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Talga Releases Fully Underwritten $18.8 Million Placement to Boost Vittangi Anode Project Development

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BREAKING

Talga Releases Fully Underwritten $18.8 Million Placement to Boost Vittangi Anode Project Development

495views 0

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Talga, a Graphite mining and applications company, has recently announced it’s placement to raise $18.8 million, according to Graphene Info. The proceeds from the placements will go towards funding the Electric Vehicle Anode pilot plant (16.5 Million), and genre working capital, and supporting the project development (2.3 million).

Talga Managing Director, Mark Thompson said: “The proceeds from the raising will be used towards constructing and operating our EVA pilot plant in 2021 as a key step to finalize the EV customer validation processes currently underway. The EV revolution is here today and Talga is ideally positioned to build a new low-cost, large-scale graphite anode supply chain outside of Asia to serve the European and North American markets. Our recently announced Niska scoping study confirms the scalability of our project and supports a 450% increase to our current European anode production plans, taking our planned total anode production to meet approximately 100GWh of annual Li-ion battery capacity in 2025-26. The unique properties of our Vittangi graphite deposit result in materially higher anode yields. This, in combination with access to low-cost 100% renewable power and proximity to our end customers, means that Talga will be able to deliver a graphite anode with a fraction of the emissions footprint compared to incumbent synthetic products.”

And additional Share Purchase Plans will be used for additional working capital and to support Vittangi.

Photo by Chris Liverani on Unsplash

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