Contemporary Amperex Technology Co., Ltd. (CATL) has made an investment in a New Zealand-based company that converts forestry by-products into graphite for use in lithium batteries.
Together with investment firm Lochpine Capital, CATL will hold a combined 20% stake in CarbonScape Ltd., with the aim of scaling up production of bio-based graphite to meet the growing global demand from the automotive and energy storage sectors.
CarbonScape stated that through this collaboration, its technology will undergo pilot-scale testing at CATL's existing manufacturing facilities in China.
"Our shared goal is to achieve commercial production of bio-graphite by the end of this decade," CarbonScape CEO Ivan Williams said in a statement on Monday.
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