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Highlights:

  • EVG completes first expandable graphite shipment to new US offtake partner.
  • The company to generate approx. AUD 400,000 in revenue from 80-tonne delivery.
  • EVG shares closed 20% higher at AUD 0.018 on 25 June 2025.

Evion Group (ASX:EVG) has announced its first shipment of expandable graphite to the United States, marking a milestone in its commercial engagement beyond Asia. Shares in the company traded 20% higher at AUD 0.018 at the time of writing on 25 June 2025 following the update.

The shipment, totalling 80 metric tonnes, will be supplied to a new offtake partner in the US from the company’s 50:50 joint venture facility, Panthera Graphite, located in Pune, India. The product will be dispatched over a two-month period and is expected to generate approximately AUD 400,000 in revenue.

This development marks the company’s initial entry into the US expandable graphite market, offering a supply alternative outside of China at a time when diversification of critical mineral supply chains has become a key objective for many nations.

The Panthera Graphite facility, located in a Special Economic Zone near Pune, is operated in partnership with Metachem Manufacturing Co, which has over two decades of experience in expandable graphite production. This facility serves as a core asset in Evion’s downstream processing strategy and supports its plan to scale graphite exports globally.

According to Managing Director David Round, the shipment aligns with broader market shifts, particularly in US industries increasingly seeking sources of high-quality, non-Chinese critical minerals. He noted that the delivery could signal the start of a longer-term commercial relationship with US customers and that further updates regarding growth plans in India will be provided in due course.

Evion Group’s vertically integrated strategy spans upstream resource development and downstream processing. Its core asset is the Maniry Graphite Project in southern Madagascar, where the company aims to supply graphite concentrate to global battery markets, including through its anode materials development in Germany.

A Definitive Feasibility Study (DFS) completed in 2022 for the Maniry project estimated a production capacity of 60,000 tonnes of graphite concentrate per year over a mine life of up to 21 years. The study reported a pre-tax Net Present Value (NPV) of USD 263 million. Evion has confirmed that all material assumptions from the DFS remain unchanged as of the latest announcement.

The company is also developing a Battery Anode Material facility in Germany, which is designed to produce up to 30,000 tonnes of battery-ready material annually using fine flake graphite from Maniry.

While the latest shipment comes from the India-based joint venture, it supports Evion's broader aim of building a diversified graphite supply chain with operations across three continents: Africa (Madagascar), Asia (India), and Europe (Germany). The ability to deliver expandable graphite at commercial scale is seen as an important operational step as the company prepares to scale up its presence in multiple jurisdictions.

Evion also notes that the expandable graphite supplied in this shipment aligns with industrial requirements across sectors such as flame retardants, insulation, and energy storage, making it a key input in multiple high-demand markets.

Evion Group Limited is an ASX-listed company focused on the development of natural graphite projects and downstream processing facilities. Its portfolio includes the Maniry Graphite Project in Madagascar, the Panthera Graphite joint venture in India, and the planned Battery Anode Material project in Germany. The company is advancing its goal of building a multi-jurisdictional supply chain to serve global energy transition needs.