The issue is that the US still require a huge volume of graphite to make up for its lack of investment over many decades.
It's prudent to have a mix of sources to secure supply chains in case that domestic production doesn't live up to expectations or is hampered by other unforeseen factors, ie, what has occurred to SYR in Mozambique right now.
China is a massive player for not just graphite concentrates but for purifying it (99% PSG supply). This is a serious supply issue, isn't it? There is a reason it has targeted graphite, and from their point of view, that rationale is logical. So, although there are alternative ways to create it, this does not imply that it is simple to do so, as both synthetic and natural have their own advantages and disadvantages. For instance, compared to natural graphite mining, the manufacturing process for synthetic graphite is far more complicated, which may provide problems with production consistency and scalability. Furthermore, because of the high energy consumption and industrial activities involved (dealing with petroleum coke or coal-tar pitch as a feedstock), the production process has a greater environmental impact, including the costs associated.
So the US, can not rely on synthetic alone to supply its needs. Plus, African supply is proving that it is not secure and China is increasing their control of African infrastructure by owning its rail, roads and port networks. On the other hand, Renascor is in a safer location for the US, Europe, ROK and Japan to do business as it is not locked up in these networks.
For these reasons, Renascor seems to be ideally placed to capture the moment and leverage off its first mover advantage.
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