EcoGraf Receives $1.7M R&D Tax Refund to Fuel HFfree Push

Battery anode materials specialist EcoGraf (ASX: EGR) has received a $1.7 million boost to its coffers with the receipt of a research and development (R&D) tax incentive from the Australian Taxation Office (ATO).

The payment covers the company's R&D costs related to its development of the unique EcoGraf HFfree proprietary purification technology during the financial year ending 30 June 2025.

The company is now awaiting a similar response to a proposal for a grant of approximately $7 million from European governments.

Unique technology

The multi-patented HFfree purification technology is a highly effective chemical process for the removal of impurities from natural graphite and carbon materials.

Studies have found it can produce operating costs 34% lower than existing hydrofluoric acid methods used in China.

Managing director, Andrew Spinks, told shareholders via an ASX announcement that the funds will support the company's further development of its vertically integrated graphite business and its Tanzanian upstream and midstream activities, as well as its proposed downstream development in Europe.

Multiple development fronts

HFfree is a key component of the company’s strategy focused on providing long-term, scalable supply of feedstock for EcoGraf battery anode material processing facilities and large flake graphite products.

The company is currently developing the TanzGraphite natural flake graphite business commencing with the development of the Epanko graphite project in Tanzania.

Epanko is on target to become Africa’s largest planned graphite producer, with future expansions tied to increased demand and the growth of its downstream HF-free purification facilities

The East African nation has also been identified as a likely location for a mechanical shaping facility to process natural flake graphite into spherical graphite (SpG) as part of the process of creating battery grade anode material used in the production of lithium-ion batteries.

Gold plans

Tanzania is also a major focus for EcoGraf's future growth in precious and critical metals with the company reporting in mid-December 2025 that it had reached a key milestone regarding a farm-in agreement with global mining giant AngloGold Ashanti through the granting of the Golden Eagle project prospecting licences.

The receipt of the licences was a condition precedent to an agreement between the two parties announced in May 2024.

Under the farm-in agreement, AngloGold Ashanti is earning a 70% interest in the project by investing approximately $13.5 million over five years in the licences, with EcoGraf retaining 30%.