Westwater Resources secures letter of interest from US EXIM Bank for Kellyton Plant
- Westwater Resources announced receipt of a letter of interest from US EXIM Bank for its Kellyton Graphite Plant.
- The letter of interest could provide additional funding sources for the plant's development.
- This indicates strong progress for Westwater as it continues with its construction and financing plans.
In Centennial, Colorado, on May 7, 2025, Westwater Resources, Inc., a company specializing in energy technology and battery-grade natural graphite, announced it has received a letter of interest from the US Export-Import Bank (EXIM) for its Kellyton Graphite Processing Plant. This announcement is a significant stride under the initiatives termed 'Make More in America' and the 'China and Transformational Export Program.' The Kellyton plant, which is located in east-central Alabama, is currently under construction and is fully sold out for its first phase of production. Steve Cates, the Chief Financial Officer of Westwater, noted that this letter from EXIM presents further potential funding sources as they continue to develop the graphite anode processing facility. This letter of interest is distinct from the ongoing Phase I debt syndication process, indicating that Westwater is actively seeking financial support to complete its construction. It is important to note that moving from a letter of interest to a formal loan commitment involves a series of due diligence and underwriting steps by EXIM, and there is no guarantee that a final loan agreement will be reached. Westwater Resources is focused on enhancing its operations through the development of battery-grade natural graphite, an essential material in the manufacturing of batteries, which are increasingly in demand due to the rising adoption of electric vehicles and energy storage solutions. The company's primary project, the Kellyton Graphite Processing Plant, is pivotal in meeting this growing need, while its Coosa Graphite Deposit boasts the largest and most attended flake graphite deposit across the contiguous United States, covering approximately 41,965 acres in Coosa County, Alabama. Caution is advised regarding forward-looking statements made by the company, as they may be subject to various risks and uncertainties that could affect the actual outcomes of their projected plans. Investors and stakeholders are encouraged to review these factors as presented in Westwater’s annual report and ongoing regulatory filings. Overall, this letter of interest indicates a positive development in the realm of renewable energy production, signalling potential growth for both Westwater Resources and the broader energy technology sector.