InVert acquires RapidGraphite to secure sustainable, vertically integrated supply chain
ASX-listed InVert Graphite has concluded binding agreements to acquire all of the issued share capital of Australian technology firm RapidGraphite.
InVert is now proceeding with the administrative completion of the acquisition, which is expected to occur on August 20.
The company has received firm commitments for a strongly supported placement of fully paid ordinary shares in InVert to institutions and investors to raise A$2.5-million before costs. The proceeds will be used to advance ongoing and scaled-up graphite trials using the RapidPulse technology.
“The unconditional acquisition of RapidGraphite is a key milestone for InVert to secure exclusive rights to the RapidPulse technology, which has shown early potential to produce battery-grade graphite without the use of harsh acids.
“With the A$2.5-million placement completed, we are now well-funded to advance the scaled-up trials of this process. Pairing this technology with our recently announced Morogoro maiden mineral resource estimate (MRE), in Tanzania, gives us a clear pathway to develop a vertically integrated and more sustainable supply chain,” comments InVert MD Andrew Lawson.
Currently, RapidGrahite holds an exclusive, royalty free, worldwide licence for, and an option to, acquire the RapidPulse technology, with this technology being described as a novel process developed at Curtin University in Perth, Australia, with promising applications for swiftly converting natural graphite to battery-grade graphite.
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