Falcon Energy Materials Raises C$30 Million to Advance Morocco Anode Plant

Agadir – Falcon Energy Materials PLC, a UK-based graphite materials company developing a coated spheronized purified graphite (CSPG) facility in Morocco, has entered advanced discussions to acquire a strategic minority stake in an existing anode material producer in China.

The potential acquisition follows a term sheet signed between Falcon and the Chinese producer on August 6 this year, and forms part of the company’s efforts to reduce development risks for its planned anode production facility in Morocco.

Falcon also announced a fully committed, non-brokered private placement of up to C$30 million to finance the potential acquisition, support its growth plans in Morocco and internationally, and cover general working capital needs.

“This Private Placement funds our growth plans in Morocco and internationally and is very well supported by our institutional investors, underscoring their confidence in Falcon’s strategy and long-term prospects,” said Falcon CEO Matthieu Bos.

“Most importantly, the Private Placement and the Potential Acquisition further derisk the development of our anode plant in Morocco, positioning Falcon well to advance this key project with multiple catalysts ahead.” 

The company said the investment, if completed, would represent a significant step in reducing risks linked to the development of its planned CSPG production facility in Morocco. 

Morocco anode project

Falcon is developing a 25,000-ton-per-year coated spheronized purified graphite production facility in Morocco.

CSPG is a key component used in lithium-ion battery anodes, which store and release electrical energy in rechargeable batteries.

The company describes its Morocco project as a state-of-the-art facility that will process natural graphite concentrate into battery-grade anode material.

Falcon said it has partnered with Chinese technology companies and Moroccan partners as it works to establish production capacity and supply global energy-storage markets.

Read also: Falcon Energy Opens Morocco’s First Natural Graphite CSPG Pilot Plant