Join our daily newsletter At The Bell to receive exclusive market insights
- EcoGraf (EGR) has received promising results from a test run of its proprietary carbon purification process
- During a recent testwork program, carbon was recovered at more than 99.95 per cent purity
- The process aims to recover carbon anode material from production waste generated during the manufacture of lithium-ion batteries
- EcoGraf called the results “outstanding”, as the recovered carbon meets the purity levels required for re-use as battery-grade graphite
- EcoGraf is up 12.5 per cent and is trading at 45 cents per share
EcoGraf (EGR) has received promising results from a test run of its proprietary carbon purification process.
The process aims to recover carbon anode material from production waste generated during the manufacture of lithium-ion batteries.
During a recent testwork program, carbon was recovered at more than 99.95 per cent purity. EcoGraf called the results “outstanding”, as the recovered carbon meets the purity levels required for re-use as battery-grade graphite. By recovering the excess carbon, EcoGraf aims to recycle the waste material back into the graphite anode manufacturing process.
Notably, the company’s proprietary process does not require the use of hydrofluoric acid, a toxic chemical common in the other carbon recovery methods.
The push for a more efficient and less toxic manufacturing process is being motivated by new guidelines brought forward by a recent European Union Commission. Under the new legislative changes, battery manufacturers must aim to increase waste recovery to 65 per cent by 2025 and then up to 70 per cent by 2030.
The new legislation is responding to rising concerns about the environmental impact of the booming lithium-ion battery market.
Currently, it is estimated that around 40 per cent of an electric vehicle’s carbon footprint is generated during the manufacturing of its lithium-ion battery.
The positive results bode well for the company, as it continues to develop its 20,000 tonnes per annum battery graphite facility in Western Australia. Toward this end, EcoGraf recently submitted detailed development reports and engineering study information to Export Finance Australia, in the hopes of securing a $45 million debt facility.
EcoGraf is up 12.5 per cent and is trading at 45 cents per share at 2:05 pm AEST.
