I believe it's all the same graphite, more a matter of purity...

I believe it's all the same graphite, more a matter of purity coming out of the reactor and subsequent purification cost.

The paddle tube reactor was built with MIN. It produced up to 96%, or even 97% purity. It ran very slowly - a third of the rate of Hazer's fluidised-bed pilot plant - and produced three times less graphite for the same gas input, although catalyst input was a fraction.

The good news is, for three or four years now, Hazer have said they're able to produce up to 95% purity out of the fluidised-bed reactor. They've indicated there some were learnings from the paddle tube design.

Better yet, they appear to have come up with a cheap and environmentally friendly purification method based on electrolysis. It needs to be scaled up though.

It's exciting to think this is probably just around the corner from fruition. So much has been achieved, despite the very painful holdups, and they're building from a solid basis.