24 Nov

Innovative Lithium-ion Battery Coating Program Commence

2 4 NOVE MBER 20 2 1 EcoGraf Limited 18 Richardson Street West Perth WA 6005 ABN: 15 117 330 757 E: info@ecograf.com.au www.ecograf.com.au Managing Director Andrew Spinks T: +61 8 6424 9002 ASX: EGR Innovative Lithium - i on 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. T he innovative technical program is being undertaken in a leading US commercial battery material research facility using EcoGraf’s spherical graphite ( S P G ) and FYI’s high purity nano particle HPA material . The program will provide comparative assessment o f 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 a ctive a node m aterial (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 B enchmark M ineral I ntelligence 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 . E N G I N E E R E D F O R P E R F O R M A N C E 2 The development of value - added battery material s i s consistent with the Federal Governments critical and battery ‘ m odern m anufacturing strategy ’ and Western Australia’s ‘f uture b attery industry s trategy ’ . T he e conomic impact of developing active anode material in Australia is significant . The i ndirect economic benefits from battery material manufacturing is estimated to be 3 times higher than goods sold at all stages of the value chain (refer figure 1 ) . 1 Figure a fter 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 . Enhanced HPA Anode Coatings Program The technical program will commence with c haracterisation of key properties of EcoGraf’s purified SPG and FYI’s nano HPA powder as raw material s for the active anode material in l i thium - i on b attery system . This will be used to f ormulate and prepare solvent - compatible dispersion of HPA nano powders of various particle sizes to be applied as ultra - thin HPA onto the pitch coated SPG as enhanced active anode material . The pitch coated S P G and enhanced HPA doped coated SPG will be applied to copper substrates to create a negative electrode for incorporation into CR2016 coin cells for e lectrochemical performance and cycling tests. The program is expected to take 3 months and the program includes scope to perform long - term cycling of the best formulation of coated anode in both half - cell and full cells (100 cycles) . This announcement is authorised for release by Board of EcoGraf Limited . For further information, please contact: INVESTORS Andrew Spinks Managing Director T: +61 8 6424 9002 ENGINEERING CLEAN ENERGY . 3 About EcoGraf EcoGraf is building a diversified battery anode material 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 two highly attractive, development ready graphite businesses. The first new state - of - the - art EcoGraf processing facility in Western Australia will manufacture spherical graphite products for export to Asia, Europe and North America using a superior, environmentally responsible HF free purification technology to provide customers with sustainably produced high performance battery anode material. Subsequently, the battery graphite production base will be expanded to include additional processing facilities in Europe and North America to support the global transition to clean, renewable energy in the coming decade and the rapid growth in battery materials. In addition, the Company’s breakthrough recovery of carbon anode material from recycled batteries using its EcoGraf TM process will enab le the recycling industry to reduce battery waste and use recycled carbon anode material to improve battery lifecycle efficiency. To complement these battery graphite operations, the Company is also advancing the TanzGraphite natural flake graphite business, with development of the Epanko Graphite Project, which will supply additional feedstock for the battery anode material facilities and provide customers with a long term supply of high quality graphite products for industrial applications such as refractories, recarburisers and lubricants. A video fly - through of this new facility is available online at the following link: https://www.ecograf.com.au/#home - video Follow EcoGraf on LinkedIn, Twitter or sign up to the Company’s newsletter for the latest announcements, media releases and market news. SUBSCRIBE TO STAY UPDATED z

More from EcoGraf Limited

Join Listcorp to create a personalised news feed, follow your favourite companies, save useful news, and more.

By joining Listcorp you agree to our Terms & Conditions and Privacy Policy

Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from EcoGraf Limited (ASX:EGR) when you join Listcorp.