Energy solutions company Idemitsu Australia has acquired a strategic stake in Graphinex, a private graphite battery anode company.
The investment was made through Idemitsu Graphite, an Idemitsu Australia subsidiary. Through the deal, Idemitsu will join the Graphinex board of directors.
Idemitsu’s stake will help accelerate Graphinex’s exploration and development activities at its flagship Esmeralda graphite project near Croydon in Queensland.
The Esmeralda graphite project aims to become a reliable supplier of premium coated battery anode material for the growing global battery industry.
“We are excited to invest in Graphinex and support their mission to become a key player in the battery materials sector,” Idemitsu Australia chief executive officer Steve Kovac said.
“This investment aligns with our strategic focus on supporting sustainable technologies and diversifying our energy portfolio. The growing demand for critical minerals like graphite continues to advance the global energy transition to an electrification and decarbonisation phase.
“Idemitsu’s strategic investment in Graphinex positions us to meet the demand as the world embraces more advanced sustainable energy solutions.”
Graphinex managing director Art Malone described Idemitsu’s investment as a “pivotal moment” for the company.
“(The) strategic investment and support propels us forward in our journey to supply battery active anode material and spherical graphite to global battery manufacturers, empowering the transition towards cleaner energy solutions worldwide,” Malone said.
Along with other battery minerals such as lithium, cobalt and manganese, graphite is considered a critical mineral in Australia.
Western Australia has made big moves in the graphite space recently.
In February, technology development company Hazer used its methane pyrolysis technology to produce clean hydrogen and graphite in a world-first, and International Graphite commissioned its new graphite micronising plant in Collie, WA.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.
