Northern Graphite Signs Technology Licensing Agreement with Hatch Ltd.
December 7, 2017 (Source) — Northern Graphite Corporation (“Northern” or the “Company”) (TSX-V:NGC) (OTCQX:NGPHF) announces that it has signed an exclusive agreement to license certain Intellectual Property (“IP”) from Hatch Ltd. (“Hatch”) for use in Northern’s proprietary natural graphite purification process. Hatch’s IP relates to the design, construction and operation of a special fluidized bed reactor that is a key component of Northern’s chlorine based process. Under the Agreement, Hatch will provide engineering, design and technical support services and equipment with respect to the core technology, and will share in any royalties/revenues earned by Northern through licensing the Company’s technology to third parties
Graphite mine concentrates must be upgraded with a secondary purification process in order to be used in a number of value added markets, the largest being lithium ion batteries (“LiBs”). Graphite is the anode material in LiBs and there are no substitutes. LiB anode material must be purified to 99.95% and some specific impurities, such as Fe, must be less than 50ppm. Essentially all of this purification is done in China using the wet chemical approach which is largely based on the use of hydrofluoric acid. This is difficult and/or expensive to do in the west because of environmental and workplace health and safety concerns. As the electric vehicle market expands and the demand for LiB anode material grows exponentially, it is critical that the west develop an alternative to current graphite purification processes.
Gregory Bowes, Chief Executive Officer, commented that; “Hatch’s know how, expertise and IP has facilitated the development of a cost competitive and environmentally sustainable solution to the purification problem.” He added; “Northern’s technology provides the opportunity to build and/or license anode material manufacturing plants in the west, in parallel with the development of our Bissett Creek graphite deposit.”
Northern’s proprietary purification technology will use a specially constructed continuous, fluidized bed reactor designed by Hatch. Northern’s process has been extensively tested in the lab and at a bench scale and the next step is to build a pilot plant to further evaluate its performance and refine capital and operating costs.
About Northern Graphite
Northern is a Canadian company with a 100% interest in the Bissett Creek graphite deposit located in southern Canada, relatively close to all required infrastructure. Bissett Creek is an advanced stage project that has a Full Feasibility Study and major environmental permit. Subject to the completion of operational and species at risk permitting, which are well advanced, Northern could commence construction 2018 pending financing. The Company believes Bissett Creek has the highest margin, best flake size distribution and lowest marketing risk of any new graphite project, and has the added advantages of low capital costs and realistic production levels relative to the size of the market.
About Hatch Ltd.
Hatch is an employee-owned, multidisciplinary professional services firm that delivers an array of technical and strategic services, including consulting, engineering, process development, and project and construction management to the Mining, Metallurgical, Energy, and Infrastructure sectors. Hatch draws upon its corporate roots which extend back more than a hundred years and its 9,000 staff with experience in over 150 countries to challenge the status quo and create positive change for clients, employees, and the communities it serves. Hatch’s mining and metallurgy teams undertake major expansions and metallurgical plant upgrades from concept to design to construction anywhere in the world. Hatch rebuilds furnaces, introduces new process controls, and develops unique technologies that give its clients a substantial competitive edge.
Gregory Bowes, B.Sc. MBA, P. Geo., a Qualified Person as defined under NI 43-101, has reviewed and is responsible for the technical information in this news release.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “likely”, “will” or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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