NZ biographite company secures US$18 million

Friday 22 Sep 2023

CarbonScape, the first-to-market producer of biographite - a carbon-negative alternative to the critical material for lithium-ion batteries - has announced new investment of US$18 million led by Stora Enso, battery producer Amperex Technology Ltd (ATL) and other parties.

The investment will support the commercialisation of biographite, and further plans to establish production in Europe and the US.

Biographite provides a much-needed alternative for electric vehicles (EV) and grid-scale battery supply chains, by sustainably creating a critical raw material that currently depends on costly and high-emission production processes.

CarbonScape’s patented process is the result of 7 years of development and testing and uses timber and forestry industry by-products, such as wood chips. It is a sustainable alternative to synthetic (petroleum-based) and natural (mined) graphite, the raw material which fills the largest portion of a lithium-ion battery. The result is a cleaner, competitive and more secure raw material for the global market.

“CarbonScape’s biographite enables the establishment of localised battery supply chains from the ground up. If we are to truly move away from fossil carbon and power our economies through mass electrification, we urgently need sustainable alternatives like biographite to scale quickly,” said CarbonScape CEO Ivan Williams.

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Source: CarbonScape