EcoGraf has received a research and development tax incentive of AU$1.7 million for the development of its HFfree purification technology.
The company said it received the tax incentive from the Australian Taxation Office in relation to eligible research and development costs incurred in its development of its proprietary purification technology during the fiscal year ended June 30, 2025.
The technology will allow the company to upgrade spherical graphite to produce high performance battery anode material to supply electric vehicle, battery and anode manufacturers in Asia, Europe and North America.
In addition, the application of the purification process to recycle battery anode material provides it with a unique ability to support customers to reduce carbon emissions and lower battery costs.
The funds boost the company’s cash position as it continues to develop its vertically integrated graphite business.
The business aims to produce high purity graphite products for the lithium-ion battery and advanced manufacturing markets.
Over US$30 million have been invested in the business, which includes a graphite mine and mechanical shaping facility in Tanzania.
EcoGraf is developing the TanzGraphite natural flake graphite business in Tanzania to provide a long-term, scalable supply of feedstock for its battery anode material processing facilities.
EcoGraf has also submitted proposals for a grant of approximately €4 million from European governments.
The funding would assist with technical development of its Tanzanian upstream and midstream activities, as well as its proposed downstream development in Europe.
