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Westwater Resources, Inc. (NYSE:WWR), an energy technology and critical minerals company, focused on developing battery-grade natural graphite ("Westwater," "Westwater Resources," or the "Company"), today announced a strategic update.
On November 3, 2025, FCA US LLC ("FCA"), which is a subsidiary of Stellantis N.V. ("Stellantis"), unexpectedly terminated its Binding Offtake Agreement with the Company dated July 17, 2024. Stellantis was one of three companies, including SK On and Hiller Carbon, with existing offtake agreements with Westwater.
"Collectively, our offtake agreements with Stellantis, SK On, and Hiller Carbon supported our ongoing debt syndication," said Terence Cryan, Executive Chairman of Westwater Resources. "However, due to Stellantis's unexpected termination, the debt syndication is now paused, although our engagement with EXIM and other government agencies regarding financing opportunities is ongoing. In response to these developments, we are focused on optimizing the Kellyton Plant to meet our current offtake commitments, which should reduce the total capital needed to complete Phase I."
Efforts are now underway to optimize capital investment for Phase I of the Kellyton Graphite Plant ("Kellyton Plant"). The intention is to adjust processing capacity to match the existing offtake agreements and available financing in this initial phase. This strategy is expected to lower the plant's initial capacity and, in turn, decrease the total capital and reduce the time needed to reach commercial production. The Company expects to complete this optimization evaluation by the end of the year and plans to provide an update to the market in early 2026.
Both of the offtake agreements with SK On and Hiller Carbon remain in effect. While FCA has indicated they are open to reconsidering a new arrangement with the Company, any future agreement would be based on current market conditions. The Company continues to explore additional offtake opportunities with other prospective customers and are providing them with samples as part of its ongoing engagement.
Posted In: WWR
