{australien_flagge}EcoGraf Limited (ASX: EGR; FRA: FMK; OTCQX: ECGFF) can count on the support of the Australian government for the planned expansion of its battery anode plant to 20,000 tons per year. Export Finance Australia has informed the company that it has received conditional approval from the Australian government to provide a loan of up to $40 million.
The loan is subject to a number of arm’s-length conditions, including the successful construction and commissioning of the first 5,000-tpa plant. In addition, Ecograf must provide contracts for the construction of the expansion and sales agreements. Terms of this nature are common for project financings or required under the Critical Minerals Facility.
EcoGraf has engaged financial advisors to coordinate the remaining due diligence activities with Export Finance Australia to finalize binding agreements for the loan.
In the neighborhood of the new EcoGraf™ plant, multinational energy companies Woodside and bp are investing in the development of the Kwinana-Rockingham industrial estate. They plan to produce clean hydrogen there. Ecograf hopes that this hydrogen can later be used as an additional source of clean energy for the EcoGraf™ processing operations.
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