E-Power Resources (CSE:EPR) has finalized its oversubscribed private placement, securing additional capital for its Tetepisca flake graphite property in Québec. The company issued approximately 5.6 million shares at C$0.05 in the placement’s final tranche, raising C$279,912. This funding will be used to advance the Tetepisca project, which comprises 230 claims covering about 12,620 hectares within the Tetepisca Graphite District.
The Tetepisca Graphite District is known as the richest in North America. E-Power’s project is immediately adjacent to Uatnan, one of the world’s largest graphite projects currently in development. As demand for graphite rises due to its crucial role in lithium-ion batteries, projects like Tetepisca become increasingly important. A 50 kWh electric vehicle battery requires 100 kg of graphite, surpassing the combined need for lithium, manganese, cobalt, and nickel.
Graphite is used to manufacture the anode in lithium-ion batteries due to its electrical conductivity and stability. Benchmark Mineral Intelligence forecasts a 140% increase in natural graphite demand by 2030, requiring an additional 1.7 million tonnes of material. Meeting this demand will require the development of 31 new natural graphite mines and 12 new synthetic graphite plants globally, highlighting the potential value of E-Power’s Tetepisca project.
