Proof of concept will yield test samples for Australian...

Proof of concept will yield test samples for Australian refineries. An engineering firm has already been involved all year in designing the pilot plant in such a way that it can be scaled up. If Australian refineries approve the samples and the engineering firm is confident they can build the large scale $50m plant, then an offtake agreement can be signed. An offtake agreement will make commercial funding and government grant funding possible. Should know within 3 months. According to the May 28 announcement, the NPV of one full scale plant was $208m. But if it works, why would they stop at one?

I was also interested in the following one liner from that last announcement: "Graphite refining to a very high purity for use in high-efficiency batteries will also be tested". Not sure if I've missed that previously or whether that was a first time announcement, but its certainly interesting.