Appian makes US graphite investment
UK-based mining and metals investment adviser Appian Capital Advisory has announced a strategic investment in, and joint development agreement (JDA) with, Urbix to develop a project to build a commercial scale graphite processing facility in the US.
The facility would produce commercial scale graphite from natural graphite concentrate feed supplied by Graphcoa, another Appian investee company located in Brazil.
“This investment and joint development agreement mark a significant advancement towards establishing a vertically integrated graphite company in the Americas,” commented Appian president and CEO Michael Scherb.
As part of the transaction, Appian’s investment into Urbix will help fund the construction of a commercial scale demonstration module, development activities and customer engagement outlined in the JDA required to achieve a final investment decision (FID) for construction of the facility. Upon a positive FID, Appian and Urbix intend to establish a joint venture to construct and operate the facility.
Through its investment, Appian will obtain two of seven board seats at Urbix. The Urbix board will comprise seven directors, including Adam Fisher and Paulo Castellari-Porchia, as nominees of Appian, Nico Cuevas-Gomez and Luis Ramos and three independent directors.
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