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Ecograf (ASX:EGR) - Managing Director, Andrew Spinks - The Market Herald
Managing Director, Andrew Spinks
Sourced: Business News
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  • Export Finance Australia has confirmed it will consider supplying a loan to EcoGraf (EGR) for its new US$72 million development
  • The financier provides funding solutions to emerging companies to help them achieve export success
  • EcoGraf's Kwinana facility will provide high quality, purified spherical graphite for the lithium-ion battery market
  • However, before the graphite can be exported it first must be shaped, screened, dried and purified
  • The company is now looking to build additional facilities in Europe and North America
  • EcoGraf has skyrocketed 47.8 per cent with shares trading for 6.8 cents

Export Finance Australia has confirmed that it will consider supplying a loan to EcoGraf (EGR) for its new US$72 million development.

Operating under the Australian Government Department of Foreign Affairs and Trade, Export Finance Australia provides financing solutions for companies to grow internationally and achieve export success.

EcoGraf will work with Export Finance to undertake the necessary commercial and technical due diligence to support the potential debt financing arrangements.

A detailed financial model has been prepared for the Kwinana plant, which incorporates proposed terms for a US$35 million loan.

Pre-development activities for the project are progressing on schedule, and EcoGraf is finalising arrangements with the Western Australian Government's land development agency.

A letter of intent has been signed with GR Engineering Services for the construction, operation and maintenance of the Kwinana plant and both parties are preparing final contract documentation.

EcoGraf's Kwinana processing plant will be the first of its kind to be constructed outside of China. It will provide a new supply of high quality, purified spherical graphite for the lithium-ion battery market.

The plant takes flake graphite straight from the source and then shapes it mechanically, screens and bags it, dries it, and then purifies it.

These products will then be exported to Asia, Europe and North America and, in time, the battery graphite production base will be expanded to include additional facilities in Europe and North America.

The company's unique and environmentally friendly graphite purification has attracted strong interest from electric vehicle and lithium-ion battery manufacturers who are looking to improve the sustainability of battery mineral supply chains.

Sourced: EcoGraf

EcoGraf has already received interest from major companies such as Samsung, Volkswagen and LG.

The company's share price has skyrocketed 47.8 per cent today and shares are trading for 6.8 cents each at 12:12 pm AEDT.

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