Study Confirms EcoGraf HFfree(TM) Process Cost Advantages

EQS-News: EcoGraf Limited / Key word(s): Study results
Study Confirms EcoGraf HFfree(TM) Process Cost Advantages

11.07.2024 / 12:15 CET/CEST
The issuer is solely responsible for the content of this announcement.

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11 July 2024

Study Confirms EcoGraf HFfree(TM) Process Cost Advantages


EcoGraf Limited (ASX: EGR; FSE: FMK; OTCQB: ECGFF) is pleased to announce
the completion of its comparative independent benchmarking study of the
EcoGraf HFfree(TM) proprietary purification process against alternative
purification process routes for the purification of natural spherical
graphite in manufacturing of lithium-ion battery anode material.

Key findings:

  * Confirms EcoGraf HFfree(TM) purification process comparative advantages for
    the lithium-ion battery market

      * Offers competitive economics compared to the other purification
        methods

      * Minimal hazardous waste production, primarily generating benign or
        inert residues and waste streams

      * Scalable process that is capable of being located within the battery
        manufacturing hubs

  * Commercial development further de-risked through extensive customer
    product qualification and Product Qualification Facility (PQF)

  * New raw material demand for graphite in North America and Europe
    expected to increase significantly from 20261

The benchmarking evaluation program was conducted for the Company by a
global engineering and construction consultancy and involved a rigorous
assessment of industry purification processes, capital and operating costs
and associated risks, located in United States (US).

Study factors, including process design and economic efficiency were used to
assess the feasibility of alternative purification methods and confirmed the
technical and economic advantages of the EcoGraf HFfree(TM) purification
process versus alternative processes. The results of the benchmarking cost
comparison is shown below, per tonne of graphite processed.


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Alternative purification process routes benchmarked included high
temperature chlorination, ultra-high temperature and
hydrofluoric-hydrochloric (HF-HCL).

The capital intensity is based on a production capacity of 25,000tpa which
is the size of that plant design and engineering undertaken by EcoGraf for
its planned initial commercial scale facility. Capital and operating costs
for all purification process have been calculated based on a US location.
Appropriate adjustments to processing parameters were made to ensure an
accurate comparison for each purification process.

The results of the benchmarking study are highly encouraging in confirming
the efficiency of the Company's US patented proprietary purification process
and build on the recent outstanding technical results of EcoGraf HFfree(TM)
proprietary, purification achieving ultra-high purity 4N 99.99% carbon
(refer announcements dated 9 April 2024 EcoGraf Proprietary Purification
Achieves 4N 99.99% Carbon).

The Company is currently completing development of a Product Qualification
Facility ('PQF') to provide lithium-ion battery market customers with larger
quantities of its high-purity, low emission battery anode material product
using the EcoGraf HFfree(TM) processing technology (refer announcement dated 26
March 2024 Product Qualification Facility Commissioning Commenced) and
expects to provide a further progress update shortly as the commissioning is
progressing well.

This announcement is authorised for release by Andrew Spinks, Managing
Director.

For further information, please contact:

INVESTORS

Andrew Spinks

Managing Director

T: +61 8 6424 9002

Note 1 - Based on forecast demand reported by Benchmark Mineral Intelligence
(www.benchmarkminerals.com)

Forward looking statements

Various statements in this announcement constitute statements relating to
intentions, future acts and events. Such statements are generally classified
as "forward looking statements" and involve known and unknown risks,
uncertainties and other important factors that could cause those future
acts, events and circumstances to differ materially from what is presented
or implicitly portrayed herein. The Company gives no assurances that the
anticipated results, performance or achievements expressed or implied in
these forward looking statements will be achieved.

About EcoGraf

EcoGraf is building a vertically integrated battery anode materials business
to produce high purity graphite products for the lithium-ion battery and
advanced manufacturing markets. Over US$30 million has been invested to date
to create a highly attractive graphite mining and mineral processing
business.

In Tanzania, the Company is developing the TanzGraphite natural flake
graphite business, commencing with the Epanko Graphite Project, to provide a
long-term, scalable supply of feedstock for EcoGraf(TM) battery anode material
processing facilities, together with high quality large flake graphite
products for specialised industrial applications.

Using its environmentally superior EcoGraf HFfree(TM) purification technology,
the Company will upgrade the flake graphite to produce 99.95%C high
performance battery anode material to supply electric vehicle, battery and
anode manufacturers in Asia, Europe and North America as the world
transitions to clean, renewable energy.

Battery recycling is critical to improving supply chain sustainability and
the Company's successful application of the EcoGraf(TM) purification process to
recycle battery anode material provides it with a unique ability to support
customers to reduce CO2 emissions and lower battery costs.

Follow EcoGraf on LinkedIn, Twitter, Facebook and YouTube or sign up to the
Company's mailing list for the latest announcements, media releases and
market news.


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