The electric vehicle boom shows no signs of cooling. In fact, companies, like Tesla Inc. (NASDAQ:TSLA), Nio Inc. (NYSE:NIO), Li Auto Inc. (NASDAQ:LI), and General Motors Company (NYSE:GM) are only accelerating production. Not only is the news fueling EV stocks, it’s generating big interest in the metals needed in lithium-ion batteries, including graphite, used for the anode of energy storage.
In fact, there’s so much demand, the global graphite market could be worth up to $36.88 billion by 2030 from $19.09 billion in 2019, according to P&S Intelligence. “Compared to lithium, such batteries need up to 20 times more graphite, as more graphite means availability of more current to flow between the two terminals. Li-ion batteries for hybrid electric vehicles require 10 kg, while for a battery electric vehicle (BEV), 70 kg of graphite is required,” they added.
That’s Big News for Graphite Companies Such as Earthasia International (OTCQX:ETIHY)
Earthasia International Holdings Ltd. (OTCQX:ETIHY), a leader in graphene products and technologies and a manufacturer of spherical graphite and graphene technology for the renewable energy sector, is pleased to announce that on February 22, 2021 The board of directors of the Company approved the foundation of our new indirect wholly-owned subsidiary, Heilongjiang Province Graphex New Material Technology Company Limited at Qitaihe City of the Heilongjiang Province of China.
The Company’s current annual production capacity for spherical graphite, an essential material to produce anode for lithium-ion batteries used in electric vehicles, is 10,000 tons. It is the Company’s plan to invest in and develop a new production facility for spherical graphite through HLJ Province Graphex with a planned additional production capacity of up to 30,000 tonnes that will come into operation in phases.
“Earthasia intends to fully leverage its Graphene Division’s patented high-volume manufacturing capability and product technology to capitalize on the forecasted growth of EV and stored energy lithium ion batteries, in addition to developing future graphene applications,” said Chan Yick Yan Andross, Chief Executive Officer and Director, Earthasia International Holdings Ltd.
The demand for electric vehicles and energy storage are key demand drivers for lithium ion batteries and therefore the Company’s products. The Company’s main product, spherical graphite, is an essential material for production of Lithium Ion battery anodes. These powerful market drivers should provide robust demand for the Company’s graphene products in the foreseeable future.
The recent Board approval to change the Company’s name from Earthasia International Holdings Ltd. to Graphex Group was the first of a number of strategic actions being taken to accurately reflect the Company’s focus on graphene research, manufacturing and development and further capitalize on the opportunities the graphene sector presents. The Company remains committed to its strategy of achieving leadership in the graphene business.
The Company’s spherical graphite manufacturing facility is strategically located in Heilongjiang Province, which has significant high-quality natural graphite reserves. Once HLJ Province Graphex’s new production facility is fully operational, the Company expects to increase annual production by 30,000 tons to a total of 40,000 tons.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Earthasia International Holdings Ltd. by a third party. We own ZERO shares of Earthasia International Holdings Ltd. Please click here for full disclaimer.
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