Highlights

• Independent peer-reviewed research published in Electrochimica Acta has validated Critical Resources' optioned dry supersonic deposition (DSD) cathode process

• The heat-treated cathode delivered approximately 154 mAh/g and held approximately 85% of capacity over 500 cycles at 1C, with coulombic efficiency above 99.5%

• Shares in Critical Resources traded at 0.0080 AUD, down 11.11% on the day of the announcement

Critical Resources Limited (ASX:CRR) announced on 2 July 2026 that peer-reviewed research validating its optioned dry supersonic deposition (DSD) cathode technology has been published in the international journal Electrochimica Acta. The publication provides independent confirmation of the solvent- and binder-free manufacturing method underpinning the company's licensable intellectual property. Critical Resources shares traded at 0.0080 AUD on the day, down 11.11 percent, or 0.001 AUD.

Details of the Publication

The research, authored by Rodmyre et al. and published in Electrochimica Acta, volume 574, describes the formation mechanism of solvent- and binder-free cathode nanostructures produced by supersonically accelerated lithium iron phosphate ceramic particles. The DSD process is the subject of a provisional patent application, over which Critical Resources holds an exclusive option, and the company's stated strategy is to commercialise the technology through licensing rather than through manufacturing cells itself.

The underlying work was conducted at the South Dakota School of Mines and Technology within the US National Science Foundation-supported Centre for Solid-State Electric Power Storage. The evaluation program is led by Dr Alevtina Smirnova, who also serves as Technical Advisor to Critical Resources and is a co-author of the published study.

How the Dry Deposition Process Works

Conventional battery electrodes are produced through a wet slurry process, in which active material is mixed with a polymer binder and a solvent, coated onto a metal foil and then dried in high-temperature ovens. That solvent is typically N-methyl-2-pyrrolidone, which requires significant energy to evaporate and recover, while the polymer binder can reduce electrical conductivity across part of the active surface.

DSD instead accelerates ceramic cathode material to supersonic speed and deposits it dry, directly onto the current collector, in a single step, without solvent, binder or a drying oven. The company said the method is also suited to deposition onto three-dimensional and form-fitting geometries, given that the coating is built from an accelerated particle stream rather than applied as a wet coating to a flat sheet substrate.

Performance Data From the Study

The published study found that as-deposited material is partially amorphous, with lithium-ion diffusion around two orders of magnitude lower than crystalline material. A moderate anneal at approximately 350 degrees Celsius was shown to restore crystallinity, a transformation the authors describe as reversible, with the heat-treated cathode recovering electrochemical performance in line with crystalline lithium iron phosphate.

At a low rate of 0.1C, the heat-treated cathode delivered approximately 154 mAh/g, close to the theoretical capacity of lithium iron phosphate of around 170 mAh/g. Over 500 cycles, equivalent to approximately 1,250 hours, at 1C, the cathode held approximately 85 percent of its capacity, with coulombic efficiency above 99.5 percent. The results were generated using a lithium-metal anode and a standard liquid electrolyte in coin-cell format, described by the company as an early and unoptimised first set of trials.

Next Steps in the Evaluation Program

Critical Resources said the next stage of its evaluation program involves integrating its proprietary sulphur-free Amorphous Solid Electrolyte with the DSD process, working toward a full solid-state cell. Thin-film electrolyte deposition and full-format pouch-cell cycling are described as ongoing, with outcomes to be reported as they are completed and confirmed.

Managing Director Tim Wither said the peer review process represents third-party validation of work conducted at the South Dakota School of Mines and Technology, noting that the results relate to a proof-of-concept from an unoptimised first set of trials on a liquid-electrolyte reference rather than a finished commercial cell.

Share Price Performance

Shares in Critical Resources traded at 0.0080 AUD as at 2:34 pm on 2 July 2026, down 0.001 AUD or 11.11 percent for the session. The movement in the low-priced stock came on the day of the peer-review publication announcement, with trading activity reflecting the technical and early-stage nature of the disclosed results relative to the company's broader battery materials evaluation program.

Conclusion

The Electrochimica Acta publication provides third-party validation of the dry cathode manufacturing process at the core of Critical Resources' licensable intellectual property, with the company describing the results as an early-stage proof-of-concept ahead of further work integrating its solid electrolyte and progressing full-format pouch-cell testing. The company's stated approach remains focused on licensing the technology to potential cell and component-maker partners rather than manufacturing cells directly.