KEY POINTS
- ExxonMobil acquired Superior Graphite’s U.S. assets to expand synthetic graphite production.
- Synthetic graphite supports U.S. efforts to build a domestic EV and energy storage supply chain.
- The deal leverages ExxonMobil’s refining feedstocks and Superior Graphite’s technology for next-gen batteries.
ExxonMobil Corp. is moving into the fast-growing synthetic graphite business with the acquisition of Superior Graphite’s U.S. assets and select international operations, in a bid to position itself at the centre of America’s electric vehicle and energy storage transition.
The purchase, announced this week, hands ExxonMobil access to more than a century of materials expertise developed by Superior Graphite, a Chicago-based company that has supplied industrial-grade graphite products since 1917. Financial terms weren’t disclosed.
By pairing Superior Graphite’s proprietary processes and intellectual property with its own refining capacity and global scale, ExxonMobil said it plans to accelerate production of synthetic graphite in the U.S. — a material increasingly critical for lithium-ion batteries.
Unlike natural graphite, which is mined largely in China, synthetic graphite can be manufactured domestically, ensuring both supply security and quality consistency.
“Put simply, we can scale faster, smarter, and deliver a better product than what the market has today,” ExxonMobil said in a statement, underscoring its intent to build out a U.S.-anchored supply chain.
Battery Push Aligns With U.S. Industrial Policy and EV Growth
The move comes as the U.S. intensifies efforts to onshore key minerals used in clean energy technologies, with the Inflation Reduction Act offering incentives for domestic battery material production. Synthetic graphite plays a critical role in anodes — the negative side of lithium-ion batteries — where performance improvements can boost charge rates and extend battery life.
ExxonMobil said it expects demand for high-performance graphite to soar as automakers ramp up electric vehicle production and utilities deploy more stationary storage systems. By integrating Superior Graphite’s know-how with ExxonMobil’s operational capacity, the company believes it can deliver next-generation materials tailored to the needs of EV manufacturers.
Beyond technology, the company framed the deal as an investment in American jobs and industrial competitiveness. “Together, we’re building a graphite business that strengthens U.S. energy security while fueling economic growth in advanced materials,” the statement read.
ExxonMobil has already committed volumes from its U.S. feedstocks for graphite manufacturing, drawing on carbon-rich byproducts from its refining operations. Analysts say the strategy not only diversifies its portfolio but also positions the oil major to play a more prominent role in the energy transition supply chain — extending its influence from fuels into battery materials.
