DGAP-News

EcoGraf Limited: Innovative Lithium-ion Battery Coatings Program Commenced

DGAP-News: EcoGraf Limited / Key word(s): Miscellaneous EcoGraf Limited: Innovative Lithium-ion Battery Coatings Program Commenced 24.11.2021 / 12:10 The issuer is solely responsible for the content of this announcement. Innovative Lithium-ion Battery Coatings Program Commenced

SIGNIFICANT MARKET OPPORTUNITY IN BATTERY MARKET

Diversified battery anode materials company EcoGraf Limited (EcoGraf or the Company) (ASX: EGR; FSE: FMK; OTCQX: ECGFF) is pleased to announce with FYI Resources Limited (ASX: FYI) its program to develop an enhanced High Purity Alumina (HPA) anode coatings material with EcoGraf high density battery anode material.

The aim of the program is to develop an enhanced coatings material that will improve battery performance. The innovative technical program is being undertaken in a leading US commercial battery material research facility using EcoGraf's spherical graphite (SPG) and FYI's high purity nanoparticle HPA material.

The program will provide comparative assessment of the electrochemical performances against industry standard coated SPG with EcoGraf coated SPG and enhanced HPA coated SPG in CR2016 coin cells.

The coated anode material is a major active anode material (AAM) used in Lithium-ion anode cell manufacturing and is a significant value addition that is complementary for both companies' developments in Australia.

The sales price reported by Benchmark Mineral Intelligence for coated anode (subject to the specification) ranges between US$6,000 to US $10,000 per tonne, with demand forecast to increase 30%pa driven by the transition to low carbon emission technologies.

The development of value-added battery materials is consistent with the Federal Governments critical and battery 'modern manufacturing strategy' and Western Australia's 'future battery industry strategy'.

The economic impact of developing active anode material in Australia is significant. The indirect economic benefits from battery material manufacturing is estimated to be 3 times higher than goods sold at all stages of the value chain (refer figure¹).

¹Figure after CSIRO. Dr Jerad Ford, Mission Lead, Critical Energy Metals recent webinar outlying the future vision and value multiplier of battery cell manufacturing benefit to Australia.