Melbourne-based Quantum Graphite (ASX:QGL) is set to purchase certain intellectual property (IP) rights from Sunlands Energy Company for the purification of flake graphite from its Uley 2 Project in South Australia.
Quantum, which has a $205.79 million market capitalisation, reported on Tuesday 1 August it had negotiated the terms of an option to purchase the IP rights.
The company says this intellectual property represents the balance of the flake purification technologies held by Sunlands and is based on entirely new processes that do not include the thermal treatment process that was previously announced by Quantum.
Alongside its offtaker, MRI Trading, Quantum says it is committed to delivering flake graphite products that best meet the needs of MRI’s industrial customer base.
This additional technology provides a commercialisation path to service the most advanced industrial manufacturers in North Asia and Europe and is independent of Quantum’s product delivery to the thermal energy storage market.
Within the next 2 weeks, Quantum reports it will release an update to its commercialisation presentation, as delivered at the Shaw and Partners Global Graphite Conference on 21 June 2023. This presentation will include details of the new processes and the product profile associated with the technology rights acquired.
Sunlands Energy Company is a thermal energy storage technology designer focused on manufacturing TES Graphite Cells. Under a joint venture (JV) between Sunlands and Quantum called Sunlands Power, the companies manufacture coarse natural flake-based thermal storage media and TES Graphite Cell facilities.
The JV exclusively uses natural flake graphite sourced from Quantum’s Uley mine, while the manufactured media is fitted within TES Graphite cells and the completed facility is delivered to Sunlands Energy Company for deployment as a grid-connected long-duration energy storage solution.
Quantum Graphite is a Melbourne-based graphite producer that owns the Uley flake graphite mineral deposits southwest of Port Lincoln in South Australia. The company’s Uley 2 Project represents the next stage of development of the century-old Uley mine and is considered to be one of the ‘largest high-grade’ natural flake deposits in the world.
According to the company’s latest quarterly report published on 31 July 2023, Quantum had $974,000 cash at hand as of 30 June 2023.
Write to Harry Mulholland at Mining.com.au
Images: Quantum Graphite Ltd