EcoGraf Ltd (ASX:EGR) (FRA:FMK) has received the Australian Government’s approval for the Major Project Status (MPS) for its Battery Anode Material Facility in Western Australia.
Major Project Status recognises the importance of the development, which supports the Australian Government’s critical minerals strategy and Western Australia’s future battery industry strategy.
While approving this status, the Minister for Industry, Science and Technology Karen Andrews MP has recognised the opportunity for the Battery Anode Material Facility to contribute to the growth of the critical minerals industry in Australia and that its planned investment in downstream critical minerals processing has the potential to encourage further project developments.
Support from the Australian Government
EcoGraf’s managing director Andrew Spinks said: “We are delighted to receive this support from the Australian Government as our development is positioned as an integral part of the downstream modern manufacturing of battery and critical minerals in Australia.
“EcoGraf’s development strongly aligns with recent legislative policy changes in Europe that require higher standards of environmental and social governance (ESG) in battery supply chains.
“Unprecedented investment is currently underway to establish a self-sufficient and sustainable battery manufacturing supply chains to support the electric vehicle industry.”
Recently, the company has raised $54.5 million from a number of significant institutional investors, which will allow it to complete the construction and commissioning of commercial operations at its first facility in Western Australia.