graphite, Anovion is already a leader in lithium-ion graphite anode battery materials innovation and manufacturing, with domestic commercial production and shipments to North American customers. Anovion has continually expanded its portfolio of high-performing anode material designed to suit a wide range of demanding lithium-ion battery applications. Anovion products are already qualified and in scaling production with customers in key markets like commercial electric vehicles, aerospace and defense, and are undergoing qualification testing with leading automotive electric vehicle OEMs and suppliers, among many others. For more information, visitwww.anovion-anode.com.

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