Australia's EcoGraf inks new deal with VinES

On October 9, the Australia-based integrated battery anode materials developer EcoGraf announced that it has entered into a non-binding MoU with VinES.

VinES is a member of Vingroup, the largest private conglomerate in Vietnam, along with Vinfast, a global electric vehicle producer. VinES operates lithium-ion gigafactory plants in Vietnam.

Under the agreement, EcoGraf will support VinES with its graphite expertise and US patented battery anode material processing technology while VinES will provide its battery materials supply chain logistics, in-country expertise, manufacturing and construction capability in Vietnam.

The agreement provides for a phased evaluation initiative under which VinES and EcoGraf will initially assess and qualify local Vietnam graphite suppliers, with a view to incorporating domestic production into the supply chain.

Following the initial evaluation, a feasibility study will be undertaken on a proposed BAM facility development that includes regulatory approvals and key project agreements for feedstock supply, construction, operations, logistics, offtake, investment and financing to enable the parties to make a final decision.

If positive, the parties will enter into commercial arrangements for development, construction and operation of the new BAM facility.

Andrew Spinks, managing director of EcoGraf said, “Our team is excited by the opportunity as Vietnam has excellent potential to host an integrated anode materials supply chain and be a regional hub for anode material manufacturing. Our previous feasibility work on Vietnam indicated very competitive cost structures, high environmental, social, and governance (ESG) credentials and attractive investment policies."

"We are delighted to be partnering with VinES, a leading lithium-ion battery maker in Vietnam who shares our vision and values. More importantly, our businesses are highly complementary, and our cooperation should allow both parties to strengthen our position in the electric vehicle battery material supply chain. We look forward to working with VinES to develop a highly cost competitive operation with compelling ESG credentials in Vietnam.”

Additionally, EcoGraf will evaluate the potential to combine a localised graphite material supply in Vietnam with future feedstock from its Epanko Graphite Project in Tanzania. The ability to incorporate local BAM feedstock offers numerous advantages through lower production and transport costs. The potential also exists to combine the company’s Epanko graphite with the Vietnam material to develop a scalable localised supply chain.

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