Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Ceylon Graphite (CYL) has incorporated a subsidiary in the United Kingdom under the name Ceylon Graphite Technologies
  • CGT will develop graphite and graphene applications with a primary focus on battery anode graphite for electric vehicles and energy storage
  • The subsidiary will also maximize affiliations with local academic and industrial research organizations
  • Ceylon mines for graphite and develops graphene and graphite-based products and applications
  • Ceylon Graphite (CYL) is down by 6.06 per cent and is currently trading at $0.155 per share

Ceylon Graphite (CYL) has incorporated a subsidiary in the United Kingdom under the name Ceylon Graphite Technologies.

CGT will develop graphite and graphene applications with a primary focus on battery anode graphite for electric vehicles and energy storage.

CGT will also maximize affiliations with local academic and industrial research organizations, such as Warwick Manufacturing Group, Imperial College and University College London’s APL & Graphene Engineering Innovation Centre in Manchester.

In particular, Ceylon’s alliance with Warwick/ U.K. Battery Industrialization Center will expand CGT’s potential for growth in energy storage and share close links with battery test programs already underway within the company and the University of Warwick’s Energy Innovation Centre.

In addition, the subsidiary will be able to capitalize on Ceylon’s U.K. patent license for Ceylon Graphene Inks through products currently being developed for water-based eco-friendly lithium-ion battery anodes.

CGT will also expedite applications for joint industrial and academic U.K. government funding.

Don Baxter, Ceylon’s CEO, commented,

“We see significant opportunities and a definite need to supply our high-grade vein graphite to lithium-ion battery manufacturers in both the U.K. and Europe. By being a U.K. resident we are now closer to our target end-users and directly involved in the Faraday Technology hub of anode advancement for the EV and energy storage markets. Brexit has accelerated the U.K. activities to become self-sufficient in lithium-ion battery manufacturing complete with critical material processing capabilities.”

Ceylon mines for graphite and develops graphene and graphite-based products and applications.

Ceylon Graphite (CYL) is down by 6.06 per cent and is currently trading at $0.155 per share as of 3:01 pm ET.

More From The Market Herald

" Tanzanian Gold Corporation (TSX:TNX) to become TRX Gold Corporation

Tanzanian Gold Corporation (TNX) will change its name to TRX Gold Corporation effective May 27, 2022.

" Foremost Lithium (CSE:FAT) working on battery-grade lithium hydroxide product

Foremost Lithium Resource & Technology (FAT) has contracted XPS Expert Process Solutions to create a ready-to-sell battery-grade lithium hydroxide product.

" Cirrus (CSE:CI) executes definitive agreement to consolidate Lordsburg Porphyry Copper Mining District

Cirrus Gold Corp (CI) has signed a purchase agreement to acquire the Lordsburg Property in New Mexico.

" HPQ Silicon Resources’ (TSXV:HPQ) PUREVAP Quartz Reduction Reactor pilot plant is now functional

HPQ Silicon Resources (HPQ) has received confirmation from PyroGenesis Canada that the PUREVAP Quartz Reduction Reactor pilot plant is now functional.