Significant news just out from Urbix (see below).
I suspect this helps explain why the Powerhouse share price has been so strong over the past month... in addition to the excellent progress of Skykraft launching Australia's largest satellite constellation... and the ASX news of impending NTA uplift...
Impressive progress here, a joint development agreement with SK positions Urbix as a potential major player in the EV (graphite) supply chain.
https://eng.sk.com/news/sk-on-to-work-with-u-s-graphite-processor-to-develop-anode-materials. Great work from Urbix and from the Powerhouse team, who are supporting both with capital and also via advisory capability.SK On to Work with U.S. Graphite Processor to Develop Anode Materials
- Joint Development Agreement with Urbix aims to make anode materials tailored for SK On batteries
- SK On seeks to gain foothold in U.S. anode material supply chain amid diversification efforts
SEOUL, South Korea -- SK On, a leading electric vehicle (EV) battery manufacturer, announced today it has signed a joint development agreement (JDA) with U.S. graphite processor Urbix Inc., a move that could help it establish a foothold in the U.S. anode material supply chain following the enactment of the Inflation Reduction Act (IRA).
Under the agreement, the two companies will work together to develop environmentally responsible, high-performance anode materials customized for SK On batteries. Upon the successful development of customized anode products under the JDA, SK On will consider sourcing Urbix’s anode materials for its U.S. battery manufacturing facilities.
Urbix employees monitor graphite processing systems at the company’s pilot facility in Arizona.
Established in 2014, Urbix is an American materials producer that specializes in processing natural graphite for battery anodes with environmentally responsible solutions. Based in Mesa, Arizona, Urbix is completing construction and commissioning of its commercial scale demonstration plant with 1,000-ton/ yr capacity and it plans to expand its production capacity to 28,500 tons/yr by 2025.
Anode is one of the four main components for lithium-ion batteries along with cathode, electrolyte and separator. It determines the battery life, charging speed and energy density. Currently, graphite is the dominating anode material in commercial lithium-ion batteries.
The JDA opens a possibility of adding diversity when it comes to the sourcing of anode materials. According to last year’s International Energy Agency (IEA) report, China accounted for 85 percent of global production capacity for anodes.
An Urbix employee works in the laboratory at the company’s pilot facility in Arizona for graphite processing.
Should the partnership with Urbix extend successfully, SK On can also pave the way for establishing an anode supply chain in North America, while positioning itself to take advantage of provisions within the IRA.
SK On has been steadily reinforcing its supply chain for key battery materials. For a stable supply of lithium, a key material for cathodes, SK On inked deals with Chile’s SQM and Australia’s Lake Resources and Global Lithium Resources last year.
For SK On, the partnership is also expected to beef up its competitiveness as a leading sustainable battery manufacturer, as Urbix processes graphite with innovative environmentally responsible methods. Urbix is renowned for recycling 70 percent chemicals without using hydrofluoric acid and hydrogen chloride in the refining process.
“This agreement is meaningful in increasing the possibility of securing eco-friendly and high-performance anode active materials for use in SK On’s U.S. plants,” said Sun Heeyoung, SK On Vice President in charge of advanced research. “SK On will continue to work to develop anode materials that can maximize battery performance.”
“Working with such a renowned battery manufacturer means that we can accelerate our production efforts, and more effectively address the supply of graphite,” said Nico Cuevas, CEO of Urbix. “By utilizing Urbix’s innovative technologies, we can shift more of the refinement and production of battery-grade graphite to the U.S., a mission we remain committed to.”
About SK On
SK On is a global leading electric vehicle (EV) battery developer, manufacturer, and solutions provider whose mission is to make our world a cleaner and more convenient place as an electrification linchpin.
SK On was launched as an independent company in October 2021 after SK Innovation, South Korea’s largest energy company, decided to split off its battery business unit. SK On aims to become a world leader in the clean energy industry by leveraging its global production base and R&D capabilities, as well as its production and quality management know-how.
Headquartered in Seoul, South Korea, SK On has a worldwide presence with battery plants currently operating or in construction across the United States, Europe, and Asia.
About Urbix
Urbix is creating radical change in the way natural graphite for battery anodes is refined and commercialized. The company has pioneered a proprietary process that produces high quality CSPG (coated spherical purified graphite) for electric vehicles at a fraction of the cost, energy, time, and space compared to its competitors.
Urbix’s modular facilities can be located within a small footprint anywhere in the world and in response to demand; helping automakers to remain competitive in the race for electrification. With a portfolio of proven technology, Urbix is scaling rapidly and aiming to provide graphite for anodes in 30% of the US and Europe’s electric vehicles by 2030. Urbix is advised by New Electric Partners.
