- EcoGraf (EGR) signs a non-binding memorandum of understanding (MoU) with POSCO International
- Under the agreement, the parties will support POSCO’s anode production expansion plans through the supply of EcoGraf’s HFfree battery anode material products
- EcoGraf and POSCO will also evaluate other opportunities for cooperation on product development and battery anode recycling
- The company says it will conduct a global product development program to maximise the economic and sustainability advantages of the EcoGraf purification process
- EcoGraf soared 31.3 per cent, trading at 84 cents at 1:50 pm AEDT
EcoGraf (EGR) has signed a non-binding memorandum of understanding (MoU) with POSCO International.
Under the agreement, the parties will work together to support POSCO’s anode production expansion plans through the supply of EcoGraf’s HFfree battery anode material products.
These will come from the company’s new Australian battery anode material facility, as well as its planned facility in Europe.
The company’s facility in WA is the first of its type globally and is set to export sustainably produced battery anode material products to anode, lithium-ion battery and electric vehicle markets in Asia, Europe and North America.
EcoGraf and POSCO will also evaluate other opportunities for co-operation on product development, battery anode recycling and the development of EcoGraf’s battery anode material business.
Meanwhile, as part of developing the new facility with a zero-waste operating philosophy, EcoGraf said it will conduct a global product development program to maximise the economic and sustainability advantages of the EcoGraf purification process.
The initial focus of these programs is the production of low emission recarburisers for the steel industry, ultra-fine battery conductivity enhancers and high purity fines for lubrication, thermal efficiency and fire-resistant applications.
EcoGraf soared 31.3 per cent, trading at 84 cents per share at 1:50 pm AEDT.