Urbix, Inc., a US-based developer of graphite processing technology, has secured a significant strategic investment from funds managed by Appian, an investment advisor to capital funds that invest solely in mining and mining-related companies. The two parties have also announced plans to advance a commercial scale graphite processing facility.
Urbix’s proprietary technology utilises a sustainable, environmentally friendly approach for the production of CSPG, a necessary anode material for lithium-ion batteries.
The company’s approach to graphite processing eliminates the use of hydrofluoric and hydrochloric acid, and records yields of over 70% – more than twice that of the industry standard.
Eduardo Gonzalez, CFO of Urbix, adds: “This transaction will play an important part in accelerating a defined commercialization strategy to de-risk, demonstrate and deploy the most advanced graphite processing facilities in the world. Urbix has developed a unique proprietary process and the recent announcement that China will curb graphite exports further enhances Urbix’s value proposition, providing battery makers with a domestic supply chain of reliable and sustainable battery grade graphite.”
Urbix operates facilities in Mesa, Arizona and Research Triangle Park, North Carolina with more than 55 employees.