EcoGraf Limited, Australia and Germany, has had a positive start to the year as it progresses its Western Australia battery graphite facility to development, Themarketherald.com.au reports.
The company is building a new state-of-the-art processing facility which will be used to manufacture spherical graphite products.
EcoGraf’s breakthrough graphite technology uses recycled batteries. This allows the recycling industry to reduce battery waste and use recycled graphite to improve battery lifecycle efficiency.
During the recent quarter, the company submitted detailed development reports and engineering study information to Export Finance Australia. This was needed to secure a US$35 million (around A$45 million) debt facility to underpin the new 20,000 tonnes per annum battery graphite facility.
Supporting reports are now being finalised and will be completed shortly following credit approvals.
Additionally, EcoGraf will now be finalising arrangements for the detailed engineering design and procurement programs in preparation for the construction.
Interestingly, the new battery graphite facility is the company’s first facility and the first to be established outside of China.
“The company has received strong support from anode cell, battery and electric vehicle manufacturers for alternative supplies of high quality, sustainably produced battery graphite to support the massive global investment underway in new electric vehicles and lithium-ion battery capacity,” EcoGraf said.
About EcoGraf
Founded on a commitment to innovation and sustainability, EcoGraf is building a vertically integrated business to produce high purity graphite for the lithium-ion battery market. The new state-of-the-art processing facility in Western Australia will manufacture spherical graphite products for export to Asia, Europe and North America using a superior, environmentally responsible purification technology to provide customers with sustainably produced, high performance battery anode graphite. In time the battery graphite production base will be expanded to include additional facilities in Europe and North America to support the global transition to clean, renewable energy in the coming decade. In addition, the Company’s breakthrough recovery of graphite from recycled batteries using its EcoGrafTM process will enable the recycling industry to reduce battery waste and use recycled graphite to improve battery lifecycle efficiency. To complement the battery graphite operations, EcoGraf is also developing the TanzGraphite natural flake graphite business, commencing with the Epanko Graphite Project, which will supply additional feedstock for the spherical graphite processing facilities and provide customers with a long-term supply of high quality graphite products for industrial applications such as refractories, recarburisers and lubricants. EcoGraf, a unique vertically integrated graphite business, positioned for the future of clean energy.
