- Raised over $2.8 million in new financing
- 2016 Product Development Program’s results confirmed high performance, repeatability, and stability of the Company’s spherical graphite – all indicators of high-quality graphite for lithium-ion (“Li-ion”) batteries
- Work continues to produce exploratory grade samples of coated, spherical graphite (“C-SPG”) for testing by potential end-users
- Nearing completion of its inaugural Preliminary Economic Assessment (“PEA”) for release in January 2017
During 2016, Graphite One completed four rounds of financing. Initially targeted for funds totaling a cumulative $2.4 million, two of the four financings were oversubscribed, raising a total of more than $2.8 million.
With proceeds from its financings, GPH conducted a comprehensive Product Development Program (the “Program”) under the management of TRU Group with the following results:
- The test work produced purified graphite exceeding the threshold purity requirement of 99.95% Cg and averaged 99.98% Cg.
- The Program produced premium-grade spherical graphite (“SPG”) from the purified graphite.
- The best spheronization result – High Yield SPG – achieved almost 75% conversion of GPH STAX graphite to SPG in the size range suited for electric vehicle applications compared to typical industry yields of 30 to 40%.