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CATL buys 20% stake in CarbonScape graphite materials developer
The partnership aims to bring commercial biographite production online by the end of the decade using forestry by-products instead of oil-based feedstock.
CATL, the world’s largest battery maker, has formed an investment partnership with graphite materials developer CarbonScape, combining CarbonScape’s biographite technology with CATL’s manufacturing and deployment capabilities. Under the deal, CATL receives a combined 20% shareholding in CarbonScape and board representation.
Mining.com reports that the companies position the move around demand from automakers and policymakers for low-carbon, locally sourced, and cost-competitive anode materials for the US and European graphite supply chain. They also note that more than 75% of graphite used in batteries currently comes from an oil-based feedstock.
CarbonScape said its technology enables production of battery-grade graphite from widely available forestry by-products, converting those materials into battery-grade graphite for lithium-ion battery applications. The developer previously signed supply agreements for renewable feedstock for future biographite industrial plants in Europe and North America.
CarbonScape plans to scale beyond its pilot operation in New Zealand, including a demonstration facility in Kotka, Finland, and expects commercial biographite production to be brought online by the end of the decade, according to the company’s CEO, Ivan Williams.