- EcoGraf (ASX:EGR) enters a non-binding MoU with Vietnam-based lithium-ion battery manufacturing company, VinES
- VinES operates lithium-ion gigafactory plants in Vietnam, and the agreement supports a VinES expansion plan into the US market
- The agreement will see both parties collaborate to undertake a feasibility study to evaluate the development of a BAM facility in Vietnam using EGR’s technology
- EcoGraf will offer graphite expertise and US-patented battery anode material processing technology to support the process
- EGR shares last traded at 12 cents
EcoGraf (ASX:EGR) has entered into a non-binding memorandum of understanding (MoU) with lithium-ion battery manufacturing company VinES.
VinES is part of VinGroup, the largest private conglomerate in Vietnam, along with Vinfast, a global electric vehicle producer.
VinES operates lithium-ion gigafactory plants in Vietnam, and this MoU presents an opportunity for EcoGraf to support VinES in its expansion plan into the US market.
Under the agreement, EcoGraf will provide graphite expertise and US-patented battery anode material processing technology, while VinES will contribute battery materials supply chain logistics, in-country expertise, manufacturing, and construction capabilities in Vietnam.
The agreement will see both parties collaborate to undertake a feasibility study to evaluate the development of a battery anode material (BAM) facility in Vietnam using EGR’s technology.
“Our team is excited by the opportunity. as Vietnam has excellent potential to host an integrated anode materials supply chain and be a regional hub for anode material manufacturing,” EGR Managing Director Andrew Spinks said.
“…our businesses are highly complementary and our cooperation should allow both parties to strengthen our position in the electric vehicle battery material supply chain, we look forward to working with VinES to develop a highly cost-competitive operation with compelling ESG credentials in Vietnam.”
Additionally, EGR is making progress with its Epanko graphite project in Tanzania, including the completion of a mechanical shaping study aimed at producing unpurified battery anode material for the lithium-ion battery market.
The company intends to combine a local graphite material supply in Vietnam with future feedstock from its Epanko graphite project.
EGR shares last traded at 12 cents.