Australia-based graphite producer EcoGraf has unveiled plans for the development and expansion of its battery anode material facility in Western Australia.
EcoGraf said the new state-of-the-art facility would produce high purity battery anode material using the Company’s proprietary EcoGraf HFfree purification process for export to battery markets in Asia, Europe and North America.
The initial phase of the development of the 5,000tpa commercial scale facility, which EcoGraf will fund using its existing cash reserves from the A$54.6 million institutional placement completed in February 2021, will be followed by a 12-month expansion program to achieve a production level of 20,000tpa.
EcoGraf said the planned expansion would be funded through a US$35 million loan facility from Export Finance Australia, subject to the satisfaction of a number of conditions customary for a loan of this nature.
“This is an important milestone in the Company’s development plans for the new EcoGraf Battery Anode Material Facility, which will be the first of its type globally, providing battery and electric vehicle manufacturers with sustainably produced, high performance battery anode material for lithium-ion batteries and EcoGraf is pleased to be actively supporting Australia’s Critical Minerals Strategy for the transition to clean energy,” the company said in a statement.