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EcoGraf is developing a vertically integrated graphite business, from mine to battery materials with it’s clean chemistry, low-cost HFfree purification to support secure and sustainable lithium-ion battery supply chains.

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Latest investor presentationInvestor Resources

Corporate Snapshot As at 4 September

Dual Listing:

AUS / DE

Market Cap:

A$115.4 million

52-week range:

A$0.22 – A$0.680

Resources:

Graphite / Gold

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  • Graphite market outlook and opportunity
  • Battery anode material development
  • EcoGraf HFfree® purification advantages
  • Sustainable supply chain solutions
  • Tanzania investment opportunities
  • ESG and community development initiatives
  • Our Exploration Upside including Gold assets
  • Partnership Opportunities

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Why EcoGraf?

Integrated Business

Integrated from mine-to-battery anode material, capturing value across the supply chain

Largest Resource in Africa

Epanko Project is the largest development ready graphite resource in Africa providing long-life, high quality feedstock

EcoGraf HFfree® Tech

EcoGraf’s proprietary purification process eliminates hydrofluoric acid, delivering a cleaner, more sustainable solution.

Growth Sector

Positioned to support growing demand from EV, battery, defence and advanced manufacturing sectors

Higher Margins

Industry-leading low-cost producing higher margins through mining, purification and BAM production

Industry-Leading ESG

Meets World Bank & lender requirements & aligns with the following IFC Performance Standards

Latest investor presentationInvestor Resources

Investor FAQs

EcoGraf is advancing a funding strategy comprising senior debt, strategic equity and industry participation. The Company continues to progress its mandated KfW IPEX-Bank debt facility while advancing discussions with strategic investors and potential funding partners.
The strategic equity process is progressing well, with interest from government funds, chemical companies, battery and cell manufacturers, OEMs and private equity groups. Discussions cover opportunities across the upstream, midstream and downstream parts of the business.
The Company reports strong interest from a range of parties across Europe and Asia. Discussions are occurring with participants throughout the battery materials supply chain, including groups interested in mine development, mechanical shaping and purification opportunities.
EcoGraf has secured offtake agreements covering a significant portion of Stage 1 production and is receiving increasing interest from customers seeking future supply. Discussions are now extending beyond Stage 1, particularly with groups evaluating longer-term requirements and future expansions.
Management believes increasing restrictions on graphite exports from China are highlighting the need for alternative supply chains. Customers and governments in Europe and Asia are seeking secure, long-term supplies of graphite and battery materials from outside China.
EcoGraf’s proprietary HFfree® purification process produces battery-grade graphite without the use of hydrofluoric acid. The technology has demonstrated strong environmental credentials, competitive operating costs and the flexibility to process both natural graphite and recycled battery materials.
Germany is emerging as a strategic market due to its growing battery manufacturing sector and focus on securing critical raw material supply chains. EcoGraf is evaluating opportunities to locate its purification facilities near major battery manufacturing hubs in Europe.
Management views the Tanzanian gold portfolio as a significant value opportunity alongside the graphite business. The Company has secured an active farm-in agreement with AngloGold Ashanti while continuing to advance several highly prospective gold projects.
Management has indicated that a future spin-out remains a potential option. However, the current focus is on advancing exploration activities and adding further value before considering any separation of the assets.
Following completion of financing and a final investment decision, construction is expected to proceed in line with the Definitive Feasibility Study, which outlines an approximate two-year construction period before first production.
Management’s vision is to build a globally significant, vertically integrated battery anode materials business supplying customers in Europe, Asia and North America. Future growth would be supported by expansion of the Epanko Graphite Project and the development of purification facilities in major battery manufacturing regions.
Management believes the Company’s value is not fully reflected in its current market capitalisation, pointing to its vertically integrated graphite strategy, proprietary HFfree® technology, strategic partnerships, offtake agreements, large-scale graphite resource and gold portfolio as key drivers of future growth and value creation.

Graphite Market Insights

The Critical Role of Graphite and Epanko's Strategic Advantage

A series of independent reports released recently have highlighted graphite’s critical role in energy security, battery supply chains, and sustainability objectives. Their findings consistently reinforce the strong technical, economic, and ESG credentials of EcoGraf’s Epanko Graphite Project, while a recent Value Benchmark Analysis confirms Epanko as a leading low-cost graphite project.

25/09/2026 Download Epanko Beyond the Cost Curve Study 15/09/2026 Download ECGA: Securing Europe's Energy Transition: The Strategic Role of Graphite 11/09/2026 Download KfW Research: How severe is the impact of the China shock on raw materials? 11/08/2026 Download Cavendish: 'Graphite – The Projects Best Positioned for Value Creation' 18/06/2026 Download – Australian Independent Investment Research Report

Epanko Beyond the Cost Curve Study

The independent study ‘Epanko Beyond the Cost Curve’, prepared by analyst Patrick Chang was released this week, which found that traditional graphite industry cost curves do not fully reflect project competitiveness because product quality and revenue potential are key drivers of profitability. Using a value-based benchmarking framework that combines normalised operating costs with estimated product value, the study ranked EcoGraf’s Epanko Graphite Project in the first quartile of its peer group, highlighting its low-cost position, strong margin potential and the high quality of its graphite products.

ECGA: Securing Europe's Energy Transition: The Strategic Role of Graphite

ECGA’s latest report highlights graphite as an essential battery material with no scalable substitute, reinforcing the need for new non-Chinese sources of natural graphite, battery-grade purification and active anode material production to support Europe’s energy transition and supply chain resilience.

KfW Research: How severe is the impact of the China shock on raw materials?

The KfW report reinforces the urgent need for Europe to develop alternative graphite supply chains as it seeks to achieve its battery, clean energy, AI and defence ambitions. With China controlling around 94% of graphite processing capacity, the report identifies graphite as one of Europe’s highest-risk critical minerals and highlights purification and battery anode production as key supply chain vulnerabilities. The report concludes that diversification away from China is now a strategic policy priority, with integrated mine-to-anode projects favoured over standalone mining operations. It also suggests that government support, strategic financing and long-term offtake agreements will be essential to establishing secure and resilient graphite supply chains outside China.

Independent UK Cavendish Research Recognises Epanko's Technical Advantages

The ‘Graphite – The Projects Best Positioned for Value Creation’ report recognised Epanko’s favourable flake size distribution, strong concentrate economics, low operating costs and capital efficiency, while also highlighting EcoGraf’s HFfree® purification technology as a key differentiator. Cavendish ranked Epanko among the projects best positioned for value creation, supported by its ability to supply both industrial and battery material markets and growing demand for secure ex-China graphite supply chains.

Australian Independent Investment Research Report

Independent Investment Research’s Comprehensive Update provides third-party validation of EcoGraf’s vertically integrated graphite strategy, establishing a risked valuation of A$0.55 per share and an unrisked base-case valuation of A$1.59 per share, while highlighting the strength of the Epanko Graphite Project, downstream growth potential and the competitive advantages of the Company’s proprietary HFfree® purification process.