Mr. Soroush Nazarpour reports

NANOXPLORE AND VOLTAXPLORE ANNOUNCE AN AGREEMENT WITH A WELL-KNOWN HEAVY COMMERCIAL VEHICLE OEM FOR SUPPLY OF LI-ION BATTERY CELLS AND STRENGTHENING ITS ENERGY STORAGE TEAM WITH FORMER VETERAN OF TESLA

Nanoexplore Inc.'s wholly owned subsidiary, Voltaxplore Inc., has agreed on commercial terms for the supply of lithium-ion battery cells with a well-known commercial vehicle OEM (original equipment manufacturer). Battery cells will be produced in Voltaxplore's gigafactory starting from 2026. The agreement is for one gigawatt-hour per year for a duration of 10 years following a pricing formula that passes through raw material cost to the customer.

Commenting on this new business relationship, Benoit Gascon, director of Voltaxplore, said: "We are delighted to start this new relationship which will use 100 per cent of current production capacity during the factory ramp-up in the first few years of the agreement and 50 per cent at full capacity of the gigafactory. It is only the beginning of a great journey for Voltaxplore."

Moreover, the corporation is thrilled to announce the appointment of Nicolas Veilleux as the new director of automation and construction of Voltaxplore.

Mr. Veilleux worked as the senior manager of cell controls engineering at Tesla before joining Voltaxplore in 2023. While there, he established and oversaw the cell automation teams across several locations, including Fremont, Austin, Berlin and Toronto, and played a key role in the first productions of the internally developed Tesla batteries. Mr. Veilleux also led the construction of the automation system for the on-time parts delivery process of the Tesla Model 3 vehicle manufacturing lines. His exceptional skills in automation and construction processes have earned him recognition among industry peers and solidify his place as a visionary leader in the battery industry.

"Voltaxplore is progressing very well. As we are getting closer to the completion of our financing process, our recent supply deal and nomination of Nicolas are further derisking our upcoming gigafactory project execution. Nicolas's nomination as director of automation and construction is a testament to his exceptional and decade-long contributions to the electrification space, particularly after his tenure at Tesla where he managed the first production of 4,680 large-format Li-ion battery cells," said Soroush Nazarpour, chief executive officer of Nanoexplore.

Nanoexplore also welcomed Maciej Polewczyk as its director, advanced materials and manufacturing. Mr. Polewczyk will lead the engineering of the battery material manufacturing. With over 20 years of hands-on experience in the automotive industry, Mr. Polewczyk has established himself as a seasoned professional in the field. He was most recently director of business development for Voltaxplore and prior to that a global program manager at Martinrea International Inc., where he led an international team in engineering and manufacturing, and was responsible for launching assemblies specifically developed for the Mercedes Benz electric SUV's battery pack.

The addition of Mr. Veilleux and Mr. Polewczyk represents Nanoexplore's and Voltaxplore's commitment to assembling a dynamic and diverse team of industry experts. Their appointments reinforce the corporation's dedication to delivering groundbreaking solutions and achieving new milestones in the battery and battery material sectors.

About Nanoexplore Inc.

Nanoexplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in industrial markets. The corporation provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics and other industrial sectors. Nanoexplore is headquartered in Montreal, Que., with manufacturing facilities in Canada, the United States and Europe.

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