Graphex Technologies Announces New Offtake Agreement With Syrah Resources for High Quality Natural Flake Graphite From Their Balama Graphite Operation
Agreement represents an important new stream of mine-to-battery supply of significant volume of graphite anode material for EV batteries
Further advances Graphex’s strategy to access diverse upstream sources of quality raw material, process domestically, and deploy into North American markets
Demand for EVs continues to rise with recent reports which forecast that more than 14 million EV’s will be sold by the end of 2023 alone – a
Syrah’s Balama graphite operation is the largest natural graphite operation outside of
“This agreement with Syrah could change the graphite game in North America,” said John DeMaio, Chief Executive Officer of Graphex Technologies. “Connecting Syrah’s volume with our proven experience and ongoing build-out of domestic processing capacity in
"Graphex is a well-respected mid-stream processor of graphite anode material for Li-ion batteries," said Shaun Verner, Managing Director and Chief Executive Officer of Syrah. "We look forward to working together as part of Graphex's supply chain to help meet the rapidly growing demand for graphite anode material in
Graphex plans to process the graphite acquired from the Balama graphite operation at the Company's future North American facilities, potentially including its
The agreement with Syrah adds to Graphex’s growing list of planned offtake relationships and potential partnerships, which also includes graphite assets in
To learn more about Graphex Technologies, please visit www.graphexgroup.com.
About Graphex
Graphex is a multinational technology company focused on the development of technologies and products to enhance renewable energy, particularly the refining of natural spherical graphite, synthetic graphite, and graphene-related products - key components in EVs/Lithium-ion batteries as well as in other uses. Graphex has extensive commercial experience in the deep processing of graphite and producing battery grade graphite anode material. Current production is 10,000 tonnes per annum (tpa) with a current expansion underway to increase production to 30,000 tpa within the next 12 months. Graphex intends to further expand existing operations to 55,000 tpa over the next three years. Graphex is currently among the top suppliers of specialized graphite anode material to the EV and renewable energy industries and holds patents in areas including products, production methods, machinery design, and environmental protection. Graphex’s strategy is to expand its operations globally to support energy transition and electrification efforts worldwide.
Forward Looking Statements
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