TIDMTGR
Tirupati Graphite PLC
01 April 2022
1 April 2022
Tirupati Graphite plc
('Tirupati' or the 'Company')
Tirupati Presents Case for support to UK Downstream Graphite
Business in Houses of Parliament
Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist
graphite and graphene company developing sustainable new age
materials, was pleased to have been invited to the Graphite
Roundtable of the All Parties Parliamentary Group ("APPG") for
Critical Minerals, held at the Houses of Parliament on 30 March,
chaired by Cherilyn Mackrory, MP for Truro and Falmouth.
On the back of the importance of flake Graphite in energy
transition and for meeting net zero targets, and the role graphene
can play in the evolution of advanced materials, the key points
raised by Tirupati included:
-- The need for the UK to secure its requirements of flake
graphite in the absence of in-country sources;
-- The potential of UK promoting downstream processing of flake
graphite in the UK for its internal consumption and export to other
markets;
-- Suggested policy initiatives for the UK Government to support
primary and downstream graphite projects being developed by UK
companies, such as:
o Facilitating UK companies developing flake graphite resources
in Africa and other jurisdictions at project level and providing
in-country support through its embassies;
o Promoting the setting up of downstream flake graphite
facilities in the UK and provision of subsidised land for this
purpose;
o Promoting investment in such UK companies by providing tax
benefits;
o Providing grants as a percentage of investment by UK companies
for both acquiring and developing primary flake graphite in other
jurisdictions and setting up downstream in the UK; and
o Providing tax holidays for UK companies setting up downstream
facilities in the UK.
Christian Dennis, Non-executive Director, and Paridhi Poddar,
Corporate Advisor, also presented Tirupati's existing upstream and
downstream business activities and further outlined the potential
for the Company to work with the UK Government and other key
stakeholders to build downstream capabilities in the UK to support
its battery and other sectors and energy transition objectives.
Tirupati's call for the UK to secure primary flake graphite
resources by providing administrative, financial and fiscal support
to UK companies with established and developing primary and
downstream graphite projects in Africa and other jurisdictions, and
to take a proactive stance at project level and in-country support
through its embassies, the Department of International Trade and
other trade promotion emissaries to expedite local government
approvals and support for projects was well received by the APPG
and was discussed in the round table post the presentations.
Tirupati also urged the UK Government to facilitate the
establishment of a center of excellence for value-added downstream
processing in the UK through the availability of land, subsidies,
grants and other economic incentivization tools.
These approaches would bolster the UK's positioning in the
battery and critical minerals value chain and promote the
development and security of supply chains for critical minerals,
including flake graphite.
Tirupati expresses its gratitude to the APPG and Critical
Minerals Association for the opportunity to be a part of the round
table and looks forward to working further with the UK Government
and appropriate departments.
Christian Dennis, Non-executive Director of Tirupati Graphite,
said:
"The world is entering a period of enormous change as we
transition to a low carbon environment and there are many
opportunities for the UK to become a major center of
excellence.
"However, securing the supply of critical minerals to facilitate
energy transition is essential if the UK is to capture that
potential. With Tirupati's capabilities, we should be part of that
through the creation of a sustainable, traceable graphite and
graphene supply chain. This will be essential for the multiple
gigafactories, graphene and advanced materials facilities and
world-class projects that are planned in the UK and across the EU
over the coming years."
Enquiries:
Tirupati Graphite Plc admin@tirupatigraphite.co.uk
Puruvi Poddar - Chief of Corporate & Business +44 (0) 20 39849894
Development
Optiva Securities Limited (Broker)
Ben Maitland - Corporate Finance +44 (0) 20 3034 2707
Robert Emmet - Corporate Broking +44 (0) 20 3981 4173
FTI Consulting (Financial PR) +44 (0) 20 3727 1000
Ben Brewerton / Nick Hennis / Ojasvi Goel tirupati@fticonsulting.com
/ Kelly Smith
https://www.tirupatigraphite.co.uk/
About Tirupati Graphite
Tirupati Graphite Plc is the specialist graphite and graphene
company developing sustainable new age 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 installed capacity of
high-quality flake graphite concentrate with up to 96% purity is
currently being produced and sold to customers globally, planned to
increase to 84,000 tpa by end 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 expanding the Patalganga Project to 4,800 tpa and
developing the 30,000 tpa specialty graphite project in two 15,000
tpa modules which will include capabilities to manufacture
high-purity, expandable, micronized and spherical graphite and
using its unique green processing technologies for the
manufacturing of 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.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAUAUWRUVUSRRR
(END) Dow Jones Newswires
April 01, 2022 05:00 ET (09:00 GMT)
Tirupati Graphite (LSE:TGR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Tirupati Graphite (LSE:TGR)
Historical Stock Chart
From Jul 2023 to Jul 2024