Since 2018,New Tigers Consulting(¡°NTC¡±)has served as Falcon Energy Materials plc(TSX-V: FLCN) (¡°Falcon¡±) strategic consultant in China, supporting the development of its vertically integrated cobalt-coated spherical purified graphite (¡°CSPG¡±) anode material project in the Kingdom of Morocco.
On October 16, 2025,Falcon, previously known as SRG Mining Inc., announced significant progress in the construction of its pilot plant (the ¡°Pilot Plant¡±) at Jorf Lasfar, near Casablanca, Morocco--a major milestone positioning Falcon as a leader in developing large-scale, high-purity coated spherical purified graphite (¡°CSPG¡±) for the global battery industry outside of China.
Figure 1: Pilot Plant civil construction works at Jorf Lasfar, Morocco
The construction contract for the Pilot Plant building, offices and ancillary infrastructure has been awarded to Open Steel Structure Maroc S.A.R.L (¡°Open Steel¡±).
With extensive industrial experience, Open Steel is also currently working for the COBCO joint-venture, a partnership between global battery precursor leader CNGR, and Al Mada, Morocco's largest private equity fund, Located directly adjacent to Falcon's site in Jorf Lasfar. This clustering of advanced battery materials production creates an unmatched ecosystem. NTC identified and helped evaluate Open Steel as the EPC contractor, leveraging its local market expertise to ensure a reliable and efficient partnership.
NTC is supervising and coordinating the construction process of Falcon's pilot plant, with OPEN Steel serving as the EPC contractor. NTC continues to provide oversight and coordination for the pilot plant construction, supervising OPEN Steel's work as the EPC contractor to ensure project alignment with Falcon's technical requirements, timeline, and budget, thereby safeguarding the project's successful execution and operational readiness.
About Falcon
Falcon aims to become a fully integrated supplier of battery anode materials. The Company¡¯s integrated business model would result in the creation of a mine-to-market active anode material producer, hosting a large high-purity graphite production mine in the Republic of Guinea, and a value-added, coated spherical purified graphite conversion facility in Morocco.
With attractive operating costs, proximity to European end-markets and strong ESG credentials, the Company is poised to become a reliable supplier while promoting sustainability and supply chain transparency. Falcon is committed to generating sustainable, long-term benefits that are shared with the host countries and communities where it operates.
