In what could be a major inflection point for Evion Group NL (ASX:EVG, OTC:EVIGF), the company has secured official designation of its Maniry Graphite Project in Madagascar as a Strategic Project under the European Union’s (EU) Critical Raw Materials Act. This recognition enhances Evion’s access to EU funding, accelerates permitting processes and positions it as a preferred supplier of natural graphite for Europe’s energy transition.
The Maniry Project is the only project in Madagascar to receive this status, validating its significance in the EU’s battery and clean energy supply chain. Evion expects this designation to unlock engagement with preferred offtake partners and facilitate upcoming meetings with EU officials to progress funding and development plans.
Maniry Project location in Madagascar.
“This recognition by the European Union marks a transformative milestone for Evion and our flagship Maniry Graphite Project. To be the only project in Madagascar granted Strategic Project status under the Critical Raw Materials Act is both an honour and a validation of the quality, scale, and importance of Maniry,” Evion managing director David Round said.
Round added the company is now focused on securing offtake agreements, advancing finance discussions, and finalising permits to progress to development.
European recognition strengthens project economics
The EU designation was granted by the Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW).
Under the Critical Raw Materials Act, the Strategic Project status provides several advantages including faster regulatory approvals, improved financing options via dedicated EU taskforces, and greater visibility to potential investors and offtake partners.
The designation reflects Maniry’s importance in supplying critical materials to support Europe’s decarbonisation goals.
Evion will soon meet with EU officials to outline development timelines and funding structures, supported by the recent EU-funded Kiembe Boulevard infrastructure upgrade.
This transport corridor connects the Toliara Port to the airport, aligning with Evion’s export strategy. Meanwhile, the company remains in active discussions with Madagascar’s Mines Ministry and expects mining licences and environmental permits to be granted in the short term.
Maniry and beyond: scaling global graphite supply
Evion’s vertically integrated strategy includes not only development at Maniry but also downstream processing in Germany and India.
The Maniry Project is backed by a 2022 Definitive Feasibility Study showing potential to produce 60,000 kilotonnes of graphite concentrate annually over 21 years, with a pre-tax net present value of US$263 million.
The company is advancing plans to supply fine flake graphite from Maniry to its Battery Anode Material Project in Germany, which aims to produce up to 30,000 tonnes per year. Evion has confirmed that all material assumptions supporting the Maniry production target and associated financial forecasts remain valid and unchanged.
Evion holds a 50:50 joint venture interest in Panthera Graphite Technologies alongside Metachem Manufacturing Co, a well-established expandable graphite producer based near Pune, India. The Panthera facility is situated within a Special Economic Zone, benefiting from proximity to major transport infrastructure. Commercial operations began in the fourth quarter of 2024, with the venture completing its first shipment in March 2025.