Idemitsu Australia invests in Graphinex Pty Ltd

Idemitsu Australia invests in Graphinex Pty Ltd

April 3, 2024,

Idemitsu Australia is pleased to announce its strategic investment in Graphinex Pty Ltd, through its wholly owned subsidiary, Idemitsu Graphite Pty Ltd. The investment marks Idemitsu’s commitment to advancing sustainable technologies and supporting the growth of the battery industry.

Graphinex, a privately held graphite battery anode company, holds a portfolio of exploration tenements near Croydon, in Queensland’s north west minerals province, including the flagship Esmeralda Graphite Project.

Idemitsu’s investment will accelerate Graphinex’s exploration and development activities for the Esmeralda Graphite Project which aims to become a reliable supplier of premium coated battery anode material, catering to the rapidly expanding global battery industry.

As part of the investment, Idemitsu will hold a significant stake in Graphinex, and will join the company’s Board of Directors.

Mr Steve Kovac, Idemitsu Australia Chief Executive Officer, said “We are excited to invest in Graphinex and support their mission to become a key player in the battery materials sector. This investment aligns with our strategic focus on supporting sustainable technologies and diversifying our energy portfolio.”

“The growing demand for critical minerals like graphite continues to advance the global energy transition to an electrification and decarbonisation phase. Idemitsu’s strategic investment in Graphinex positions us to meet the demand as the world embraces more advanced sustainable energy solutions,” he said.

Mr Art Malone, Graphinex Managing Director said, “This marks a pivotal moment for Graphinex, as Idemitsu’s strategic investment and support propels us forward in our journey to supply Battery Active Anode Material and Spherical Graphite to global battery manufacturers, empowering the transition towards cleaner energy solutions worldwide.”

Mr Tom Northcott, Graphinex Chairman said, “We look forward to working with Idemitsu Australia as Graphinex establishes itself as a leading graphite anode manufacturer and graphite producer from its Flagship Esmeralda Project.