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The latest announcement is out from EcoGraf ( (AU:EGR) ).
EcoGraf Limited has received positive feedback from the U.S. Department of Defense for its white paper submission seeking up to US$76.3 million in funding to establish a purification facility in the U.S. This facility will use EcoGraf’s patented HFfree® purification technology to produce advanced graphite and anode materials. The proposal aligns with a U.S. Executive Order to boost domestic production of critical minerals and has received support from a major battery manufacturer. The feedback validates EcoGraf’s strategy to expand its purification facilities globally, enhancing its industry positioning and offering potential benefits to stakeholders by increasing domestic production capabilities.
More about EcoGraf
EcoGraf Limited is a company focused on building a vertically integrated battery anode materials business to produce high purity graphite products for the lithium-ion battery and advanced manufacturing markets. The company has invested over US$30 million in projects including the Epanko Graphite Mine and a Mechanical Shaping Facility in Tanzania, as well as EcoGraf HFfree® Purification Facilities near electric vehicle, battery, and anode manufacturers. EcoGraf’s technology supports battery anode recycling, aiming to improve supply chain sustainability by reducing CO2 emissions and lowering battery costs.
YTD Price Performance: 263.64%
Average Trading Volume: 315,715
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$145.3M
For a thorough assessment of EGR stock, go to TipRanks’ Stock Analysis page.