First Graphene (ASX:FGR) has all the raw material it needs for the foreseeable future after purchasing 500 tonnes of graphite from the Sri Lankan government.
The company’s PureGRAPH range of graphene powders are made from high-purity raw graphite sourced from a graphite mine owned by the Sri Lankan government.
It announced this morning that it had purchased a further 500 tonnes of graphite from Kahatagaha Graphite Lanka Limited (KGLL), extending its relationship with the government body.
First Graphene managing director Craig McGuckin handed the purchase order personally to KGLL chairman M.R.M. Hamjad, pictured above, earlier this week.
“The placement of this order secures supply for both the Australian business and for the UK business as we develop our customer base in the UK and Europe,” the company said in a statement.
“This purchase order further cements FGR’s position as a preferred customer of KGLL.
“Industry interest has been growing, with test work conducted with large industrial partners and initial sales having commenced. The market will be informed as supply agreements are executed. Our industry clients seek assurance on supply chain management, and this inventory is essential to provide that assurance level to those clients.”
The company’s Sri Lankan lump graphite stockpile will be around 900 tonnes when the shipments arrive.
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About First Graphene
First Graphene is a leading supplier of high-performing, graphene products. The company has a robust manufacturing platform based upon captive supply of high-purity raw materials and an established 100 tonne per year graphene production capacity.
Commercial applications are now being progressed in composites, elastomers, fire retardancy, construction and energy storage.
This content is produced by Star Investing in commercial partnership with First Graphene. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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