Kibaran Resources plans to rename itself as EcoGraf Limited
Kibaran Resources (ASX: KNL) plans to rename itself “EcoGraph Limited” after its wholly-owned subsidiary EcoGraph at the upcoming Annual General Meeting on November 29. The name change was intended to send the signal to investors and to future customers that the company wants to stand for the responsible and environmentally friendly production of battery-graphite products, a letter from the board said. The new name should stand for a better visibility of the brand name and highlight the special USPs at first glance.
Managing Director Andrew Spinks recalled that over the past six years, the company has invested $ 25 million to develop two upstream and downstream business models of graphite, first the Epanko mining project in Tanzania and then the EcoGraph cleaning technology. Meanwhile, they have applied for the environmentally friendly cleaning of natural graphite by the EcoGraph technology a corresponding patent. EcoGraph dispenses with the use of hydrofluoric acid when cleaning natural graphite, which is considered to be particularly dangerous. Currently, 100 percent of the natural graphite used in batteries in China is purified by the use of highly toxic hydrofluoric acid. The market volume is estimated to be more than 100,000 tonnes of purified natural graphite per year.