Nouveau Monde Graphite (NMG) is a development-stage Canadian mining and materials company building a fully integrated graphite supply chain in Québec, from raw ore to advanced graphite materials for battery, industrial, and specialty applications. NMG's two core projects are the Matawinie Mine in Saint-Michel-des-Saints, which will produce natural flake graphite concentrate, and the Bécancour Battery Material Plants, which will process that concentrate into active anode material for lithium-ion batteries and other refined graphite products. NMG currently has no commercial operations and generates no product revenue. Once operational, NMG's business model centers on long-term, contracted offtake agreements: 13 ktpy of active anode material to Panasonic Energy, up to 20 ktpy of graphite concentrate to Traxys (10 ktpy on a firm take-or-pay basis), and 15 ktpy of concentrate to the Government of Canada on a take-or-pay basis. Pricing across these agreements is largely market-linked. NMG's integrated ore-to-anode model is designed to capture more value per tonne than selling raw concentrate alone, though it requires substantially more upfront capital. The company argues it is differentiated by its carbon-neutral production profile, enabled by Québec's renewable hydropower grid, and by being one of the only non-Chinese producers targeting the Western battery supply chain. NMG is pre-FID and dependent on equity and debt financing to fund Phase-2 construction.