PRESS RELEASE : STRONG EUROPEAN GROWTH, COMBINED WITH NEW EU LEGISLATION ON BATTERIES, POSITIONS ECOGRAF'S VERTICALLY INTEGRATED DEVELOPMENTS

 
 DGAP-News: EcoGraf Limited / Key word(s): Miscellaneous 
STRONG EUROPEAN GROWTH, COMBINED WITH NEW EU LEGISLATION ON BATTERIES, 
POSITIONS ECOGRAF'S VERTICALLY INTEGRATED DEVELOPMENTS 
 
2020-12-23 / 19:44 
The issuer is solely responsible for the content of this announcement. 
 
*23 DECEMBER 2020 * 
 
*Business Development Update * 
 
*STRONG EUROPEAN GROWTH, COMBINED WITH NEW EU LEGISLATION ON BATTERIES, 
POSITIONS ECOGRAF'S VERTICALLY INTEGRATED DEVELOPMENTS * 
 
*EcoGraf Limited *(*EcoGraf *or the *Company*) (ASX: EGR) is pleased to 
provide the following update. 
 
*Battery Graphite Manufacturing Facility * 
 
The Company is making encouraging progress in relation to securing approvals 
for a US$35 million debt funding arrangement for the new Kwinana 
development. The Development Report, Independent Market Study, updated 
financial model, feasibility and engineering studies have been provided for 
lender analysis and the Company is working with the lenders through the 
approval process. 
In parallel, work is being undertaken to finalise the EPC contract, 
feedstock supply contract, operations and maintenance arrangements and the 
early works program that will facilitate commencement of the detailed 
engineering design works. 
The Company also remains confident of finalising further sales and offtake 
arrangements as discussions advance with existing customers in Europe and 
Asia. 
The proposed 20,000 tonne per annum facility will manufacture battery anode 
products for export to Asia, Europe and North America using a superior, 
environmentally responsible purification technology to provide customers 
with sustainably produced, high performance battery anode graphite. 
 
*EcoGrafTM Recycling * 
The Company is making encouraging progress as recycling test work continues 
with customers which includes leading electric vehicle and battery 
manufacturers 
A proposal is being finalised to undertake engineering design works for a 
containerised pilot plant supported by the recent positive results of up to 
99.8% carbon achieved during testing with potential European customers on 
the recovery of high purity carbon anode material from battery black mass. 
On the basis achieving 99.9% for carbon anode material, which appears 
realistic given the results achieved to date, the blend required to meet the 
critical 99.95% C grade specification used by cell manufacturers would be 
two parts battery spherical graphite to one part recycled black mass carbon 
anode material. 
*EcoGraf blended carbon anode material provides a unique recycled product 
consistent with the recent legislation changes by the EU for greater 
recycling. **2 * 
 
*Epanko Mine Development * 
The Company continues to progress the senior debt financing of the new 
Epanko graphite mine and following positive feedback from a presentation of 
the KfW IPEX-Bank debt financing proposal to the Tanzanian Government in 
August, Government due diligence processes have commenced with a view to 
preparing an internal submission for formal approval. 
The US$60m debt financing proposal accommodates the Government's 
requirements under the new mineral sector legislation and provides an 
opportunity for Tanzania to develop a world class graphite mine in the 
Ulanga District, Morogoro Region that will operate under globally leading 
Equator Principles for social and environmental planning, including 
International Finance Corporation Performance Standards and World Bank Group 
Environmental, Health and Safety Guidelines. 
Mr Andrew Spinks stated "Although the year has been challenged by the major 
disruptions caused by Covid19, the Company has made significant progress 
advancing the debt financing for both developments, while introducing a 
third pillar of value through the innovation of utilising the Company's 
purification process to recover carbon anode material. Our management team 
is working hard to secure a combined debt financing of US$95m which will 
transform the Company's prospects." 
"The value proposition of our recycling strategy, combined with the 
vertically integrated business developments using the Company's proprietary 
purification process is significant and more importantly matches the new EU 
legislative changes." 
The board and management would like to take the opportunity to wish all 
shareholders a safe Christmas and looks forward to advancing the Company's 
development in the New Year. 
This announcement is authorised for release by Andrew Spinks, Managing 
Director. 
 
*For further information, please contact: * 
*INVESTORS * 
*Andrew Spinks * 
Managing Director 
*T: [phone] * 
 
ENGINEERING CLEAN ENERGY 
 
*About EcoGraf * 
Founded on a commitment to innovation and sustainability, EcoGraf is 
building a vertically integrated business to produce high purity graphite 
for the lithium-ion battery market. 
The new state-of-the-art processing facility in Western Australia will 
manufacture spherical graphite products for export to Asia, Europe and North 
America using a superior, environmentally responsible purification 
technology to provide customers with sustainably produced, high performance 
battery anode graphite. In time the battery graphite production base will be 
expanded to include additional facilities in Europe and North America to 
support the global transition to clean, renewable energy in the coming 
decade. 
In addition, the Company's breakthrough recovery of graphite from recycled 
batteries using its EcoGrafTM process will enable the recycling industry to 
reduce battery waste and use recycled graphite to improve battery lifecycle 
efficiency. 
To complement the battery graphite operations, EcoGraf is also developing 
the TanzGraphite natural flake graphite business, commencing with the Epanko 
Graphite Project, which will supply additional feedstock for the spherical 
graphite processing facilities and provide customers with a long term supply 
of high quality graphite products for industrial applications such as 
refractories, recarburisers and lubricants. 
EcoGraf, a unique vertically integrated graphite business, positioned for 
the future of clean energy. 
 
2020-12-23 Dissemination of a Corporate News, transmitted by DGAP - a 
service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
The DGAP Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
1157316 2020-12-23 
 
 

(END) Dow Jones Newswires

December 23, 2020 13:44 ET (18:44 GMT)