FYI Resources Ltd (ASX:FYI) is teaming up with fellow ASX-lister EcoGraf Ltd (ASX:EGR, OTCQX:ECGFF) to create a better kind of battery coating — one that enhances performance with high-purity alumina (HPA).
In a new technical program, both companies will look at ways to innovate common batteries — known as coin cells — by coating Ecograf’s spherical graphite (SPG) layer with FYI’s high-quality, nanoparticle HPA.
A leading commercial battery material research facility in the US will host the study, which will see both parties work together to develop the innovative material over three months.
Ultimately, HPA-coated anode material is considered a major active anode material (AAM), and it’s often used in lithium-ion anode cell manufacturing.
As the global energy revolution comes to the fore, it means the material could one day add significant value to both FYI and EcoGraf’s Australian portfolios.
What’s the market like?
With the race to develop better batteries now on, innovative technology is attracting a pretty penny.
According to Benchmark Minerals Intelligence, coated anode material currently fetches between US$6,000 and US$10,000 per tonne.
What’s more, demand for this battery material is forecast to spike a staggering 30% per annum as global industries trend towards low-carbon emission technologies.
Here in Australia, the Federal Government is pushing for more value-added battery materials with its $1.3 billion Modern Manufacturing Initiative.
And on the west coast, the Future Battery Industry Strategy is out to grow Western Australia into a leading exporter of battery minerals, materials and technologies.
As two West Aussie companies, FYI and EcoGraf are primed to take advantage of the initiatives and believe the economic impact of developing AAM in Australia could be significant.
In fact, the indirect economic benefits from battery material manufacturing in Australia is estimated to be three times higher than goods sold at all stages of the value chain.
Critical Energy Metals’ mission lead Dr Jerad Ford recently outlined the future vision and value multiplier of battery cell manufacturing’s benefit to Australia.