Source: Getty Images/Gearstd
Lochpine Capital also invested, while CarbonScape and CATL plan demonstration-scale validation at CATL facilities
Contemporary Amperex Technology Co. Ltd. (CATL) has taken a strategic stake in CarbonScape Ltd. and will help scale the New Zealand-founded company's bio-based graphite technology for battery anodes.
The partnership gives CATL board representation and makes it an industrialization partner for CarbonScape as the company works to commercialize graphite made from forestry by-products. Lochpine Capital also invested and is now a strategic shareholder, alongside existing strategic shareholder Stora Enso.
CarbonScape said its proprietary process converts forestry residues into battery-grade graphite for lithium-ion batteries. Under the multiyear collaboration, CarbonScape and CATL plan to validate the technology at demonstration scale at CATL facilities and refine the process for full-scale commercial plants.
"This partnership is about far more than capital. It provides access to CATL's unparalleled expertise in scaling and mass production, world-class facilities, global market reach, and a clear pathway to gigafactory-scale deployment. It validates the strategic importance of biographite in the future of electrification and uniquely aligns technical de-risking with route-to-market readiness. Together, we aim to bring commercial biographite production online by the end of the decade," said Ivan Williams, CarbonScape's chief executive.
Oscar Luo, executive president and global head of BD, licensing and venture management at CATL, said, "Sustainable innovation across the battery value chain is essential to advancing the global energy transition. CarbonScape’s technology introduces a novel method for producing battery-grade graphite from renewable resources, embodying a true breakthrough in material science. We are excited to support this pioneering effort — one that aligns with the vision of a zero-carbon future by redefining how critical materials are sourced and produced. This is not just about scaling a process; it’s about catalyzing a shift toward fundamentally cleaner and smarter energy solutions."
The partnership includes equity-based incentives tied to the successful commercial deployment of CarbonScape's technology. CATL and Lochpine's investment will support technology de-risking and scale-up, CarbonScape said.
Graphite is the largest material component in lithium-ion batteries by volume, representing up to 50% of a battery cell, according to the company. Each electric vehicle contains about 50-100 kg of graphite, more than lithium, nickel and cobalt.
CarbonScape said global demand for battery-grade graphite is expected to grow approximately sixfold between 2025 and 2040. More than 75% of graphite used in batteries comes from an oil-based feedstock, the company said.
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