4 Apr 2024
Renewable Energy

Idemitsu Australia joins Graphinex register

Wattlestone investment, Graphinex, a large scale privately owned graphite battery anode company which holds a portfolio of exploration tenements near Croydon, in Queensland’s north west minerals province has had an investment from Japan’s Idemitsu Kosan’s Australian subsidiary, Idemitsu Australia.

The investment will accelerate the company’s exploration and development of the flagship Esmeralda graphite project which is on track to become a key supplier of premium coated battery anode material, catering to the rapidly expanding global battery industry.

Mr Steve Kovac, Idemitsu Australia Chief Executive Officer, said “We are excited to invest in Graphinex and support their mission to become a key player in the battery materials sector. 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,” he said.

Mr Art Malone, Graphinex Managing Director said, “This marks a pivotal moment for Graphinex, as Idemitsu’s 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.”

Mr Tom Northcott, Graphinex Chairman said, “We look forward to working with Idemitsu Australia as Graphinex establishes itself as a leading graphite anode manufacturer and graphite producer from its Flagship Esmeralda Project.

Graphite is a key material of lithium-ion batteries, playing a critical role as the primary anode material that enables high conductivity, performance, and charge capacity. 25-28% of a Lithium Ion battery is actually made up of Graphite and in fact there is 15 times more graphite material in a lithium battery than there is lithium. Recent announcements from China banning the export of graphite given concerns about future undersupply as battery manufacturing ramps globally, clearly demonstrate its pivotal function as part of the future of the battery industry.