SYDNEY: InVert Graphite Ltd. has signed a binding agreement to acquire RapidGraphite Pty Ltd., the exclusive worldwide licensee of the RapidPulse™ technology, a novel process developed at Curtin University that can convert natural graphite into battery-grade material in seconds, the company announced Thursday.
The acquisition is part of InVert’s strategy to create a vertically integrated graphite operation, combining the processing technology with its wholly owned Morogoro high-grade natural graphite project in Tanzania.
Testing on samples from the Morogoro project using the RapidPulse process demonstrated improved crystallinity, purification to approximately 99% purity without acid, and the potential to upcycle graphite waste, according to the company.
“This Curtin University-developed novel RapidPulse technology process has demonstrated a potential positive application to our natural graphite, with early testing achieving ~99% purity and battery-grade crystallinity in seconds, entirely bypassing the need for harsh, environmentally damaging acid purification,” said Andrew Lawson, managing director of InVert Graphite.
The experimental process requires no acid purification, achieving high purity in a single step without the chemical washing required by conventional methods.
InVert will acquire RapidGraphite by issuing 33.3 million shares subject to a 12-month voluntary escrow period, along with 41.67 million unlisted options convertibles at no cost upon achievement of technical performance milestones. A $20,000 non-refundable deposit will be paid for exclusivity.
The acquisition includes access to a pre-pilot Centorr Furnace capable of processing up to 1-kilogram samples, installed at Curtin University for ongoing and scaled-up graphite production trials.
RapidGraphite expects to benefit from a A$439,664 Australian Economic Accelerator Ignite grant awarded by the Australian government to Curtin University to scale the technology.
The technology is currently at Technology Readiness Level 4, having been validated at laboratory scale. The grant is expected to advance it to TRL 5 or 6 over approximately 12 to 18 months through pre-pilot production trials and independent battery-cell validation testing.
In connection with the acquisition, InVert has received firm commitments for a placement to institutions and sophisticated investors to raise A$2.5 million before costs, including A$700,000 from existing directors. Taylor Collison is acting as lead manager.
Curtin University will become a shareholder of InVert Graphite as part of the transaction.
“We are incredibly proud to welcome Curtin University as a shareholder, which, alongside the Australian Government’s AEA Ignite grant, serves as a strong validation of this technology’s potential,” Lawson said.
Rohan McDougall, a Curtin University spokesperson, said the university was pleased to formalize the partnership, adding that “by taking an equity position in the company, the University demonstrates its ongoing support for the continued development and scaling of this novel process from the laboratory to industry.”
The RapidPulse process uses a proprietary catalyst blend to drive rapid, high-temperature conversion of feedstocks to battery-grade graphite. In laboratory testing, the process has achieved graphitization temperatures approaching 3,000 degrees Celsius within seconds—a process that takes up to 30 days in conventional Acheson furnace manufacturing.
Dr. Jason Fogg, co-developer of the technology, will join InVert on a full-time basis to lead commercialization following completion of the acquisition. Dr. Jacob Martin and Dr. Nigel Marks will continue contributing through their roles at Curtin University.
Completion of the acquisition is subject to various conditions, including InVert shareholder approval, which will be sought at an upcoming general meeting.
In a separate development, InVert said it has applied to surrender its White Hill rare earth element licences in South Australia after determining the project is not prospective for economic REE mineralization, allowing the company to focus on its graphite strategy.
