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FYI Resources (ASX:FYI) collaborates with EcoGraf to tap burgeoning battery market

Highlights

  • FYI Resources Limited (ASX:FYI) signs an MoU with EcoGraf Limited to develop HPA-doped carbon coatings material for LIBs.
  • Preliminary research reveals that HPA-doped carbon coatings on the anodes of a battery boost the battery's performance.
  • The battery anode coating market is expected to grow significantly in near future.

FYI Resources Limited (ASX:FYI, OTC:FYIRF) announced its collaboration with battery anode material company, EcoGraf Limited (ASX: EGR), to tap the emerging lithium-ion battery (LIB) market.

In a cheery update, the high-purity alumina producer (HPA) announced that it had entered into a non-binding Memorandum of Understanding (MoU) with EcoGraf to develop High-Purity Alumina-doped carbon coatings material for LIBs.

Notably, FYI is engaged in the production of HPA and wants to place itself as a significant producer of 4N and 5N HPA in the burgeoning high-tech product market.

Source: FYI Resources 2 June 2021

On the other hand, EcoGraf is a battery anode material producer. Additionally, EcoGraf has also developed an innovative EcoGrafTM process to effectively recover carbon anode material from recycled batteries to reduce battery waste and improve battery lifecycle efficiency.

Also Read: FYI Resources Limited (ASX:FYI) in fine fettle to cash in on HPA market boom

HPA-doped carbon coatings enhance battery anode performance

HPA has already been used in batteries in the form of ceramic coating on separator membranes to enhance the battery's chargeability, performance, and safety. Though the application of HPA in the manufacturing of batteries is still uncovering its applicability based on its unique nature and property.

The results of the preliminary research reveal that HPA-doped carbon coatings on the anodes of a battery boost the battery's performance. The protective HPA layer used in batteries reduces the first cycle power loss at the time of charging and discharging.

The battery anode coating market is expected to grow significantly in near future given the forecast demand for anode materials.

Our coverage on FYI’s June quarter results click here

Technical program of MoU

The technical program of the MoU includes FYI’s HPA and EcoGraf’s purified battery spherical graphite (SpG). The initial program will include:

Funding

The funding for the technical program will be shared equally by both parties. Upon successful completion of the program, both parties will sign an agreement based on the key commercial principles for further collaboration.

The research collaboration will also have the evaluation of graphite and alumina composites for new battery technology and clean energy applications.

Negotiation with Alcoa of Australia Limited

In addition to the update, the Company also informed about its negotiations with Alcoa of Australia Limited. FYI is under discussion with Alcoa to form a possible joint venture (JV) related to its high-quality HPA refining process.

Related Article: FYI Resources Limited (ASX:FYI) and Alcoa agrees to extend HPA JV Exclusive Agreement

Shares of FYI last traded 3.97% up at AU$0.785 as of 8 September 2021.

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