More good news for Powerhouse! Curious as to whether this will be associated with an uplift in the carrying value of Urbix and potentially a PVL NTA uplift.
Urbix secures strategic investment and establishes JDA with leading mining investor Appian Capital, positioning it to become a key graphite supplier to the lithium-ion battery industry October 30, 2023 Highlights
Urbix, Inc. (“Urbix”) is thrilled to announce that it has secured a significant investment from funds managed by Appian Capital Advisory LLP (“Appian”), and also executed a Joint Development Agreement (“JDA”) to advance towards the construction of a commercial scale graphite processing facility utilizing Urbix’s proprietary methods and technologies
Appian’s investment advances Urbix towards demonstration of commercial production, completion of late-stage product validation, and formation of the commercial partnerships that will help to secure the supply chains of leading OEMs and battery manufacturers
Proposed commercial scale facility (“Facility”) would produce coated spherical purified graphite (“CSPG”), the predominant anode material used within the lithium-ion batteries that power electric vehicles, military systems and other applications
JDA secures for Urbix and the Facility a consistent source of high-quality natural graphite concentrate feed from Graphcoa, a Brazilian graphite producer, owned by Appian
Active collaboration allows Urbix to build on its successes to date by leveraging Appian’s deep technical and project management expertise to drive development forward and de-risk the project
This transaction is expected to:
Position Urbix to establish a fully integrated graphite anode material supply chain in the Americas to provide North American battery gigafactories with security of supply
Establish Urbix as the leader in the rapidly growing domestic market for graphite anode material to be used in a variety of applications including EVs, military systems and other industrial electrification applications
Result in the construction of the Facility through the JV, which will utilize Urbix’s proprietary production process that is more cost effective, efficient and environmentally friendly than existing alternatives.
The Facility is intended to be the first of many commercial deploymentsProgress Urbix’ research and development efforts towards the development of innovative battery systems and advanced processing technologies for graphite and other critical minerals
PVL Price at posting:
4.4¢ Sentiment: Buy Disclosure: Held
