How Evion’s US-Led $2.3M Placement Fuels Global Graphite Expansion

Strategic Capital Injection and Global Partnerships

Evion Group NL has taken a significant step forward in its critical minerals journey by securing approximately A$2.3 million through a share placement led by Atlas Strategic Assets Inc., a US-based investor focused on critical mineral supply chains. This capital raise is earmarked to fund the expansion of Evion’s expandable graphite production facilities in India and to advance plans for a similar operation in the United States, aligning with growing geopolitical efforts to diversify supply away from China.

The involvement of Atlas Assets, whose advisory council includes prominent former US government officials, underscores the strategic importance of Evion’s projects in supporting industrial and defence supply chains in allied nations.

Maniry Graphite Project, EU Recognition and Community Engagement

Evion’s flagship Maniry Graphite Project in Madagascar continues to gain momentum, having been formally recognised by the European Union as a preferred future supplier of graphite. This designation is unique within Africa and highlights the project’s high-grade resource and strategic value to Europe’s battery and electric vehicle industries.

During the quarter, Evion received its first tranche of EU grant funding to support workforce training and compliance initiatives, part of a broader grant application exceeding €1.2 million. The company also held a ceremony acknowledging strong local community support, reinforcing its commitment to regional employment and infrastructure development.

Panthera Graphite Technologies JV, Expanding Global Reach

Evion’s 50, 50 joint venture with Metachem Manufacturing Co. in India, Panthera Graphite Technologies, has successfully shipped expandable graphite to the USA and Asia, establishing reliable supply chains outside of China. Positive product testing in Asia has secured initial orders from markets that traditionally sourced graphite regionally, signaling new growth opportunities.

Preparations for a Stage 2 expansion are underway, with equipment arriving on site to increase capacity to approximately 4,000–4,500 tonnes per annum, potentially generating around A$20 million in annual revenue.

Navigating Political and Market Dynamics

Madagascar’s recent political transition, marked by the appointment of President Michael Randrianrina, is viewed positively by Evion, given his regional development focus. The company is actively engaging with government officials, the EU, and the World Bank to secure necessary permits and advance project development.

Global graphite demand continues to surge, driven by the energy transition and supply chain diversification efforts. With China’s export restrictions tightening, Evion’s projects are well positioned to capture market share, supported by rising prices and strategic endorsements from European defence and industry bodies.

Financial Position and Outlook

Evion ended the quarter with a cash balance of A$0.51 million, expected to rise to approximately A$2.5 million following completion of the placement. Operating cash outflows reflect ongoing marketing, corporate, and project development activities. The company is confident its current funding and strategic partnerships will sustain near-term objectives and support its growth trajectory.