Evion Group NL (ASX:EVG) has signed a collaboration agreement with leading US-based battery anode material (BAM) developer Urbix Inc. to assess the viability of developing a plant to provide BAM for the EV and alternative energy sectors in Europe.
Under the agreement, the two parties will explore potential site options and conduct a comprehensive feasibility study that will assess the financial, technical and logistical aspects of establishing a battery anode material (BAM) plant in Europe.
The graphite concentrate from Evion's Maniry Project in Madagascar would supply feedstock to the plant, providing the market with a substantial portion of its production capacity.
An upcoming feasibility study, in conjunction with the scoping study published by Evion, is expected to further strengthen the commercial viability of constructing a battery anode material manufacturing plant in Europe.
In the US, Urbix is actively developing a plant in Arizona to begin production in 2025 and serve as a template for rapid deployment of additional facilities in the US and Europe supplanting BAM from China.
“Major growth opportunity”
Evion managing director Tom Revy said: “We are delighted to extend our relationship with Urbix into the rapidly growing market for advanced battery anode material.
“Processing graphite from our Maniry project into BAM is a major growth opportunity for Evion given the pivotal role BAM plays in the production of lithium batteries and the EV industry.
“Urbix is a highly experienced and well-regarded player in the BAM industry.
“Evion could not hope for a better partner as it looks to establish itself in this growth industry."
About Urbix
Urbix has developed a superior, sustainable graphite processing technology and its products are in advanced testing and validation stages with major battery manufacturers.
The company recently signed a joint development agreement with battery manufacturer South Korean SK On, a supplier to EV makers such as Ford, Hyundai and Volkswagen.
Urbix chairman and CEO Nico Cuevas said: “This agreement marks a significant milestone in our mission to help power the future of electric mobility.
"The Urbix and Evion partnership is an exciting step forward in our shared goal of developing a plant in Europe to supply the EV sector with sustainable, high-quality battery-grade anode material.
“This expanding partnership will leverage the expertise of both companies to establish a sustainable supply chain for an essential component in the manufacturing of electric vehicles.
“We are elated to be working with Evion and eager to accomplish the possibilities that can be achieved as we work together”.