TIDMTGR
RNS Number : 4896Q
Tirupati Graphite PLC
28 October 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 which is
part of UK law by virtue of the European Union (Withdrawal) Act
2018. Upon the publication of this announcement this information is
considered to be in the public domain.
28 October 2021
Tirupati Graphite plc ('Tirupati' or the 'Company')
AGM Statement
Tirupati Graphite plc, the fully integrated, revenue generating,
specialist graphite producer and graphene and advanced materials
developer, is holding its Annual General Meeting ('AGM') later
today. At the meeting, Shishir Poddar, Chairman of Tirupati, who
will attend the meeting virtually, will make the following
statement:
"Make net zero a reality. Climate chiefs warn of cost of
delaying net zero. Energy watchdogs says net zero can protect
against future price shocks. Investors are driving opportunities in
the clean energy transition. World Energy Outlook 2021 shows a new
energy economy is emerging - but not yet quickly enough to reach
net zero by 2050. The automotive future is electric.
"These are just some of the headlines dominating global media
and with COP26 in Glasgow only days away, warnings about the
consequences of climate change will only get louder."
"Given our business is positioned to develop solutions - namely
a suite of graphite products, that can help enable net zero
pathways, Tirupati's rapid expansion could not come at a better
time.
"As highlighted by Prof Richard Herrington, Head of Earth
Sciences Department, Natural History Museum: 'To minimise our
impact on the planet we have to produce renewable and sustainable
technologies, but to make them, we first need to extract the metals
out of the ground.'
"However, while future facing commodities such as graphite are
undoubtably fundamental in developing clean energy technologies,
increasingly EV and other manufacturers are looking to source raw
materials outside of China and devoid of the processing techniques
that utilise toxic chemicals typified in the country.
"Indeed, the Financial Times reported that South Korean group,
LG Chem, is investing $5.2bn in the production of electric vehicle
battery materials including in its native Korea as it seeks to
reduce its dependence on China amid issues with battery
quality.
"Responding to the growing demand for clean, green graphite for
EV batteries, Tirupati is thus increasing production at its two
primary graphite mining and processing projects in Madagascar. Last
month, we announced the commissioning of our second plant and are
also in the process of developing the third, which will take
capacity to 30k tonnes per annum ('ktpa') next year. But that's not
the end of the story; it's just the beginning. Immediately after we
complete the third plant, we'll start on the fourth with the
intention of reaching our ambitious target of 84ktpa by 2024.
"This is no mean feat considering our company was established
just four years ago.
"Notably, as well as using environmentally centric processes and
scalable technologies that achieve high recovery percentages
compared to peers, we're also developing hydropower facilities to
support all our current energy requirements in Madagascar -
ensuring our product is truly green.
"Furthermore, we look forward to completing the acquisition of
two advanced, higher-grade, complementary deposits in Mozambique
from ASX-listed Battery Minerals Ltd, which will further boost our
production profile subject to the conditions under our acquisition
agreement being satisfied.
"The progress we're currently making expanding our downstream
speciality graphite projects in India including a state-of-the-art
R&D and technology centre is equally exciting. Utilising
proprietary green processes and technologies developed in-house, we
are delivering a suite of expandable graphite products with diverse
applications in thermal management in electronics, fire safety,
metal manufacturing and forming, fuel cells, polymers, composites
and in other advanced materials. One of our most notable
accomplishments is the development of a ground-breaking
graphene-aluminium composite, which we're now progressing with
several end users including a FTSE 100 company.
"We believe there are significant prospects for materials
diversification and new technologies.
"Other recent news includes the signing of an MoU with Hanwa to
expand markets for our products in the Far East; developing mineral
processing technology solutions for vanadium, titanium, magnetite
deposits in West Africa; and an agreement to work with a leading
university to develop commercial applications for a range of
graphene products in raw and recycled polymer nanocomposites and
dispersions.
"With the support of our exceptional team of eminent scientists,
geoscientists, engineers, technocrats, technicians, and corporate
personnel, and armed with our exclusive technologies, a healthy
balance sheet, and strong market fundamentals, we're highly
optimistic about our future."
ENDS
For further information, please visit
https://www.tirupatigraphite.co.uk/ or contact:
Tirupati Graphite Plc +44 (0) 20 3984 9894
Puruvi Poddar admin@tirupatigraphite.co.uk
Optiva Securities Limited (Broker)
Daniel Ingram +44 (0) 20 3137 1902
--------------------------------
St Brides Partners Ltd (Financial PR) tirupati@stbridespartners.co.uk
Isabel de Salis / Oonagh Reidy
--------------------------------
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; 12,000 tpa of high-quality flake graphite
concentrate with up to 96% purity is the current capacity of these
projects and flake graphite being produced is sold to customers
globally. The projects are under staged development and total
capacity 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, focused on manufacturing the Company's trademarked
expandable graphite products CARBOFLAMEX(R) and GrafEN 45545(TM) .
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 is also developing the Tirupati Graphene and Mintech
Research Centre ('TGMRC'), 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. Commercial operations commenced in July 2021 having
completed Stage 1 of the centre's development.
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END
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