TIDMTGR
RNS Number : 1262D
Tirupati Graphite PLC
25 June 2021
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this information is considered to be in the public
domain.
25 June 2021
Tirupati Graphite plc ('Tirupati' or the 'Company')
Downstream Specialty Graphite Development Update
Tirupati Graphite plc, the fully integrated, revenue generating,
specialist graphite producer and graphene and advanced materials
developer, is pleased to provide an update on activities at its
speciality graphite downstream operations in India, where it is
developing a suite of speciality graphite for use in hi-tech
applications like lithium-ion batteries, fire retardants, thermal
management, and composites.
Overview
-- Increased sales of trademarked expandable graphite products,
CarboflameX(R) and GrafEN 45545(TM), to a number of customers in
Europe following REACH certification (See RNS dated 10 February
2021)
-- First stage commercial trial orders secured with several bulk
consumers and others evaluating samples.
-- Particular interest from customers in the UK given the
changing policies in flame retardancy requirements.
-- Allotted additional land in Patalganga, which kick starts the
construction of a dedicated product development facility using the
Company's suite of speciality graphite materials to support clients
and meet their requirements.
-- Various work streams ongoing towards constructing the first
module of the 15,000 tpa downstream specialty graphite project to
enhance capacity from 1,200 tpa to 16,200 tpa by H1 2022.
-- Ongoing engagement with lithium-ion battery and EV sector
players in Europe and Asia and advancing plans to expand into North
America for upcoming spherical graphite production.
Shishir Poddar, CEO of Tirupati Graphite, said, "We are
delighted to have received our first commercial trial orders for
our trademarked flame retardant products and to see the extent of
traction we have generated from buyers in EU and the UK since
receiving REACH certification. This is in line with the trend for
businesses and end users to increasingly support green technology
engineering and research that reinforce global resilience and
sustainability. Tirupati is at an exciting stage in its genesis as
we expedite development of this high-growth, downstream, speciality
graphite division and establish markets for our forthcoming
large-scale manufacturing facilities for speciality graphite."
Details
Tirupati continues to advance its operations across its
portfolio including primary mining and processing projects in
Madagascar and speciality graphite and graphene processing
businesses in India. The Company is developing a suite of
speciality graphite for use in hi-tech applications like
lithium-ion batteries, fire retardants, thermal management, and
composites at its Patalganga Project in India; this is part of
Tirupati Speciality Graphite Private Limited ('TSG'), with whom the
Company has a binding acquisition agreement subject to regulatory
approvals.
Notably, it is manufacturing two specialised expandable graphite
products, which are gaining significant traction:
-- CarboflameX(R), an expandable graphite-based halogen-free
flame retardant that can be used in various polymers and provides
insulation to increase energy efficiency.
-- GrafEN 45545(TM), an expandable graphite-based flame
retardant composite ('FRC'), which is compliant with one of the
most stringent flame retardancy and toxicity standards.
Post receiving the recognised international standard REACH
certification in February 2021, the Company has significantly
increased its reach and sales of its range of expandable graphite
products into the European Union/ European Economic Area ('EU/EEA')
and globally, as users look to source products outside of China. It
is now working with multiple consumers, supplying niche, customised
products for applications in the flame retardants, sealings and
thermal management markets. Given its changing policies in flame
retardancy requirements, they are gaining particular interest from
customers in the UK, where further marketing efforts are underway.
As well as supplying regular customers, multiple customers are
evaluating samples as the first stage of tests and first stage
commercial trial orders have been secured with several bulk
consumers. Securing and successfully executing commercial trial
orders is the final step in achieving complete qualification for
bulk orders; this lays the path to market penetration in the EU/EEA
as the larger project is developed.
Following its decision to fast track the scaled-up development
of its 15,000 tpa speciality graphite project, the Company is
setting up a dedicated product development facility using its
expandable graphite and other speciality graphite materials.
Accordingly, to kick-starts this process, TSG has been allotted an
additional circa one-acre plot in Patalganga by the Maharashtra
Industrial Development Corporation, which was earlier planned for
expanding the Patalganga facilities. This complements the
development of markets for the Company's integrated, multi-product
15,000 tpa downstream specialty graphite project expected to
commence by H1 2022.
Furthermore, the Company is continuing ongoing engagement with
lithium-ion battery and EV sector players in Europe and Asia and
advancing plans to expand into North America for upcoming
large-scale spherical graphite production.
** ENDS **
For further information, please visit
https://www.tirupatigraphite.co.uk/ or contact:
Tirupati Graphite Plc
Puruvi Poddar +44 (0) 20 3984 9894
Optiva Securities Limited (Broker)
Daniel Ingram +44 (0) 20 3137 1902
---------------------
St Brides Partners Ltd (Financial PR)
Isabel de Salis / Cosima Akerman +44 (0) 20 236 1177
---------------------
Notes
Tirupati Graphite Plc is a revenue-generating, multi-asset,
multi-jurisdictional, fully integrated producer and developer of
high-grade natural flake graphite, speciality graphite and graphene
and graphene enhanced advanced materials. With a unique set of
properties, graphite has diverse applications with multiple growth
streams and graphene forms the new generation of 2D and advanced
materials. The Company places a special emphasis on "green"
applications, including renewable energy and energy efficiency,
energy storage, thermal management, and advanced materials
development, and is committed to ensuring its operations are
sustainable as well.
The Company's operations include primary mining and processing
in Madagascar, where the Company operates two key projects,
Sahamamy and Vatomina; 3,000 tpa of high-quality flake graphite
concentrate with up to 96% purity is currently being produced and
sold to customers globally, additional 9,000 tpa capacity expected
to be commissioned in Q2 2021, and this is planned to increase to
84,000 tpa by 2024 as per the Company's modular medium-term
development plan.
In India, through Tirupati Speciality Graphite Private Limited
('TSG'), with whom the Company has a binding acquisition agreement
subject to regulatory approvals, Tirupati is developing a suite of
speciality graphite for use in hi-tech applications like
lithium-ion batteries, fire retardants, thermal management, and
composites. Its current operations include the 1,200 tpa Patalganga
Project, which was commissioned in July 2019 to manufacture and
sell CARBOFLAMEX(R), a trademarked fire-retardant expandable
graphite product. TSG is further developing 30,000 tpa specialty
graphite project in two equal size modules and has developed unique
green processing technologies for manufacturing these advanced
materials.
TSG has also established and continues to develop the Tirupati
Graphene and Mintech Research Centre, a state-of-the-art R&D
centre focussed on manufacturing graphene, developing its
applications and advanced materials using graphene, and further
providing environmentally friendly technologies consultancy for
mineral processing.
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