EcoGraf Formalises Battery Anode Supply Talks with Mitsubishi Chemical
EcoGraf has signed a non-binding MOU with Mitsubishi Chemical Corporation to explore supplying up to 10,000 tonnes per annum of spherical graphite and natural flake graphite for battery anode materials, advancing its vertically integrated strategy.
- Non-binding MOU with Mitsubishi Chemical for graphite supply
- Potential long-term sales of 10,000 tpa spherical graphite or 16,500 tpa flake graphite
- Supports EcoGraf's Epanko Project and planned purification facilities
- Collaboration follows extensive technical evaluations and sample testing
- Partnership targets tier-one battery and anode manufacturers
Strategic Partnership Framework with Mitsubishi Chemical
EcoGraf Limited (ASX:EGR) has taken a significant step towards securing its place in the battery anode materials supply chain by signing a non-binding Memorandum of Understanding (MOU) with Japan’s Mitsubishi Chemical Corporation (MCC). The agreement establishes a framework for ongoing collaboration focused on the supply, qualification, and potential commercialisation of natural flake graphite and spherical graphite products for MCC’s battery anode operations.
The MOU contemplates a prospective long-term sales arrangement, with MCC considering purchases of up to 10,000 tonnes per annum (tpa) of unpurified and/or purified spherical graphite (SpG), or approximately 16,500 tpa of natural flake graphite. These volumes, while conditional on continued technical evaluation, would represent a meaningful off-take for EcoGraf’s vertically integrated battery anode materials business.
Vertical Integration Anchored by Epanko Graphite Project
This partnership aligns closely with EcoGraf’s strategy to develop a vertically integrated supply chain, anchored by the Epanko Graphite Project in Tanzania. The company is progressing plans for a mechanical shaping facility in Tanzania to convert flake graphite into spherical graphite, which is the precursor for battery anode material. Further downstream, EcoGraf intends to deploy its proprietary EcoGraf HFfree® purification technology to produce high-purity anode materials, including a planned purification facility in Japan, near MCC’s operations.
EcoGraf’s Managing Director Andrew Spinks emphasised the importance of formalising the collaboration, noting the MOU reflects positive technical engagement and provides a structured pathway to deepen ties with tier-one anode and battery manufacturers. This comes as the company continues to refine its production targets, following the updated Bankable Feasibility Study released in February 2026, which confirmed a Stage 1 production target of 73,000 tpa at Epanko with robust financial metrics.
Positioning for Tier-One Battery Supply Chains
MCC, Japan’s largest chemical corporation, is a global leader in battery anode materials with manufacturing facilities worldwide, including its Kagawa plant which is undergoing expansion. The collaboration with EcoGraf could leverage MCC’s established position as a supplier to original equipment manufacturers (OEMs) in the electric vehicle and battery sectors.
This development follows EcoGraf’s recent moves to expand its regional footprint and technology partnerships, including a non-binding MoU with Taiwan’s Long Time Technology to advance HFfree® purification facilities in Southeast Asia. These efforts collectively indicate EcoGraf’s ambition to secure a sustainable, ex-China supply chain for battery anode materials.
Notably, EcoGraf is also advancing its Tanzanian gold exploration portfolio with AngloGold Ashanti, diversifying its resource base while maintaining focus on battery materials. The company’s multi-commodity strategy could provide operational synergies and financial flexibility as it scales.
The MOU remains non-binding and contingent on ongoing technical evaluations, with commercial terms and volumes subject to final agreement. Nonetheless, this partnership marks a pivotal milestone in EcoGraf’s journey to become a significant player in the global battery anode materials market.
Bottom Line?
EcoGraf’s MOU with Mitsubishi Chemical sets a clear path to integrating upstream graphite supply with downstream battery anode production, but the transition from technical collaboration to binding contracts remains the key hurdle.
Questions in the middle?
- Will technical evaluations confirm EcoGraf’s graphite meets Mitsubishi Chemical’s stringent quality standards?
- How soon could binding off-take agreements materialise and impact EcoGraf’s revenue forecasts?
- What are the implications for EcoGraf’s planned purification facilities if volumes scale as anticipated?
