Focused on Driving Long-term Value

EcoGraf is building a sustainable source of battery anode material products critical to the shift towards electrification of mobility and a cleaner world. With ownership of one of the world’s highest grade graphite resources, access to clean renewable energy and a vertically integrated production process, EcoGraf is uniquely positioned to become a major player in the growing green economy.

Outlook and demand

The increase in demand for graphite continues to be driven by the global transition to electric vehicles (EV), which are powered by lithium-ion batteries. Despite a recent slowdown in EV markets, long-term growth forecasts remain strong, with EV sales growing year on year.

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Investor Q&A

On the completion of the updated predevelopment program undertaken we were able to recommence the debt funding program. The progress was dependent on 2 key criteria the signing of the key framework agreement which happened in April 2023 and the updating of the bankable pre-feasibility study. With those two key milestones completed in late April we began the engagement process. The key differentiating factors and advantages of Epanko is that a significant portion of our sales arrangements is with European offtakers and in particular German off takers such as Thyssenkrup. What that opens up is the opportunity to access German government sponsored funding such as the untied loan guarantee scheme. We are currently engaged in a process with KFW and advisors to finalise the debt funding package.
Upstream
• Debt financing program
• Equator Principles 4.0 update and RAP implementation
• End Engineering Design
• Expansion options to 300,000tpa

Midstream
• Finalise site engineering studies on preferred locations
• Offtake arrangements to support development

Downstream
• Product qualification facility successfully commissioned in Perth, WA
• Formalise strategic partnerships for commercial scale production
• Evaluate development options in Europe, North America and Asia

Recycle
• Testwork programs with feedstocks supplied by EV and battery manufacturers
• Collaboration with battery and EV market participants
Solid state batteries are becoming more considered as a future source of energy storage. However we’re increasingly being approached by EV manufacturers in North America, Europe and Asia about securing their supply for Natural Flake Graphite from Tanzania. They would not be doing that as part of their long-term planning unless they felt there was a need for it. In fact there’s increasing buyer anxiety about where that supply in going to come from so we think there is a positive outlook for Natural Flake Graphite.
In terms of our plans, people would recall we had very advanced plans to develop a facility in 2 stages in Western Australia and we were working towards a final investment decision during the latter part of 2022. Following changes in legislation, in North America in particular, with the IRA and MSP, our board decided to defer that FID following strong inbounding enquiries from overseas markets indicating that we need to consider multiple facilities in locations close to the end-user of the product. Since then we have been engaged in discussion with these parties, EV manufacturers, Battery manufacturers and anode manufactures about locations. We’ve run initial scoping studies on potential site locations in North America and European markets, we retained an interest as home-grown Australians to build a facility here in Australia to support markets to the north of us and commissioned our product qualification facility – all key steps in the commercialisation process.
We have appointed Front End Engineering Design consultants who will run the FEED program that will support a final investment decision, that process will seamlessly move into execution on the construction site. We are working to secure the debt financing, and are in discussions with potential parties around the broader funding mix for the development of the project, that is linked to offtakes – discussions are all underway, all of that comes together for a FID. Following that Epanko will require about 18 months of construction, following that will be a commission and operational phase.
Currently at lab scale, we are working with partners including BASF, Sungeel High-tech – one of the largest lithium-ion battery recyclers, MTB in France and we’ve signed a cooperation agreement with POSCO. Following our testwork programs to date, we are focused on product anode scrap and our next stage is a piloting plant with partnership and collaboration with the supply chain to support the circular economy. Supporting our research program is Dr Anna Vanderbruggen at the Helmholtz Institute, who won the EIT Change award in 2022.