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EcoGraf higher after securing 10-year battery graphite products offtake deal with thyssenkrupp

thyssenkrupp Materials Trading is one of the world’s leading commodity trading companies and generated sales of around €42 billion in the last financial year

EcoGraf Ltd - EcoGraf executes non-binding agreement with thyssenkrupp Materials Trading GmbH for the sale of battery graphite products
The agreement is for the sale of purified spherical graphite battery anode material and a fines by-product

EcoGraf Ltd (ASX:EGR) has executed a non-binding agreement with thyssenkrupp Materials Trading GmbH for the sale of battery graphite products from its planned Kwinana Facility in Western Australia.

The agreement is for the sale of purified spherical graphite (SpG) battery anode material and by-product (fines).

thyssenkrupp Materials Trading GmbH is a subsidiary of thyssenkrupp AG, a technology global group headquartered in Germany with around 160,000 employees in nearly 80 countries.

Shares higher

Shares have been as much as 32% higher on the news to 8.6 cents intra-day, more than double the close of 3 cents on April 2.

EcoGraf managing director Andrew Spinks said: “The signing of the agreement involving the sale of value-added battery mineral products is a milestone event for our company and supports recent Federal and State government initiatives to encourage battery manufacturing in Australia.”

“The agreement represents a significant step forward in our efforts to secure funding for the new Kwinana facility and confirms the increasing demand by customers for environmentally responsible graphite purification.”

Key terms

Phased sales volumes:

  • Year 1: 2,310 tonnes of SpG and 2,310 tonnes of fines;
  • Year 2: 3,600 tonnes of SpG and 3,600 tonnes of fines; and
  • Year 3 onwards: 10,020 tonnes of SpG and 10,020 tonnes of fines.

thyssenkrupp Materials Trading’s product range includes raw materials such as alloys, nonferrous metals, minerals, coke, coal and ores, metallurgical products such as steel and pipes, pipe accessories, finished steel and stainless steel, as well as new and used industrial equipment.

The range is rounded out by tailored offers including financing and shipment.

Quick facts: EcoGraf Ltd

Price: 0.068 AUD

ASX:EGR
Market: ASX
Market Cap: $24.75 m
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