EcoGraf (Australia) has signed a letter of intent (LOI) with GR Engineering Services Limited (GNG) (GR Engineering) for an engineering, procurement and construction contract for the development of a 20,000tpa battery graphite facility in Western Australia.

EcoGraf and GR Engineering expect to enter into a formal contract for the new, state-of-the-art manufacturing facility. The parties have been working to complete pre-development activities for the project and the Company is finalising its arrangements with the Western Australian Government’s land development agency over aproposed6.7ha site in Kwinana

The project’s forecast economic contribution to Western Australia is significant on both an economic and strategic front, directly employingmore than 250 workers during constructionand supporting Government plans to position Australia as aglobal leader in the environmentally, ethically and socially responsible manufactureof battery materials.Global demand for battery graphite is expected to increase by over 700% as significant investment continuesin Europe to transition towards clean renewable energy for vehicle and industrial applications.

The Company has received strong interest from prospective customers and is making excellent progress towards product sales and offtakes.