Technology Metals Report (03.22.2024): US pledges $1.28B for ASX...

Technology Metals Report (03.22.2024): US pledges $1.28B for ASX rare earths stocks and Biden takes a major step in tackling climate change
March 22, 2024

Excerpt:
”Startup Offers EV Firms Greener Graphite in Alternative to China (March 18, 2024, Source) — Graphjet Technology, an alternative energy startup in Malaysia, is offering electric-vehicle (EV) manufacturers a sustainable source of graphite by converting agricultural waste into this critical battery component. Utilizing palm kernels, the company can produce graphite with an 83% lower carbon footprint and at 80% less cost than traditional methods. Starting in the second quarter, Graphjet aims for an annual production capacity of 3,000 tons from its facility in Malaysia, a leading palm oil producer. This move provides a significant alternative to China’s dominance in the synthetic graphite market, responsible for 90% of the global supply. The U.S. is keen on diversifying its EV battery supply chain away from Chinese control, especially in light of China’s recent export restrictions on graphite. Graphjet’s initiative is timely, as it plans expansions in Nevada, Korea, Japan, and Europe, aiming to address the growing global demand and the U.S.’s need for a reliable graphite source outside China.”

https://investornews.com/critical-minerals-rare-earths/technology-metals-report-03-22-2024-us-pledges-1-28b-for-asx-rare-earths-stocks-and-biden-takes-a-major-step-in-tackling-climate-change/

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